Ayr Strategies Provides Business Update - Seite 2

Massachusetts

Sandelman continued: “In Massachusetts, our dispensary revenues are up 40% from pre-COVID levels, with average ticket sizes increasing from $140 pre-COVID to up to $225 per transaction today. We are pioneering new ways to serve our customers, offering home delivery to the greater Boston area as of yesterday, in addition to being the only dispensary in greater Boston to implement curbside pick-up.

“Beyond our retail business, our cultivation and production business remains very strong. Since mid-March, we have had two successful harvests in our new 19,000 ft² cultivation facility, and our total annual cultivation capacity sits at 20,000 lbs. We believe demand for Massachusetts cannabis will be substantial when quarantines are lifted in the state, and with our expanded cultivation capacity we are in an excellent position to benefit from that demand.”

Massachusetts Key Metrics

• Average ticket as high as $225, up from $140 pre-COVID
• Daily dispensary revenues up nearly 40% versus pre-COVID levels
• The only dispensary in greater Boston to offer curbside pickup
• Offering home delivery to the greater Boston area, materially expanding our dispensary reach
• Two successful harvests from recently completed 19,000 ft² cultivation expansion, bringing annual cultivation capacity in Massachusetts to 20,000 lbs

Non-IFRS Measures
The Company reports certain non-IFRS measures that are used to evaluate the performance of its businesses and the performance of their respective segments, as well as to manage their capital structures. As non-IFRS measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. Securities regulators require such measures to be clearly defined and reconciled with their most comparable IFRS measure.

The Company references non-IFRS measures and cannabis industry metrics in this document and elsewhere. Non-IFRS measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these are provided as additional information to complement those IFRS measures by providing further understanding of the results of the operations of the Company from management’s perspective. Accordingly, these measures should not be considered in isolation, nor as a substitute for analysis of the Company’s financial information reported under IFRS. Non-IFRS measures used to analyze the performance of the Company’s businesses include “Adjusted EBITDA” and “Adjusted Gross Profit”.