Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 219

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 219
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CC, LLC. Income from Operations Income from operations for the year ended December 31, 2024 was $19,021,586, a decrease of $7,275,858 compared to income from operations of $26,297,444 for the year ended December 31, 2023. Total Other Expense Total other expense, net for the year ended December 31, 2024 was $2,483,310, a decrease of $651,763 compared to other expense, net of $3,135,073 for the year ended December 31, 2023. The decrease in other income (expense) is primarily attributable to increased royalty and sublet income in 2024 relative to 2023. Provision for Income Taxes Income tax expense is recognized based on the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at year-end. For the year ended December 31, 2024, Federal and State income tax expense totaled $9,190,000 compared to income tax expense of $9,550,000 for the year ended December 31, 2023. Non-GAAP Measures EBITDA is a non-GAAP measure that does not have a standardized definition under GAAP. The following information provides reconciliations of the supplemental non-GAAP financial measure EBITDA presented herein to the most directly comparable financial measures calculated and presented in accordance with GAAP. We have provided these non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. These supplemental non-GAAP financial measures are presented because management has evaluated the financial results both including and

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excluding the adjusted items and believes that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of the business. These supplemental non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented.

|                                                                              |     | Years Ended December 31, |     |             |
|                                                                              |     |                     2024 |     |        2023 |
| Net income                                                                   |     |               $7,348,276 |     | $13,976,593 |
| Interest expense, net                                                        |     |                3,476,200 |     |   3