GrowGeneration Corp. — Call Transcript 2026

Welcome everyone to the 2026 Annual Meeting of Shareholders of GrowGeneration Corp. Darren Lampert, Chief Executive Officer and co-founder of GrowGeneration, will now begin the meeting. Thank you. I call this 2026 annual meeting of the shareholders of GrowGeneration Corp. to order. I'd like to extend a warm welcome to our shareholders, members of the board, and staff who are joining us today, both in person and virtually. After introducing our executive team, external advisors, and director nominees, I will turn the meeting over to our Chief Financial Officer and Corporate Secretary, Greg Sanders. Allow me to introduce the members of our executive team participating in today's meeting. Myself, Darren Lampert, Chief Executive Officer and co-founder. Michael Salaman, our president and my co-founder, and Greg Sanders, our Chief Financial Officer and Corporate Secretary. Our external legal counsels, Mitch Lampert and Anna Wang from the law firm Robinson & Cole, are also on the call. Ms. Wang will act as the inspector of elections for today's meeting. Jeff Hatch from our independent audit firm, BDO, is also with us today. Finally, I will introduce the nominees for election to our board of directors. GrowGeneration is fortunate to have a distinguished group of directors whose biographies are in our proxy statement. Our directors contribute significantly and generously to the development of the company's policies and the oversight of governance and operations. Our director nominees are Eula Adams, Stephen Aiello, Star Carter, Darren Lampert, and Michael Salaman. After the business portion of the meeting has concluded, we will provide time for questions. Only validated shareholders will be able to ask questions in a designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please refer to the rules of conduct and procedures of this meeting posted on the web portal. Please note that this meeting is being recorded. At this time, I'll ask our CFO and Corporate Secretary, Greg Sanders, to present the call of the meeting. Thank you, Darren. I represent that I have the following. One, a copy of the formal notice of meeting stating the meeting's date, time, place, and purpose. Two, an affidavit that the notice of meeting was mailed to each shareholder of record on or about April 28th, 2026. Three, a list of shareholders as of April 20th, 2026, the record date, which has been available for inspection at the company's headquarters during the 10-day period prior to the meeting. The board of directors has appointed Anna Wang from Robinson & Cole to act as the inspector of election. Ms. Wang has submitted her signed oath as inspector, which will be included in the minutes of the meeting. I call upon Ms. Wang as inspector to report whether at least one third of the company's outstanding shares are present at the meeting in proxy or in person. Thank you, Greg. I'm pleased to report that holders of record of 55.03% of the issue and outstanding shares of the company are present in person or by proxy. Thank you, Anna. I declare that the meeting is lawfully and properly convened, that a quorum is present for all purposes of the meeting. As you are aware from the notice of meeting and the proxy statements, the matters to be voted on at today's meeting are as follows. One, to elect five directors to the board of directors of the company to serve until the 2027 annual meeting of shareholders and until their respective successors are elected and qualified. Two, to conduct an advisory vote on the compensation paid to the company's named executive officers. Three, to approve and ratify the amendment and restatement of the company's second Amended and Restated 2018 Equity Incentive Plan. Four, to approve and ratify the appointment of BDO USA, P.C. as the company's independent registered public accounting firm to audit the company's financial statements as of December 31st, 2026, and for the fiscal year then ending. At this time, the polls are officially open. If you have not yet voted or wish to change your vote, please do so now by clicking the voting button in the web portal and following the instructions provided. Shareholders who have sent in proxies or voted via telephone or the internet and do not want to change their vote do not need to take any further action. We will now take a brief pause to allow for voting. Now that everyone has had the opportunity to vote, I hereby declare the polls closed. I now invite Ms. Wang, Inspector of Election, to present the preliminary voting results. Thank you, Greg. The preliminary voting results show as follows. Number one, each of the five director nominees receive a plurality of the votes, which is the vote required to elect the directors. Number two, 14,515,031 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval of the compensation of the company's named executive officers as disclosed in the proxy statement. Number three, 13,652,370 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval and ratification of the company's Second Amended and Restated 2018 Equity Incentive Plan. Number four, 32,361,148 of the shares present at the meeting, constituting the majority of shares counted in voting on this proposal, voted for the approval and ratification of the appointment of BDO USA, P.C. as the company's independent registered public accountants for the fiscal year ending December 31st, 2026. Thank you, Anna. On the basis of the inspector's report, I declare as follows. One, the election of the five directors is hereby approved. Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, is hereby approved. Three, the amendment and restatement to the company's 2018 Equity Incentive Plan is hereby approved. Four, the appointment of BDO as the company's independent registered public accountants for the fiscal year ending December 31st, 2026, is hereby approved. This concludes the formal business of the meeting. Thank you for your attention and continued support of GrowGeneration. Darren will now conclude with the state of the business, and we will take appropriate questions you may have following his presentation. A sincere thank you to our shareholders for your continued support and confidence in GrowGeneration. Over the past several years, we have transformed GrowGeneration into a more focused, efficient, and commercially driven business. While the cultivation industry has experienced significant volatility, we have remained disciplined in executing a strategy centered on profitability, operational excellence, proprietary brands, and long-term value creation. Today, GrowGeneration is positioned differently than it was just a few years ago. We have streamlined our footprint, strengthened our balance sheet, expanded our proprietary brand portfolio, and built a commercial platform designed to serve customers across multiple channels and end markets. Our progress was reflected in our first quarter 2026 results. We delivered our second consecutive quarter of year-over-year revenue growth while continuing to improve profitability and maintain a strong balance sheet. Our commercial business remains at the center of our strategy. Through GrowGen Pro, we continue to expand relationships with commercial cultivators, greenhouse operators, and our multi-state operators throughout North America. These customers increasingly rely on GrowGeneration, not only as a supplier but as a strategic partner capable of delivering products, expertise, and solutions at scale. A key driver of our strategy continues to be the expansion of our proprietary brands. During the first quarter, proprietary brand sales represented 37% of cultivation and gardening revenue, reflecting continued progress towards our long-term objective of increasing the contribution of higher-margin, recurring consumable products across our customer base. Beyond cultivation, we continue to diversify our business and customer reach. Our storage solutions segment delivered strong growth during the quarter as increasingly serving a broader range of industries beyond controlled environment agriculture. This diversification helps strengthen our business model while creating additional avenues for growth. We're also continuing to expand into adjacent horticultural and lawn and garden channels. Through our proprietary brands and distribution partnerships, we are broadening our addressable market while leveraging the same sourcing, logistics, and operational infrastructure that supports our commercial business today. At the same time, we remain highly focused on operational discipline. Over the past several years, we have implemented significant cost reduction initiatives throughout the organization. Those actions have created a leaner operating structure that allows us to generate greater operating leverage as revenue continues to grow. Importantly, we continue to maintain a strong financial foundation. As of March 31st, 2026, we had approximately $41 million in cash equivalents, and marketable securities, and no debt. This balance sheet strength provides flexibility to invest in strategic growth initiatives, pursue attractive opportunities, and return value to shareholders when appropriate. Looking ahead, our priorities remain clear. One, continue expanding our commercial B2B platform and strengthening customer relationships through GrowGen Pro. Two, increasing proprietary brand penetration and expand distribution into new channels and customer segments. Three, drive improved profitability through operating discipline, margin expansion and efficient capital allocation. Four, pursue strategic growth opportunities that complement our existing platform and create long-term shareholder value. While challenges remain within portions of the cultivation industry, we believe GrowGeneration is positioned better than at any point in recent years. We have a strong business model, a broader customer base, a growing portfolio for our proprietary brands, and a balance sheet that provides flexibility and opportunity. As we look towards the future, our focus remains on building a larger, more profitable, and more diversified company that can deliver sustainable growth and long-term value for our shareholders. On behalf of Michael, Greg, our board of directors, and the entire GrowGeneration team, thank you for your continued trust and support. We remain excited about the opportunities ahead and look forward to updating you on our continued progress throughout 2026. Thank you, Darren. Now we will take questions from shareholders. Please note we will attempt to answer as many questions as time allows, but only questions that are relevant to the business of the meeting will be addressed. There are no further questions submitted at this time. Thank you again for your support. We look forward to keeping you updated on our progress throughout the year. Stay well and safe. Our 2026 shareholder meeting is now adjourned. The 2026 annual meeting of shareholders of GrowGeneration Corp is now over. You may now disconnect.

Speaker 4: Welcome everyone to the 2026 Annual Meeting of Shareholders of GrowGeneration Corp. Darren Lampert, Chief Executive Officer and co-founder of GrowGeneration, will now begin the meeting. Welcome everyone to the 2026 Annual Meeting of Shareholders of GrowGeneration Corp. welcome everyone to the 2026 annual meeting of shareholders of growgeneration corp Darren Lampert, Chief Executive Officer and co-founder of GrowGeneration, will now begin the meeting. darren lampert chief executive officer and co-founder of growgeneration will now begin the meeting

Speaker 2: Thank you. I call this 2026 annual meeting of the shareholders of GrowGeneration Corp. to order. I'd like to extend a warm welcome to our shareholders, members of the board, and staff who are joining us today, both in person and virtually. After introducing our executive team, external advisors, and director nominees, I will turn the meeting over to our Chief Financial Officer and Corporate Secretary, Greg Sanders. Allow me to introduce the members of our executive team participating in today's meeting. Myself, Darren Lampert, Chief Executive Officer and co-founder. Michael Salaman, our president and my co-founder, and Greg Sanders, our Chief Financial Officer and Corporate Secretary. Our external legal counsels, Mitch Lampert and Anna Wang from the law firm Robinson & Cole, are also on the call. Ms. Wang will act as the inspector of elections for today's meeting. Thank you. thank you I call this 2026 annual meeting of the shareholders of GrowGeneration Corp. to order. i call this 2026 annual meeting of the shareholders of growgeneration corp to order I'd like to extend a warm welcome to our shareholders, members of the board, and staff who are joining us today, both in person and virtually. i'd like to extend a warm welcome to our shareholders members of the board and staff who are joining us today both in person and virtually After introducing our executive team, external advisors, and director nominees, I will turn the meeting over to our Chief Financial Officer and Corporate Secretary, Greg Sanders. after introducing our executive team external advisors and director nominees i will turn the meeting over to our chief financial officer and corporate secretary greg sanders Allow me to introduce the members of our executive team participating in today's meeting. allow me to introduce the members of our executive team participating in today's meeting Myself, Darren Lampert, Chief Executive Officer and co-founder. myself darren lampert chief executive officer and co-founder Michael Salaman, our president and my co-founder, and Greg Sanders, our Chief Financial Officer and Corporate Secretary. michael salaman our president and my co-founder and greg sanders our chief financial officer and corporate secretary Our external legal counsels, Mitch Lampert and Anna Wang from the law firm Robinson & Cole, are also on the call. our external legal counsels mitch lampert and anna wang from the law firm robinson & cole are also on the call Ms. Wang will act as the inspector of elections for today's meeting. ms wang will act as the inspector of elections for today's meeting Jeff Hatch from our independent audit firm, BDO, is also with us today. Finally, I will introduce the nominees for election to our board of directors. GrowGeneration is fortunate to have a distinguished group of directors whose biographies are in our proxy statement. Our directors contribute significantly and generously to the development of the company's policies and the oversight of governance and operations. Our director nominees are Eula Adams, Stephen Aiello, Star Carter, Darren Lampert, and Michael Salaman. After the business portion of the meeting has concluded, we will provide time for questions. Only validated shareholders will be able to ask questions in a designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please refer to the rules of conduct and procedures of this meeting posted on the web portal. Please note that this meeting is being recorded. Jeff Hatch from our independent audit firm, BDO, is also with us today. jeff hatch from our independent audit firm bdo is also with us today Finally, I will introduce the nominees for election to our board of directors. finally i will introduce the nominees for election to our board of directors GrowGeneration is fortunate to have a distinguished group of directors whose biographies are in our proxy statement. growgeneration is fortunate to have a distinguished group of directors whose biographies are in our proxy statement Our directors contribute significantly and generously to the development of the company's policies and the oversight of governance and operations. our directors contribute significantly and generously to the development of the company's policies and the oversight of governance and operations Our director nominees are Eula Adams, Stephen Aiello, Star Carter, Darren Lampert, and Michael Salaman. our director nominees are eula adams stephen aiello star carter darren lampert and michael salaman After the business portion of the meeting has concluded, we will provide time for questions. after the business portion of the meeting has concluded we will provide time for questions Only validated shareholders will be able to ask questions in a designated field on the web portal. only validated shareholders will be able to ask questions in a designated field on the web portal Out of consideration for others, please limit yourself to one question. out of consideration for others please limit yourself to one question Please refer to the rules of conduct and procedures of this meeting posted on the web portal. please refer to the rules of conduct and procedures of this meeting posted on the web portal Please note that this meeting is being recorded. please note that this meeting is being recorded At this time, I'll ask our CFO and Corporate Secretary, Greg Sanders, to present the call of the meeting. At this time, I'll ask our CFO and Corporate Secretary, Greg Sanders, to present the call of the meeting. at this time i'll ask our cfo and corporate secretary greg sanders to present the call of the meeting

Speaker 3: Thank you, Darren. I represent that I have the following. One, a copy of the formal notice of meeting stating the meeting's date, time, place, and purpose. Two, an affidavit that the notice of meeting was mailed to each shareholder of record on or about April 28th, 2026. Three, a list of shareholders as of April 20th, 2026, the record date, which has been available for inspection at the company's headquarters during the 10-day period prior to the meeting. The board of directors has appointed Anna Wang from Robinson & Cole to act as the inspector of election. Ms. Wang has submitted her signed oath as inspector, which will be included in the minutes of the meeting. I call upon Ms. Wang as inspector to report whether at least one third of the company's outstanding shares are present at the meeting in proxy or in person. Thank you, Darren. thank you darren I represent that I have the following. i represent that i have the following One, a copy of the formal notice of meeting stating the meeting's date, time, place, and purpose. one a copy of the formal notice of meeting stating the meeting's date time place and purpose Two, an affidavit that the notice of meeting was mailed to each shareholder of record on or about April 28th, 2026. two an affidavit that the notice of meeting was mailed to each shareholder of record on or about april 28th 2026 Three, a list of shareholders as of April 20th, 2026, the record date, which has been available for inspection at the company's headquarters during the 10-day period prior to the meeting. three a list of shareholders as of april 20th 2026 the record date which has been available for inspection at the company's headquarters during the 10-day period prior to the meeting The board of directors has appointed Anna Wang from Robinson & Cole to act as the inspector of election. the board of directors has appointed anna wang from robinson & cole to act as the inspector of election Ms. Wang has submitted her signed oath as inspector, which will be included in the minutes of the meeting. ms wang has submitted her signed oath as inspector which will be included in the minutes of the meeting I call upon Ms. Wang as inspector to report whether at least one third of the company's outstanding shares are present at the meeting in proxy or in person. i call upon ms wang as inspector to report whether at least one third of the company's outstanding shares are present at the meeting in proxy or in person

Speaker 1: Thank you, Greg. I'm pleased to report that holders of record of 55.03% of the issue and outstanding shares of the company are present in person or by proxy. Thank you, Greg. thank you greg I'm pleased to report that holders of record of 55.03% of the issue and outstanding shares of the company are present in person or by proxy. i'm pleased to report that holders of record of 55.03% of the issue and outstanding shares of the company are present in person or by proxy

Speaker 3: Thank you, Anna. I declare that the meeting is lawfully and properly convened, that a quorum is present for all purposes of the meeting. As you are aware from the notice of meeting and the proxy statements, the matters to be voted on at today's meeting are as follows. One, to elect five directors to the board of directors of the company to serve until the 2027 annual meeting of shareholders and until their respective successors are elected and qualified. Two, to conduct an advisory vote on the compensation paid to the company's named executive officers. Three, to approve and ratify the amendment and restatement of the company's second Amended and Restated 2018 Equity Incentive Plan. Thank you, Anna. thank you anna I declare that the meeting is lawfully and properly convened, that a quorum is present for all purposes of the meeting. i declare that the meeting is lawfully and properly convened that a quorum is present for all purposes of the meeting As you are aware from the notice of meeting and the proxy statements, the matters to be voted on at today's meeting are as follows. as you are aware from the notice of meeting and the proxy statements the matters to be voted on at today's meeting are as follows One, to elect five directors to the board of directors of the company to serve until the 2027 annual meeting of shareholders and until their respective successors are elected and qualified. one to elect five directors to the board of directors of the company to serve until the 2027 annual meeting of shareholders and until their respective successors are elected and qualified Two, to conduct an advisory vote on the compensation paid to the company's named executive officers. two to conduct an advisory vote on the compensation paid to the company's named executive officers Three, to approve and ratify the amendment and restatement of the company's second Amended and Restated 2018 Equity Incentive Plan. three to approve and ratify the amendment and restatement of the company's second amended and restated 2018 equity incentive plan Four, to approve and ratify the appointment of BDO USA, P.C. as the company's independent registered public accounting firm to audit the company's financial statements as of December 31st, 2026, and for the fiscal year then ending. At this time, the polls are officially open. If you have not yet voted or wish to change your vote, please do so now by clicking the voting button in the web portal and following the instructions provided. Shareholders who have sent in proxies or voted via telephone or the internet and do not want to change their vote do not need to take any further action. We will now take a brief pause to allow for voting. Now that everyone has had the opportunity to vote, I hereby declare the polls closed. I now invite Ms. Wang, Inspector of Election, to present the preliminary voting results. Four, to approve and ratify the appointment of BDO USA, P.C. as the company's independent registered public accounting firm to audit the company's financial statements as of December 31st, 2026, and for the fiscal year then ending. four to approve and ratify the appointment of bdo usa p.c as the company's independent registered public accounting firm to audit the company's financial statements as of december 31st 2026 and for the fiscal year then ending At this time, the polls are officially open. at this time the polls are officially open If you have not yet voted or wish to change your vote, please do so now by clicking the voting button in the web portal and following the instructions provided. if you have not yet voted or wish to change your vote please do so now by clicking the voting button in the web portal and following the instructions provided Shareholders who have sent in proxies or voted via telephone or the internet and do not want to change their vote do not need to take any further action. shareholders who have sent in proxies or voted via telephone or the internet and do not want to change their vote do not need to take any further action We will now take a brief pause to allow for voting. we will now take a brief pause to allow for voting Now that everyone has had the opportunity to vote, I hereby declare the polls closed. now that everyone has had the opportunity to vote i hereby declare the polls closed I now invite Ms. Wang, Inspector of Election, to present the preliminary voting results. i now invite ms wang inspector of election to present the preliminary voting results

Speaker 1: Thank you, Greg. The preliminary voting results show as follows. Number one, each of the five director nominees receive a plurality of the votes, which is the vote required to elect the directors. Number two, 14,515,031 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval of the compensation of the company's named executive officers as disclosed in the proxy statement. Number three, 13,652,370 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval and ratification of the company's Second Amended and Restated 2018 Equity Incentive Plan. Thank you, Greg. thank you greg The preliminary voting results show as follows. the preliminary voting results show as follows Number one, each of the five director nominees receive a plurality of the votes, which is the vote required to elect the directors. number one each of the five director nominees receive a plurality of the votes which is the vote required to elect the directors Number two, 14,515,031 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval of the compensation of the company's named executive officers as disclosed in the proxy statement. number two 14,515,031 of the shares present at the meeting constituting the majority of the shares counted in voting on this proposal voted for the approval of the compensation of the company's named executive officers as disclosed in the proxy statement Number three, 13,652,370 of the shares present at the meeting, constituting the majority of the shares counted in voting on this proposal, voted for the approval and ratification of the company's Second Amended and Restated 2018 Equity Incentive Plan. number three 13,652,370 of the shares present at the meeting constituting the majority of the shares counted in voting on this proposal voted for the approval and ratification of the company's second amended and restated 2018 equity incentive plan Number four, 32,361,148 of the shares present at the meeting, constituting the majority of shares counted in voting on this proposal, voted for the approval and ratification of the appointment of BDO USA, P.C. as the company's independent registered public accountants for the fiscal year ending December 31st, 2026. Number four, 32,361,148 of the shares present at the meeting, constituting the majority of shares counted in voting on this proposal, voted for the approval and ratification of the appointment of BDO USA, P.C. as the company's independent registered public accountants for the fiscal year ending December 31st, 2026. number four 32,361,148 of the shares present at the meeting constituting the majority of shares counted in voting on this proposal voted for the approval and ratification of the appointment of bdo usa p.c as the company's independent registered public accountants for the fiscal year ending december 31st 2026

Speaker 3: Thank you, Anna. On the basis of the inspector's report, I declare as follows. One, the election of the five directors is hereby approved. Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, is hereby approved. Three, the amendment and restatement to the company's 2018 Equity Incentive Plan is hereby approved. Four, the appointment of BDO as the company's independent registered public accountants for the fiscal year ending December 31st, 2026, is hereby approved. This concludes the formal business of the meeting. Thank you for your attention and continued support of GrowGeneration. Darren will now conclude with the state of the business, and we will take appropriate questions you may have following his presentation. Thank you, Anna. thank you anna On the basis of the inspector's report, I declare as follows. on the basis of the inspector's report i declare as follows One, the election of the five directors is hereby approved. one the election of the five directors is hereby approved Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, is hereby approved. two the compensation of the company's named executive officers as disclosed in the proxy statement is hereby approved Three, the amendment and restatement to the company's 2018 Equity Incentive Plan is hereby approved. three the amendment and restatement to the company's 2018 equity incentive plan is hereby approved Four, the appointment of BDO as the company's independent registered public accountants for the fiscal year ending December 31st, 2026, is hereby approved. four the appointment of bdo as the company's independent registered public accountants for the fiscal year ending december 31st 2026 is hereby approved This concludes the formal business of the meeting. this concludes the formal business of the meeting Thank you for your attention and continued support of GrowGeneration. thank you for your attention and continued support of growgeneration Darren will now conclude with the state of the business, and we will take appropriate questions you may have following his presentation. darren will now conclude with the state of the business and we will take appropriate questions you may have following his presentation

Speaker 2: A sincere thank you to our shareholders for your continued support and confidence in GrowGeneration. Over the past several years, we have transformed GrowGeneration into a more focused, efficient, and commercially driven business. While the cultivation industry has experienced significant volatility, we have remained disciplined in executing a strategy centered on profitability, operational excellence, proprietary brands, and long-term value creation. Today, GrowGeneration is positioned differently than it was just a few years ago. We have streamlined our footprint, strengthened our balance sheet, expanded our proprietary brand portfolio, and built a commercial platform designed to serve customers across multiple channels and end markets. Our progress was reflected in our first quarter 2026 results. We delivered our second consecutive quarter of year-over-year revenue growth while continuing to improve profitability and maintain a strong balance sheet. Our commercial business remains at the center of our strategy. A sincere thank you to our shareholders for your continued support and confidence in GrowGeneration. a sincere thank you to our shareholders for your continued support and confidence in growgeneration Over the past several years, we have transformed GrowGeneration into a more focused, efficient, and commercially driven business. over the past several years we have transformed growgeneration into a more focused efficient and commercially driven business While the cultivation industry has experienced significant volatility, we have remained disciplined in executing a strategy centered on profitability, operational excellence, proprietary brands, and long-term value creation. while the cultivation industry has experienced significant volatility we have remained disciplined in executing a strategy centered on profitability operational excellence proprietary brands and long-term value creation Today, GrowGeneration is positioned differently than it was just a few years ago. today growgeneration is positioned differently than it was just a few years ago We have streamlined our footprint, strengthened our balance sheet, expanded our proprietary brand portfolio, and built a commercial platform designed to serve customers across multiple channels and end markets. we have streamlined our footprint strengthened our balance sheet expanded our proprietary brand portfolio and built a commercial platform designed to serve customers across multiple channels and end markets Our progress was reflected in our first quarter 2026 results. our progress was reflected in our first quarter 2026 results We delivered our second consecutive quarter of year-over-year revenue growth while continuing to improve profitability and maintain a strong balance sheet. we delivered our second consecutive quarter of year-over-year revenue growth while continuing to improve profitability and maintain a strong balance sheet Our commercial business remains at the center of our strategy. our commercial business remains at the center of our strategy Through GrowGen Pro, we continue to expand relationships with commercial cultivators, greenhouse operators, and our multi-state operators throughout North America. These customers increasingly rely on GrowGeneration, not only as a supplier but as a strategic partner capable of delivering products, expertise, and solutions at scale. A key driver of our strategy continues to be the expansion of our proprietary brands. During the first quarter, proprietary brand sales represented 37% of cultivation and gardening revenue, reflecting continued progress towards our long-term objective of increasing the contribution of higher-margin, recurring consumable products across our customer base. Beyond cultivation, we continue to diversify our business and customer reach. Our storage solutions segment delivered strong growth during the quarter as increasingly serving a broader range of industries beyond controlled environment agriculture. This diversification helps strengthen our business model while creating additional avenues for growth. Through GrowGen Pro, we continue to expand relationships with commercial cultivators, greenhouse operators, and our multi-state operators throughout North America. through growgen pro we continue to expand relationships with commercial cultivators greenhouse operators and our multi-state operators throughout north america These customers increasingly rely on GrowGeneration, not only as a supplier but as a strategic partner capable of delivering products, expertise, and solutions at scale. these customers increasingly rely on growgeneration not only as a supplier but as a strategic partner capable of delivering products expertise and solutions at scale A key driver of our strategy continues to be the expansion of our proprietary brands. a key driver of our strategy continues to be the expansion of our proprietary brands During the first quarter, proprietary brand sales represented 37% of cultivation and gardening revenue, reflecting continued progress towards our long-term objective of increasing the contribution of higher-margin, recurring consumable products across our customer base. during the first quarter proprietary brand sales represented 37% of cultivation and gardening revenue reflecting continued progress towards our long-term objective of increasing the contribution of higher-margin recurring consumable products across our customer base Beyond cultivation, we continue to diversify our business and customer reach. beyond cultivation we continue to diversify our business and customer reach Our storage solutions segment delivered strong growth during the quarter as increasingly serving a broader range of industries beyond controlled environment agriculture. our storage solutions segment delivered strong growth during the quarter as increasingly serving a broader range of industries beyond controlled environment agriculture This diversification helps strengthen our business model while creating additional avenues for growth. this diversification helps strengthen our business model while creating additional avenues for growth We're also continuing to expand into adjacent horticultural and lawn and garden channels. Through our proprietary brands and distribution partnerships, we are broadening our addressable market while leveraging the same sourcing, logistics, and operational infrastructure that supports our commercial business today. At the same time, we remain highly focused on operational discipline. Over the past several years, we have implemented significant cost reduction initiatives throughout the organization. Those actions have created a leaner operating structure that allows us to generate greater operating leverage as revenue continues to grow. Importantly, we continue to maintain a strong financial foundation. As of March 31st, 2026, we had approximately $41 million in cash equivalents, and marketable securities, and no debt. This balance sheet strength provides flexibility to invest in strategic growth initiatives, pursue attractive opportunities, and return value to shareholders when appropriate. Looking ahead, our priorities remain clear. We're also continuing to expand into adjacent horticultural and lawn and garden channels. we're also continuing to expand into adjacent horticultural and lawn and garden channels Through our proprietary brands and distribution partnerships, we are broadening our addressable market while leveraging the same sourcing, logistics, and operational infrastructure that supports our commercial business today. through our proprietary brands and distribution partnerships we are broadening our addressable market while leveraging the same sourcing logistics and operational infrastructure that supports our commercial business today At the same time, we remain highly focused on operational discipline. at the same time we remain highly focused on operational discipline Over the past several years, we have implemented significant cost reduction initiatives throughout the organization. over the past several years we have implemented significant cost reduction initiatives throughout the organization Those actions have created a leaner operating structure that allows us to generate greater operating leverage as revenue continues to grow. those actions have created a leaner operating structure that allows us to generate greater operating leverage as revenue continues to grow Importantly, we continue to maintain a strong financial foundation. importantly we continue to maintain a strong financial foundation As of March 31st, 2026, we had approximately $41 million in cash equivalents, and marketable securities, and no debt. as of march 31st 2026 we had approximately $41 million in cash equivalents and marketable securities and no debt This balance sheet strength provides flexibility to invest in strategic growth initiatives, pursue attractive opportunities, and return value to shareholders when appropriate. this balance sheet strength provides flexibility to invest in strategic growth initiatives pursue attractive opportunities and return value to shareholders when appropriate Looking ahead, our priorities remain clear. looking ahead our priorities remain clear One, continue expanding our commercial B2B platform and strengthening customer relationships through GrowGen Pro. Two, increasing proprietary brand penetration and expand distribution into new channels and customer segments. Three, drive improved profitability through operating discipline, margin expansion and efficient capital allocation. Four, pursue strategic growth opportunities that complement our existing platform and create long-term shareholder value. While challenges remain within portions of the cultivation industry, we believe GrowGeneration is positioned better than at any point in recent years. We have a strong business model, a broader customer base, a growing portfolio for our proprietary brands, and a balance sheet that provides flexibility and opportunity. As we look towards the future, our focus remains on building a larger, more profitable, and more diversified company that can deliver sustainable growth and long-term value for our shareholders. One, continue expanding our commercial B2B platform and strengthening customer relationships through GrowGen Pro. one continue expanding our commercial b2b platform and strengthening customer relationships through growgen pro Two, increasing proprietary brand penetration and expand distribution into new channels and customer segments. two increasing proprietary brand penetration and expand distribution into new channels and customer segments Three, drive improved profitability through operating discipline, margin expansion and efficient capital allocation. three drive improved profitability through operating discipline margin expansion and efficient capital allocation Four, pursue strategic growth opportunities that complement our existing platform and create long-term shareholder value. four pursue strategic growth opportunities that complement our existing platform and create long-term shareholder value While challenges remain within portions of the cultivation industry, we believe GrowGeneration is positioned better than at any point in recent years. while challenges remain within portions of the cultivation industry we believe growgeneration is positioned better than at any point in recent years We have a strong business model, a broader customer base, a growing portfolio for our proprietary brands, and a balance sheet that provides flexibility and opportunity. we have a strong business model a broader customer base a growing portfolio for our proprietary brands and a balance sheet that provides flexibility and opportunity As we look towards the future, our focus remains on building a larger, more profitable, and more diversified company that can deliver sustainable growth and long-term value for our shareholders. as we look towards the future our focus remains on building a larger more profitable and more diversified company that can deliver sustainable growth and long-term value for our shareholders On behalf of Michael, Greg, our board of directors, and the entire GrowGeneration team, thank you for your continued trust and support. We remain excited about the opportunities ahead and look forward to updating you on our continued progress throughout 2026. On behalf of Michael, Greg, our board of directors, and the entire GrowGeneration team, thank you for your continued trust and support. on behalf of michael greg our board of directors and the entire growgeneration team thank you for your continued trust and support We remain excited about the opportunities ahead and look forward to updating you on our continued progress throughout 2026. we remain excited about the opportunities ahead and look forward to updating you on our continued progress throughout 2026

Speaker 3: Thank you, Darren. Now we will take questions from shareholders. Please note we will attempt to answer as many questions as time allows, but only questions that are relevant to the business of the meeting will be addressed. There are no further questions submitted at this time. Thank you again for your support. We look forward to keeping you updated on our progress throughout the year. Stay well and safe. Our 2026 shareholder meeting is now adjourned. Thank you, Darren. thank you darren Now we will take questions from shareholders. now we will take questions from shareholders Please note we will attempt to answer as many questions as time allows, but only questions that are relevant to the business of the meeting will be addressed. please note we will attempt to answer as many questions as time allows but only questions that are relevant to the business of the meeting will be addressed There are no further questions submitted at this time. there are no further questions submitted at this time Thank you again for your support. thank you again for your support We look forward to keeping you updated on our progress throughout the year. we look forward to keeping you updated on our progress throughout the year Stay well and safe. stay well and safe Our 2026 shareholder meeting is now adjourned. our 2026 shareholder meeting is now adjourned

Speaker 4: The 2026 annual meeting of shareholders of GrowGeneration Corp is now over. You may now disconnect. The 2026 annual meeting of shareholders of GrowGeneration Corp is now over. the 2026 annual meeting of shareholders of growgeneration corp is now over You may now disconnect. you may now disconnect