Glass House Brands Applauds Cannabis Reform Action

LONG BEACH, Calif. and TORONTO, Dec. 19, 2025 (GLOBE NEWSWIRE) — Glass House Brands Inc. (“Glass House” or the “Company”) (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX:GHBWF), one of the fastest-growing, vertically-integrated cannabis companies in the U.S., applauds yesterday’s cannabis reform action from the Trump administration.

“The executive order to reschedule cannabis to a Schedule III classification and the authorization of a pilot program for Medicare reimbursement of the cannabis compound CBD represent the most important drug reform of the past fifty years. The executive action reflects genuine common sense, acknowledging the beneficial medical and therapeutic properties of the cannabis plant and granting people greater access to find relief in more natural ways,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House.

“We excitedly await the final execution of President Trump’s order by Attorney General Pam Bondi and are encouraged by the opportunities to expand our business through rescheduling. Specifically, we are confident that Schedule III under the current administration can provide export opportunities into international markets and note that Glass House is uniquely qualified to participate in the growth opportunities ahead for the US CBD market.”

“The announced CBD reimbursement program, through which the 60 plus million seniors on Medicare will be eligible for $500 per year of reimbursement beginning in April 2026, creates a more than $30 billion market. Given our low-cost, high-quality cannabinoid production model, Glass House can be a leading supplier to this market. We have existing CBD/low THC strains in the California market that we believe can be comported with the new federal regulations and are actively engaged in the development of these CBD products. We continue to work with the University of California Berkeley through our hemp research partnership, which prioritizes medicinal cannabinoids that fit perfectly into the new world that President Trump announced today.”

“We are prepared for the opportunities ahead, our ramp up efforts of the past few months continue to progress, and we are again fully planted with our legacy greenhouses. Our cultivation team has the most acreage planted in the Company’s history and we will continue to expand in early 2026.”

About Glass House Brands

Glass House is one of the fastest-growing, vertically integrated cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. Whether it be through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness, or its network of retail dispensaries throughout the state of California, which includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.

Forward Looking Statements

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward- looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements regarding the Company’s financial outlook or operational plans and statements related to future market conditions. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Company’s Annual Information Form available on SEDAR+ at www.sedarplus.ca and in the Company’s Form 40-F available on EDGAR at www.sec.gov. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR+ at www.sedarplus.ca. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

For further information, please contact:
Glass House Brands Inc.
Jon DeCourcey, Vice President of Investor Relations
T: (781) 724-6869
E: ir@glasshousebrands.com

Investor Relations Contact:
KCSA Strategic Communications
Phil Carlson
T: 212-896-1233
E: GlassHouseIR@kcsa.com