Company: VREOF
Filing Date: 2025-03-07
Form Type: PRE 14C
Source: 0001140361-25-007601
Chunk: 329

Company: Vireo Growth Inc.
Filing Date: 2025-03-07
Form: PRE 14C
Chunk 329
---
 the Transaction. This opinion does not constitute a recommendation as to how any holder of securities should vote or act with respect to the Transaction or any other matter. This opinion does not constitute a recommendation as to how any holder of securities should vote or act with respect to the Transaction or any other matter. This opinion does not address the fairness of the Transaction or any aspect or implication thereof, or any other consideration of or relating to the holders of any class of securities, creditors or other constituencies of the Company or the Targets. In addition, we do not express any opinion as to the fairness of the amount or nature of any compensation to be received by any officers, directors or employees of any parties to the Transaction, or any class of such persons, whether relative to the Consideration or otherwise. We also do not express any opinion as to the fairness of the amount or nature of any severance or other funding conducted in connection with the Transaction or otherwise. This opinion is based on the acquisition of all Targets collectively and does not represent an individual analysis of each separate acquisition unit that makes up the Transaction. This opinion was approved by a Moelis & Company LLC fairness opinion committee. Based upon and subject to the foregoing, it is our opinion that, as the date hereof, the Consideration to be paid by the Company in the Transaction is fair from a financial point of view to the Company.

| Sincerely,           |
| MOELIS & COMPANY LLC |

A-3

#### TABLE OF CONTENTS

### APPENDIX B

#### DEEP ROOTS HOLDINGS, INC. AND

### SUBSIDIARIES

### CONSOLIDATED FINANCIAL

### STATEMENTS

### AS OF AND FOR THE YEARS ENDED

#### DECEMBER 31, 2024 AND 2023
<div align='center'>B-1</div>

#### TABLE OF CONTENTS
February 26, 2025

To the Shareholders of

Deep Roots Holdings, Inc. and Subsidiaries

Mesquite, Nevada

#### Independent Auditor’s Report

#### Opinion
We have audited the accompanying consolidated financial statements of Deep Roots Holdings, Inc. and Subsidiaries (the Company), which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income, changes in shareholders’ equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.

In our opinion, the consolidated financial statements referred to above present