TOKEN CLEAR ENGINE / DASHBOARD

CFO TEST MODE CONTROLLED TEST DATA

Green Thumb Industries

GTI • Cannabis / Consumer Products / Retail

↗ TOKEN CLEAR 1% THESIS™

What if 1% more value is already inside the enterprise?

Illustrative scenario, not a forecast. The engine must prove opportunity bottom-up.

DATA REQUIREDSCENARIO

Current EV × 1% Awaiting editable market data

CURRENT ENTERPRISE STATE ASSUMPTION

Enterprise Value ASSUMPTIONEnter current EV to activate

Cash $283.6MDebt $283.0M

01 / EVIDENCE LAYER

What does the enterprise control today?

RevenueREPORTED

$1.2BFY2025

Normalized EBITDAREPORTED

$348.4MFY2025

EBITDA MarginREPORTED

29.6%FY2025

Operating Cash FlowREPORTED

$294.9MFY2025

CashREPORTED

$283.6M06/30/26

DebtREPORTED

$283.0M06/30/26

02 / OPPORTUNITY DETECTION

Where is value underutilized?

3 SIGNALS DETECTED

Brand & IP monetization

Asset & IP Monetization

77PRIORITY

ECONOMIC DRIVERNew licensing and premium product revenue

MODELED VALUE$42M–$68M SCENARIO

CONFIDENCEMedium BENCHMARK

Compliant payments & loyalty

Payments & Financial Infrastructure

79PRIORITY

ECONOMIC DRIVERRetention, basket size, payment friction

MODELED VALUE$18M–$31M SCENARIO

CONFIDENCEMedium BENCHMARK

Virginia adult-use expansion

Market Expansion

74PRIORITY

ECONOMIC DRIVERRetail footprint and production utilization

MODELED VALUE$28M–$54M SCENARIO

CONFIDENCELow ASSUMPTION

Regulatory diligence

03 / FINANCIAL LAB

Model a more valuable tomorrow.

DETERMINISTIC MATH

Incremental revenue$42.0M

EBITDA margin scenario31%

Selected EBITDA multiple11.0x

MODELED OUTCOME SCENARIO

Modeled revenue$1.2B

Modeled EBITDA$377.4M

Modeled enterprise value$4.2B

Modeled equity value$4.2B

EV = EBITDA × selected multiple

04 / MULTIPLE INTELLIGENCE™

What would have to become true?

Potential Multiple Re-Rating

Market valuation multiples are determined by investors and market conditions. Token Clear models sensitivities; it does not predict or guarantee re-rating.

Growth qualityRevenue durabilityCapital efficiencyStrategic optionality

CURRENT STATEDATA REQUIRED

Evidence completeness 68% CALCULATED

05 / SCENARIO MODELING

Enterprise value sensitivity

EBITDA \ MULTIPLE	9.0x	11.0x	13.0x
27%	$3.0B	$3.6B	$4.3B
31%	$3.4B	$4.2B	$4.9B
35%	$3.8B	$4.7B	$5.5B

MODELED EV$4.2B

INCREMENTAL EVDATA REQUIRED

CHANGEDATA REQUIRED

HUMAN APPROVAL GATE

Ready to move from model to action?

Strategies remain DRAFT until a human decision-maker approves the sequence.