Cresco Labs Closes US$50 Million Revolving Credit Facility with Needham Bank News Details View All News Cresco Labs Closes US$50 Million Revolving Credit Facility with Needham Bank June 8, 2026 * Download (opens in new window) Access to conventional commercial bank financing enhances financial flexibility and supports Cresco Labs' disciplined growth and consolidation strategy. CHICAGO-(BUSINESS WIRE)- Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) ("Cresco Labs" or the "Company") today announced the closing of a credit agreement with Needham Bank, a Massachusetts-based commercial bank, providing the Company with a US$50 million revolving credit facility (the "Facility"). For Cresco Labs and the broader cannabis sector, capital has historically come from private credit at elevated rates. The Facility reflects the continued maturation of the industry, expanding access to more efficient sources of capital and further normalizing capital access for leading operators. Borrowings under the Facility will be available to fund growth initiatives, acquisitions and general corporate purposes. As a source of non-dilutive capital, the Facility enhances Cresco's ability to pursue strategic opportunities that strengthen the Company's balance sheet and long-term financial profile. The Facility bears interest at a fixed annual rate of 7.99% and matures in August 2030. "This facility reflects both the continued maturation of the industry and Cresco's position within it," said Charlie Bachtell, Chief Executive Officer of Cresco Labs. "Access to conventional bank capital gives us a powerful, non-dilutive tool to accelerate our strategy. As demonstrated by our recent Pennsylvania acquisition, we see significant opportunities to deploy capital into assets that enhance earnings, improve margins and create long-term shareholder value. This added flexibility positions us to drive growth, strengthen our balance sheet and support Cresco as we work toward broader access to U.S. capital markets and a future uplisting to a senior exchange." Needham Bank's Michelle Haughton, First Vice President, Structured Finance said, "In addition to providing financing to fuel Cresco Labs' growth, Needham Bank is also providing a comprehensive suite of financial services including credit, state-of-the-art cash management and consumer payments to Cresco Labs, one of the largest publicly traded, multistate cannabis companies in the U.S. Our ability to provide a compliant, nationwide banking platform perfectly aligns with their strong operational and financial profile. We look forward to building a rewarding relationship with Cresco Labs for many years to come." This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated January 29, 2026, to its short form base shelf prospectus dated October 3, 2025. About Cresco Labs Inc. Cresco Labs' mission is to normalize and professionalize the medical marijuana industry through a CPG approach to building national brands and a customer-focused retail experience, while acting as a steward for the industry on legislative and regulatory-focused initiatives. As a leader in cultivation, production and branded product distribution, the Company is leveraging its scale and agility to grow its portfolio of brands that include Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's and Remedi, on a national level. The Company also operates highly productive dispensaries nationally under the Sunnyside brand that focus on building patient and consumer trust and delivering ongoing education and convenience in a wonderfully traditional retail experience. Through year-round policy, community outreach and SEED initiative efforts, Cresco Labs embraces the responsibility to support communities through authentic engagement, economic opportunity, investment, workforce development and legislative initiatives designed to create the most responsible, respectable and robust medical marijuana industry possible. Learn more about Cresco Labs' journey by visiting www.crescolabs.com or following the Company on Facebook, X or LinkedIn. Forward-Looking Statements This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as, 'may,' 'will,' 'should,' 'could,' 'would,' 'expects,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'projects,' 'predicts,' 'potential' or 'continue' or the negative of those forms or other comparable terms. The Company's forward-looking statements, including with regard to the proposed uses of loan proceeds, future M&A opportunities, and associated execution and integration risks, and potential uplisting involve known and unknown variables, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2025, filed on SEDAR+ and EDGAR, other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company's forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs' shares, nor as to the Company's financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company's forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise. About Needham Bank Needham Bank is headquartered in Needham, Massachusetts, which is approximately 17 miles southwest of Boston's financial district. Known as the "Builder's Bank," Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892. Needham Bank offers an array of tech-forward products and services that businesses and consumers use to manage their financial needs. Cresco Labs Inc. has the financial expertise typically found at much larger institutions and the local knowledge and commitment you can only find at a community bank. For more information, please visit https://NeedhamBank.com. Needham Bank is a member of the FDIC. Media [email protected] Investors Sharon Schuler, Chief Financial Officer [email protected] For general Cresco Labs inquiries: 312-929-0993 [email protected] Source: Cresco Labs View All News

Cresco Labs has closed a $50 million revolving credit facility with Needham Bank, a Massachusetts-based commercial bank. The facility, which bears interest at 7.99% annually and matures in August 2030, will fund growth initiatives, acquisitions and general corporate purposes. The arrangement marks a shift from private credit at elevated rates, reflecting the cannabis industry's maturation and expanding access to conventional banking. CEO Charlie Bachtell said the non-dilutive capital strengthens Cresco's ability to pursue strategic opportunities whilst working toward broader US capital market access and a potential senior exchange uplisting. Needham Bank is providing comprehensive financial services including credit, cash management and consumer payments to Cresco Labs, one of the largest publicly traded multistate cannabis companies in the US.

Cresco Labs (OTC: CRLBF) Q1 2026 revenue dips as losses persist. Filing Impact Filing Sentiment Rhea-AI Filing summary. Cresco Labs Inc. reported Q1 2026 unaudited results, showing revenue of $151.3 million compared with $165.8 million a year earlier as both wholesale and retail sales softened. The Company recorded a net loss of $17.0 million, similar to the prior-year loss, with interest expense of $14.9 million and income tax expense of $14.2 million driving results. Operating cash flow swung to an outflow of $5.6 million from a prior inflow, and cash and cash equivalents declined to $32.3 million (restricted cash $31.2 million). Long-term notes and loans payable, net, were $418.2 million, including a $325 million Senior Secured Term Loan. Cresco continued expansion, completing a $14.7 million acquisition of four dispensaries and signing a purchase agreement, pending approvals, to acquire nine additional dispensaries for an estimated $50.0 million. The Company also highlighted significant uncertain tax position liabilities related to IRC Section 280E and noted that an April 2026 federal order to place certain cannabis products in Schedule III could materially affect future tax and compliance outcomes, though no financial impact is yet reflected. Insights. Cresco posted lower Q1 2026 revenue, a similar net loss, higher leverage, and continued dispensary expansion amid major tax and regulatory uncertainty. Cresco Labs generated $151.3 million in Q1 2026 revenue versus $165.8 million a year earlier, with both wholesale and retail contributing. Gross profit was $75.4 million, only modestly below the prior period, but interest expense of $14.9 million and income tax expense of $14.2 million kept the Company in a net loss of $17.0 million. Operating cash flow deteriorated to an outflow of $5.6 million. Leverage remains significant: total borrowings and interest payable were $445.8 million, including a $325.0 million Senior Secured Term Loan at 12.5% cash interest with a minimum cash covenant of $30.0 million. Cash and cash equivalents stood at $32.3 million, plus $31.2 million of restricted cash. The balance sheet also carries an uncertain tax position liability and a tax receivable agreement liability, reflecting the Company's approach to IRC Section 280E and related distributions. Strategically, Cresco completed a dispensary transaction with total consideration of $14.7 million and agreed to acquire nine more dispensaries for about $50.0 million, and operates 79 dispensaries across eight states as of May 8, 2026. Subsequent to quarter-end, an order to place certain cannabis products in Schedule III and upcoming DEA hearings introduce meaningful uncertainty around future tax treatment, compliance obligations, and access to capital. The Company states it cannot yet estimate the financial impact, so investors will need to focus on future disclosures as guidance emerges. Key figures. Revenue: $151.3M Net loss: $17.0M Operating cash flow: -$5.6M +5 more Key terms. Internal Revenue Code Section 280E, uncertain tax position liability, Senior Secured Term Loan, variable interest entities, +2 more 05/08/2026 - 04:51 AM Faq. How did Cresco Labs (CRLBF) perform financially in Q1 2026? Cresco Labs reported Q1 2026 revenue of $151.3 million, down from $165.8 million in Q1 2025, and a net loss of $17.0 million versus a $15.2 million loss a year earlier. Gross profit was $75.4 million, reflecting lower sales but relatively stable margins. What was Cresco Labs' cash and debt position as of March 31, 2026? As of March 31, 2026, Cresco Labs had $32.3 million in cash and cash equivalents and $31.2 million in restricted cash. Total borrowings and interest payable were $445.8 million, including a $325.0 million Senior Secured Term Loan and other mortgage, financing, and promissory obligations. How much did Cresco Labs lose from operations and pay in interest and taxes in Q1 2026? Cresco Labs generated income from operations of $11.2 million in Q1 2026 but recorded interest expense, net of $14.9 million and income tax expense of $14.2 million. These non-operating costs turned operating income into a consolidated net loss of $17.0 million. What expansion moves did Cresco Labs announce around Q1 2026? During Q1 2026, a Cresco Labs variable interest entity agreed to acquire four dispensaries for estimated consideration of $14.7 million. The Company also entered a purchase agreement, pending approvals, to acquire nine additional dispensaries for about $50.0 million and signed a related management services agreement. How is federal cannabis rescheduling affecting Cresco Labs' tax position? Cresco Labs carries a significant uncertain tax position liability related to its stance that operations are not subject to IRC Section 280E. An April 2026 order placing certain cannabis products in Schedule III may change future tax treatment, but the Company cannot yet estimate the financial impact. How many dispensaries and facilities does Cresco Labs operate? As of May 8, 2026, Cresco Labs operates 79 dispensaries, including five retail partner locations it supports operationally, and 13 cultivation and production facilities across eight U.S. states where medical or adult-use cannabis has been approved by state and local regulators. Filing exhibits & attachments. 3 documents