Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 80

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 80
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olesome stockholders, respectively, bears to the aggregate amount actually contested by the Stockholder Representative and the Company.

The Wholesome EBITDA Earn-Out Amount shall be paid by the Company through the issuance of newly issued Subordinate Voting Shares at a share price of the greater of $1.05 and the 20-day volume weighted average price of such Subordinate Voting Shares during the 20 trading day period ending on the trading day immediately prior to the December 31, 2026 (the “Wholesome EBITDA Earn-Out Shares”).

The Subordinate Voting Shares received by the Wholesome stockholders are subject to certain customary restrictions on transfer. For additional information on such restrictions, see “Description of the Merger Agreements – Wholesome Merger – Lock-Up Letters” below. For additional information on our Subordinate Voting Shares, see “Description of the Company’s Securities” below.

Wholesome E-Commerce Earn-Out Amount

The Wholesome stockholders will be eligible to receive an additional earn-out amount (the “Wholesome E-Commerce Earn-Out Amount”) based in part on the revenue performance of Arches during the 2026 calendar year. The Wholesome E-Commerce Earn-Out Amount will be equal to 84.72% of (x) the “Wholesome Available E-Commerce Earn-Out Amount” less (y) the amount attributable to the share of the Wholesome Available E-Commerce Earn-Out Amount attributable to the Arches Options (the amount of such reduction, the “Arches Options Earn-Out Share”). The Wholesome Available E-Commerce Earn-Out Amount will be calculated as an amount equal to the greater of (i) $37,500,000 or (ii) the sum of (a)(1) five (5) multiplied by (2) (I) 5% of the aggregate dollar amount of all delivery sales processed through the Arches platform plus (II) 2.5% of the aggregate

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dollar amount of certain online pick-up, curbside, or drive thru sales processed through the Arches platform plus (III) 1% of the aggregate dollar amount of certain walk-in sales processed through the Arches platform, with such amount in (2) measured either (A) during the full twelve (12) month 2026 calendar year or (B) the April 1, 2026 through December 31,