MedMen Provides Annual Filing Status Report

MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier cannabis company with operations across the United States, is providing this bi-weekly default status report in accordance with National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"). On November 2, 2023, the Company announced that it had been granted a management cease trade order against the Company’s CEO and CFO (“MCTO”) by its principal regulator, the British Columbia Securities Commission. The MCTO prohibits trading in the Corporation's securities by the Company’s CEO and CFO until the Company files the Required Filings (as defined below) and the MCTO is revoked but does not affect the ability of the Company’s shareholders to trade in the Company’s securities.

As previously announced in the Company’s press release dated November 2, 2023 (the “Initial Press Release”) and the press release dated November 16, 2023, the application for the MCTO was made by the Company in respect of the late filing of the Company’s 2023 annual audited financial statements, its related management’s discussion and analysis, CEO and CFO certifications (collectively, the "Required Filings"), which were required to be filed on or before October 30, 2023.

In addition to the late filing of the Required Filings, as a result of the Required Filings anticipated to not being completed by November 29, 2023, the Company does not believe it will be in a position to file its interim financial statements, management’s discussion and analysis and related certifications for the three-month period ended September 30, 2023 (the "Additional Disclosure Documents").

Pursuant to the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203, the Company reports that:

• The Company and its auditor are in the process of completing the Required Filings and the associated audit work, which were delayed for the reasons discussed in the Initial Press Release.
• The Company does not have an estimated date for completion of the Required Flings.
• Apart from the late filing of this press release, there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines.
• There has not been, nor is there anticipated to be, any other specified default subsequent to the default which is the subject of the Initial Press Release or as described above.
• The Company has not taken any steps towards any insolvency proceeding and the Company has no material information to release to the public.

The Company confirms that it intends to continue to satisfy the provisions of the alternative information guidelines described in NP 12-203 for so long as it remains in default of the requirement to file the Required Filings. The Company has made the foregoing representations in accordance with the requirements of applicable securities laws.