Andrew Semple

Matt Bottomley

Russell Stanley

Scott Fortune

Matt McGinley

Frederico Gomes

Kenric Tyghe

Sonny Randhawa

- **Ayr Wellness Inc.** has initiated the next phase of its **debt restructuring process** with senior noteholders through **Article 9 proceedings**.  **[1847462_0001104659-25-098879_tm2528606d1_ex99-1.htm:0]** 
- This process involves a **foreclosure sale** of certain collateral assets and equity interests of specified AYR subsidiaries related to operations in Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania.  **[1847462_0001104659-25-098879_tm2528606d1_ex99-1.htm:0]** 
- A **public auction** for these assets is scheduled for **November 10, 2025, at 10:00 a.m. Eastern Time**.  **[1847462_0001104659-25-098879_tm2528606d1_ex99-1.htm:0]** 
- The company's **Interim CEO, Scott Davido**, stated that AYR will continue to fully operate these businesses throughout the ownership transition.  **[1847462_0001104659-25-098879_tm2528606d1_ex99-1.htm:0]**

Ayr Wellness Commences Article 9 Proceedings for Debt Restructuring

- **AYR Wellness** has initiated the next phase of its **debt restructuring process** with senior noteholders through a **foreclosure sale**.  **[1847462_4c3182f4c9304bd79518d0c958e8e2e6_0]** 
- This process involves a public auction of certain collateral assets and equity interests of specified AYR subsidiaries in **Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania**.  **[1847462_4c3182f4c9304bd79518d0c958e8e2e6_0]** 
- The public auction is scheduled for **November 10, 2025, at 10:00 a.m. Eastern Time**.  **[1847462_4c3182f4c9304bd79518d0c958e8e2e6_0]** 
- During this transition, **AYR will continue to fully operate these businesses**.  **[1847462_4c3182f4c9304bd79518d0c958e8e2e6_0]**

Ayr Wellness announces debt restructuring foreclosure sale

- Ayr Wellness Inc. commenced a corporate restructuring subsequent to **March 31, 2025**, entering into a **Restructuring Support Agreement (RSA)** on **July 30, 2025**, to facilitate continued operations and transition under new ownership.  **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:1]** **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:2]** **[1847462_0001104659-25-089631_tm2512171d1_ex99-1.htm:25]** 
- The Company received a Notice of Event of Default on **May 3, 2025**, for failing to maintain its consolidated net leverage ratio and reclassified **$239,371 thousand** of its 13% Senior Notes to current liabilities as of **March 31, 2025**.  **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:1]** **[1847462_0001104659-25-089631_tm2512171d1_ex99-1.htm:24]** 
- Management has identified **substantial doubt** about the Company's ability to continue as a going concern, reporting an accumulated deficit of **$1,199,547 thousand** and negative working capital of **$185,444 thousand** as of **March 31, 2025**.  **[1847462_0001104659-25-089631_tm2512171d1_ex99-1.htm:6]** 
- To support restructuring, a **Bridge Credit Agreement** was executed on **August 29, 2025**, providing up to **$50 million** in committed funding, alongside agreements to sell Illinois operations for **$6.75 million** and a Massachusetts facility for approximately **$4.7 million**.  **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:5]** **[1847462_0001104659-25-089631_tm2512171d1_ex99-1.htm:27]** 
- The Ontario Securities Commission issued a **cease trade order** on **June 5, 2025**, leading to the Company's Equity Shares not currently trading on the Canadian Stock Exchange.  **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:5]** **[1847462_0001104659-25-089631_tm2512171d1_ex99-2.htm:15]**

Ayr Wellness (AYRWF)