wl) VZW Wi-Fi 1:09 PM © 7 22% < © Teammates: There’s much | want to say to you. As co-founder and chief strategy officer of our shared company, | internalize every bump in the road we face as a startup company amidst a startup industry. When headwinds like those we’ve faced in the last year converge, the challenges swirl in my brain both day and night, while awake and asleep. | mean that literally. In a past profession of mine, | ran a company in thirteen time zones and so learned to lucid dream and solve problems overnight. So, when Cambridge disavows us of our legal rights as a company, then cultivation needs a reboot, then a pandemic strikes, then our centuries-brewing societal mistreatment are rightly brought to the forefront, particularly relevant for our industry, | want to offer you some thoughts of my perspective of our WHY. Where Keith is all of our, including my, boss, this letter is not to offer any alternative operational path than what we as a company have collectively prioritized for 2020 and beyond at our annual, collaborative, strategy meetings. However, we are faced with so much in each of our days, that when external events either force system change, expose flaws, or divert short or long term advancements, | often feel obligated to share my viewpoints as a key actor in Revolutionary’s early existence. First, most of you do not know me. As time allows when we are not spending so much energy putting out fires, | look forward to rectifying that and getting to know each of you better as well. For the readers of longer-winded materials, you can also read this letter | wrote, but did not send, at the outset of COVID to learn more about my background and how | think. For now, | will prioritize your time not to know me, but to know why Revolutionary exists, where and how it does — offering you a slight glimpse into me but more importantly a reminder of the foundations of our company, which, like everything in life is in a constant state of improvement. One Oak Hill Road, Fitchburg, where our factory sits, for me was the birthplace of Revolutionary. Others in our organization’s history had worked toward achieving licensure through their non- profit, as was required in Massachusetts’ early days of the cannabis industry. As a child, | had watched Fitchburg deteriorate in the post-industrialization era when so many of these mill towns collapsed. Recreating jobs in Fitchburg was the sole purpose of my taking control of the factory in 2016. | had a background in fighting for the expungement of records and legalization of cannabis through my family, who saw it as purely a social justice issue. You can see my grandfather's statement in 2008 on the matter, but even ten years prior to that | was suspended for writing a “Legalization of Marijuana” essay in elementary school a mile away from our factory. I share this because any perception of Revolutionary as simply existing to maximize a capitalistic opportunity at the dawn of cannabis’ legalization, with disregard for those impacted by the war on drugs, is misplaced and misguided. The first goal was to create jobs. Now, my guiding mission that wakes me up to help lead this company 12-hours per day is to use the cannabis industry as avehicle to show how a company can care for each of its stakeholders — not just shareholders —wl) VZW Wi-Fi 1:09 PM © 7 22% < © and drive more change through for-profit activities than philanthropic band-aids or triage. Having done work all over the globe to try to solve dire issues, | can confidently say that job- creation and proper treatment of stakeholders is one of the greatest contributors to progress. Our company is an evolving illustration of that imperative. Our VP of Product, from whom | learn every day and admire greatly, Dan Gillan, said to me recently, “This a chance to get away from what people see as the ‘old Revolutionary’ and to start anew.” To Dan G. | say that every day offers a chance to reinvent ourselves into a better form. Anyone who wants to become drastically better at anything should do so constantly, as small advancements compile into massive change. | know many people in our company are equally as intentional of humans as | am, and recognize that if you become 1% better at something every day, you end the year not 365% better, but 3800% better because of the compounding factor. Our company is doing this - yet must do more, better, faster, and more thoughtfully, inclusively. However, becoming incrementally better at all things with strategies relevant to 2019 is not the same as recognizing and evolving in June of 2020. Like the historic damage that the drug war has done on our society, many interconnected systems we all live in, and many of us (myself included) subscribe to varying degrees, have been even more devastating. The protests - peaceful and violent alike — are symptoms of many mainstay societal sicknesses. Some are apparent - like blatant racism, some are buried — like sugar in all our inexpensive, and most accessible foods. With a global pandemic in our midst, life and righteousness become even more complex. As | am not nearly smart enough to synthesize this, | offer you what | think is quite an astute summary and resource collection from Axios, a news source | follow, who inspects the interconnected nature of COVID-19 and the due eruption ignited by George Floyd's murder. To that, | pledge to become continuously more thoughtful, aware of privilege, and alert to opportunities to inspire change within our company and through my daily actions. The acceptance and dedication to do, and be, better in myriad categories does not disengage my defensiveness of what | am wildly proud of within our company, nor dissuade me from standing up for the mathematical certainties that must be considered for us to be successful as a company or as an inclusive industry. To that end, | offer you the following: When Boston Globe Reporter Dan Adams made claims on Twitter on Friday the 5th, my temperature sky-rocketed. “Gotcha” reporters who do not research or interview, but exist merely to instigate conflict through mistruth are irresponsible and unwelcome in my viewpoint. There is plenty of truthful reporting that can be done on us, our company, or our industry that can foment positive change. To lie as a prod bothers me.wl) VZW Wi-Fi 1:09 PM © 7 21% < © | wanted to reach out to him immediately and was discouraged from doing so. | suggested a live-televised debate alongside experts on economics, racism, journalistic responsibility, and fact-checkers. Perhaps we will have that someday, and do know that we are reaching out to Dan Adams for the opportunity to come together as fellow humans to understand each other better and rectify false claims. But, as | went for a long run that afternoon, | thought: What | really care about is that my fellow teammates can be proud of what they’re doing with their time. After all, time is our greatest resource and the one we can never recover. If | were working for a company that | hadn’t co- founded and therefore know deeply its positive intentions, | would be weary, confused, uncomfortable, with reporting like Dan’s on Friday, and | therefore believe that you deserve transparency. Note that this is far from compressive, but are summaries of each rebuttal | would give to Dan’s most substantial attempts at blaspheming what we have all built together. You are welcome and encouraged to ask questions of me or anyone else relevant to the points. As Keith says often: “No Triangles.” My phone is on and | work constantly. Your excitement to be a part of this shared effort of success as a company is my single top priority as a co-founder. No ship will sail efficiently if done in disunity or in a state of ambivalence or disinterest of the goal. DanAdams86: This white-owned weed company is literally suing Cambridge to overturn an equity ordinance prioritizing the licensure of marijuana businesses owned by black and brown people. Yet the company is trying to attach its brand to the #BLM protests. 1. Dan has no idea who owns this company. There are over 300 shareholders of various races, ethnicities, backgrounds. There is no single individual who owns more than 5% of the company, by design. Most people own fractions, less than one percent, of the company. | know for a fact that Dan has not reached out to anyone of the influential owners involved in the guidance of our business direction or strategy. As | speak on the company’s behalf around the world, | am very accessible and an obvious person to call if he would like truth. Also of note: in its five years of existence, “owners” of Revolutionary have not received a dime. We have operated at break-even at best, more often at a significant loss to date, while others in Massachusetts have generated significant returns when their path was not hampered in the cities wherein they operate. 2. Weare not suing to stop anyone else from getting their licenses. History lesson for our teammates: When every city wrote their ordinance, Cambridge toyed with having only one or two cannabis companies in their city in order to more easily track and police companies’ activity. Cambridge citizens voted over 75% in favor of legal, adult use cannabis stores. Dozens of applications were submitted due to the attractiveness of the geographic market. Revolutionary was different because of its founders’ and team’s professionalism and longwinded dedication to philanthropic efforts, which could bewl) VZW Wi-Fi 1:10 PM © 7 21% < © documented. Cambridge then evolved to match other cities’ metric of determining how many cannabis stores to open as a consideration of the number of liquor stores they allowed. Revolutionary remained excited for the opportunity to open and compete. Cambridge then decreased the “buffer zone” between cannabis stores from a half-mile to zero-feet away from each other if one of the dispensaries was owned by an economic empowerment license holder. Again, Revolutionary remained excited to participate. Note now, that the opportunity for outsized success had dwindled greatly from an area of exclusivity to open commerce. We welcome democratization of earnings from the legal cannabis industry, whether we originate the sale or not. 3. The Massachusetts law allows for companies like ours who initiated operations before a certain date as an RMD to convert into an Adult Use sales or co-locate Medical and Adult Use as a matter of right. This was critical in our decision to spend millions of dollars of investors’ capital on our dispensaries in Cambridge. 4. We therefore are suing only for our legal right to operate a business in accordance with the law. We specifically are not suing to slow anyone else down and, if you ask any EE license holder who has a store or dreams of having a store, we work every day to be productive members of a community that helps bring these dreams to life. It is in our nature, our hearts, and our business model to do so. THIS IS GOOD BUSINESS. 5. Weare not “trying to attach [our] brand to BLM.” Like all companies who care, we are aware and want to become better. We want to support voices. We want to support progress. We want to support equality. We agree that to be silent is to be complacent and responsible. In the eyes of people like Dan Adams, there is no right response to a moment of intensity like we are facing as a people and as a company today. Had we remained silent, we'd have been skewered for not caring. By saying anything, however, those words are naturally fodder for complaint about them. 6. CONCLUSION: We as a people, as a community, as a company must recognize privilege and opportunities to do and be better. We as a public-facing company are susceptible to slanderous comments from people, like Dan Adams, who simply do not know. But, internally, | implore each person to: Become 1% better every day; Point out to me and others where we can become 1% or more better every day; and employ TSA rules 101: If You See Something, Say Something. Tell us how to be more thoughtful, more generous, more understanding, more progressive, more supportive. We will listen, appreciate it, and we're still a small enough company to ACT. How wonderful is that opportunity? To be nimble enough to act is a privilege that | am glad to employ. DanAdams86: During months long debate, Rev repeatedly threated to sue Cambridge if council passed a proposal to only permit equity applicants for two years in the recreational market. // Rev also tired to buy its way out of the situation, offering millions to equity businesses if the city let Rev go recreational too. (To be fair, some equity applicants supported this proposal, saying the money was far more valuable than two years of exclusivity.)VZW Wi-Fi & 1:10 PM © 7 21% < © 1. We sure did threaten to sue. We have been robbed of our legal rights that were printed in ink, on paper, and incited a business plan that investors put their hard-earned millions of dollars into. You see, when starting a company, you inspect the rules. You inspect what you must do, and what other entities must do, by way of the written rules. You then formulate a plan, and raise capital, in accordance to those rules — those facts. When one side of the table then does not play by the rules, the balance is impaired. We, Revolutionary, cannot stop playing by the rules because we would go to prison or be shut down. In other states, the product that is not sold through legal channels “finds its way” to the illicit market to keep the lights on. Revolutionary would never act this way. Period. Revolutionary plays explicitly by the rules as they are written by our state officials. If cities do not match our integrity in that manner, they must be held accountable. 2. We, with other RMD partners, offered to donate capital at the onset and to divert earnings once the dispensaries had sufficient cash generation to distribute, toward the supporting and opening of others’ dreams and stores. This amounted to over $7.5M over a number of years. This would have been the most money any group had given away to economic empowerment license holders in cannabis history. We would have been proud to do it. 3. We did not need to do this. We could have sued without attempting to first find a highly accretive way to support those around us while operating a cash-flow-positive business. It is in our nature to inspect any option possible to make lemons out of lemonade. We made many, many attempts to solve the challenge in ways that would uphold our legal rights and support those we care deeply for. We’ve continued to support those groups through sharing of expertise, terms on wholesale product, and other collaborations — while our cash balances have dwindled, putting at risk all we have built for the sake of others. DanAdams86: Oh | also forgot — since Cambridge passed the ordinance, Rev rescinded its offer to donate money to equity businesses. 1. We cannot donate what we do not have. We did not start this company to donate money. We did so to use a significant amount of earned capital to create a just and equitable industry. Without generating a profit, one cannot sign away checks. The cash represented on those checks is not in our bank account. 2. Iwelcome Dan or anyone else to give $7.5M in forgiven (not even forgivable, meaning if troubled times come, the economic return can be waived; but immediately forgiven, meaning a post-tax contribution to someone else’s projects). | welcome Cambridge to support its industry in this manner. | welcome Massachusetts to support its industry in this manner. | welcome any one of the activists who have the wrong idea about Revolutionary to offer $7.5M to the efforts of others’ initiatives, asking nothing back. 3. Meanwhile, ask any of the economic empowerment license holders what Revolutionary has done for them. We have stretched ourselves very thin to help others. We do not askwl) VZW Wi-Fi 1:10 PM © 7 21% < © for much, if anything, in return. But ask them before villainizing the gesture of finding a win-win option. DanAdams86: Oh also forgot: In a striking exercise of the company’s privilege/power, Rev’s lobbyist prompted the former chair of the state legislature’s marijuana policy committee to send a letter to the city saying the ordinance would be illegal. (A judge has since ruled it’s legal.) 1. This is not an exercise of outsized or misplaced power. It is a gesture of clarification from the author of the rules themselves. Any operator who is being wronged should absolutely re-inspect the rules meticulously in an effort to consider the financial risk/ reward for standing up for one’s rights. This includes confirmation by those who draft the very rules we are operating by. 2. Asuperior court judge has ruled Cambridge’s actions are illegal. An appellate court judge disagreed, and the case remains ongoing. We are confident in our actions, our rationale, and our righteous fight for our rights. Meanwhile, we will continue to love our economic empowerment partners in Cambridge and elsewhere regardless of the outcome. Those license holders who know us, know what we stand for. Those who don’t experience our incredible staff, our consistent and responsible products, our considerate wholesale and finance teams who support the transactions which help to open the EE stores, make assumptions that are often wrong. | offered you these paragraphs of insight, which are the tips of each iceberg, because as team members you inherently represent our shared company. Without knowing the full story behind every action, there may be times when you are uncomfortable with that inherent. representation. My plea to you is: if you don’t know and are uncomfortable or would simply like to more details — ASK. There is nothing | will dance around with you about and | know each manager in our company feels the same way. | would imagine we with both learn from the exchange and | look forward to those opportunities to do so. We have much left to accomplish together. 1. Revolutionary is only now at a scale where we can choose a few product lines to increase the volume of, decrease the price of, and start to really compete with the illicit market in certain categories. This is a huge moment for us. Our largest competitors are not other stores or RMDs — they are our partners. Our largest competitor is the illicit market. It is our priority and honor, as soon as we can, to offer lower-cost, yet dependable and safe products at every consumers’ price point. Anyone who has dug into costing within our manufacturing understands that capital and scale are required to get there. The illicit market, for example, does not have to test every 10-pounds of flower, nor their oil, nor childproof their packaging.wl) VZW Wi-Fi 1:10 PM © 7 21% < © 2. Taking every challenge in stride, Revolutionary remains a leader in our Massachusetts market and an illustration of what a single-state, intentional and diverse company can be. We must continue to evolve, especially in light of current events. | know CMO Tom Schneider, Gary Perry, and many others are solidifying an action plan to have far better Corporate Social Responsivity. This will be finalized in its first form, yet constantly amended and in a state of betterment. | am particularly excited for these first ideas | saw ina draft: Offer more affordable product and services . Increase diversity within our organization at each level Ensure pay equality across the organization . Inspect our supply chain of plastics, chocolate, sugar, and more to ensure our stakeholders and their environments outside of our immediate gaze are being compensated and treated as they deserve . Offer capital when possible to economic empowerment and social equity groups f. TRACK TRACK TRACK our progress. What we don’t measure we cannot manage. As we improve, we can accelerate those areas of progress as well as illustrate how others can as well. aor As | first stated, | have a lot to say. This is hardly the start of it. | love what | know this company can do. | love that we have over 200 teammates with whom | share a love for this plant and the myriad benefits it can generate for our community and its members. I know | am privileged - a white male with a loving family who paid for my education. Holy shit am I lucky. | would be disappointed with myself, however, if| hid under a rock, hugging my privilege instead of working every day in an industry that | know can participate in the advancement of ideals we all care deeply for. Tell me how to be better. Show me and our teammates how to be better —no less than 1% better each day. To aim at being 3800% better in one year’s time is the absolute minimum | want us to reach for together. And if you, reader, are the one perfect person, | commend our head of HR, Holly, for discovering you, but please please please do your best to be patient with the rest of us as you generously pull us closer to your nirvana. With love and an open phone line, Ryan