Cresco Labs CEO: Rescheduling Marks Historic Shift for Cannabis Industry

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CHICAGO--(BUSINESS WIRE)--Dec 18, 2025--

Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“Cresco Labs” or the “Company”), today issued a statement on behalf of Cresco Labs CEO Charlie Bachtell following President Trump’s action to reschedule cannabis from a Schedule I to Schedule III substance under the Controlled Substances Act.

“Today marks the most consequential moment in the history of U.S. cannabis. The decision to move cannabis from Schedule I to Schedule III will be a cultural turning point, acknowledging what millions of Americans already know: cannabis is medicine and deserves responsible, common-sense regulation.

This action starts bridging the gap between federal law and the will of the American people, with nearly 90 percent of Americans supporting some form of cannabis legalization and 74 percent already living in states with legal cannabis. Rescheduling unlocks opportunities for comprehensive medical research. It validates the work of state leaders who pioneered thoughtful, highly regulated cannabis programs for their constituents. It sends a strong message to our criminal justice system to stop imprisoning people for a plant that’s been used as medicine for more than 5,000 years.

For the estimated 450,000 people working in the regulated cannabis industry, rescheduling is the first domino to fall, paving the way for cannabis to be normalized, respected and finally treated like any other U.S. industry. It will remove cannabis companies’ unfair tax burden, allowing operators to reinvest in new infrastructure and job growth in the communities we serve.It also lays essential groundwork for progress on banking reform and access to U.S. capital markets, critical steps toward aligning federal policy with the scale and sophistication of this industry.

We commend President Trump for this action and remain committed to building the responsible, respectable and robust cannabis industry this country deserves.”

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 involve known and unknown risks, 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, 2024, 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.

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KEYWORD: ILLINOIS NORTH AMERICA UNITED STATES EUROPE GERMANY CANADA

INDUSTRY KEYWORD: CANNABIS NATURAL RESOURCES

SOURCE: Cresco Labs

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PUB: 12/18/2025 02:22 PM/DISC: 12/18/2025 02:22 PM

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