Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 166

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 166
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 constitute a recommendation as to how any holder of securities of Vireo should act with respect to the Transactions or any other matter. Moelis’ opinion was approved by a Moelis fairness opinion committee. In arriving at its opinion, Moelis, among other things:

| (i) | reviewed certain publicly available business and financial information, including publicly available research analysts’ financial forecasts, relating to Vireo; |

| (ii) | reviewed certain internal information relating to the business, earnings, cash flow, assets, liabilities and prospects of the Targets furnished to Moelis by the respective Targets, including financial forecasts provided to or discussed with us by the management of the respective Targets and subsequently modified by management of Vireo; |

| (iii) | reviewed certain internal information relating to the business, earnings, cash flow, assets, liabilities and prospects of Vireo furnished to Moelis by Vireo, including financial forecasts provided to or discussed with Moelis by the management of Vireo; |

| (iv) | reviewed certain internal information relating to cost savings, synergies and related expenses expected to result from the Transactions (the “Expected Synergies”) and certain otherpro formafinancial effects expected to result from the Transactions furnished to Moelis by Vireo; |

| (v) | conducted discussions with members of the senior managements and representatives of Vireo and the Targets concerning the information described in clauses (i) through (iv) of this paragraph, as well as the businesses and prospects of Vireo and the Targets generally; |

| (vi) | reviewed the reported prices and trading activity for the Subordinate Voting Shares; |

| (vii) | reviewed publicly available financial and stock market data of certain other companies in lines of business that Moelis deemed relevant; |

| (xii) | reviewed an executed version of the Bill’s Nursery MOU; |

| (xiii) | participated in certain discussions and negotiations among representatives of Vireo and the Targets and their respective advisors; and |

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| (xiv) | conducted such other financial studies and analyses and took into account such other information as Moelis deemed appropriate. |

In connection with its analysis and opinion, Moelis relied on the information supplied to, discussed with or reviewed by Moelis being complete and accurate in all material respects. Moelis did not independently verify any such information (or assume any responsibility for the independent verification of any such