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TerrAscend Corp.

For the period ended Dec 31, 2025. Filed Mar 12, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 12, 2026

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Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 2. Properties

TerrAscend's corporate headquarters is located in Union City, New Jersey and the Issuer’s registered office is in Mississauga, Ontario, Canada. In addition, the Company has various other offices, manufacturing, cultivation and/or processing facilities and dispensaries across the United States. The Company believes that its current offices and facilities are suitable and adequate to meet its current needs. The Company intends to add new facilities or expand existing facilities as it adds employees, and it believes that suitable additional or substitute space will be available as needed to accommodate any such expansion of the Company's operations.

The following tables set forth the Company’s material physical properties as of March 11, 2026.

Corporate Properties
TypeLocationLeased / Owned
OfficeSanta Rosa, CALeased*
Production and Storage Properties
TypeLocationLeased / Owned
Cultivation, ProcessingIleraOwned*
Waterfall, PA
Cultivation, ProcessingTerrAscend NJ LLCBoonton, NJOwned*
CultivationState FlowerSan Francisco, CALeased*
Cultivation, ProcessingHMS HealthHagerstown, MDOwned*
Retail Properties
TypeLocationLeased / Owned
DispensaryCookiesToronto, ON CanadaLeased*
DispensaryThe ApothecariumPlymouth Meeting, PALeased*
DispensaryThe ApothecariumLancaster, PALeased*
DispensaryThe ApothecariumThorndale, PALeased*
DispensaryThe ApothecariumAllentown, PALeased*
DispensaryThe ApothecariumBethlehem, PALeased*
DispensaryThe ApothecariumStroudsburg, PALeased*
DispensaryThe ApothecariumPhillipsburg, NJOwned*
DispensaryThe ApothecariumMaplewood, NJLeased*
DispensaryThe ApothecariumLodi, NJLeased*
DispensaryUnion ChillLambertville, NJLeased†
DispensaryThe ApothecariumCumberland, MDLeased*
DispensaryThe ApothecariumSalisbury, MDLeased*
DispensaryThe ApothecariumNottingham, MDLeased*
DispensaryThe ApothecariumBurtonsville, MDLeased*
DispensaryThe Apothecarium – CastroSan Francisco, CALeased*
DispensaryThe Apothecarium – MarinaSan Francisco, CALeased*
DispensaryThe Apothecarium – SomaSan Francisco, CALeased*
DispensaryThe ApothecariumBerkeley, CALeased*
DispensaryRatio CannabisNew Philadelphia, OHLeased*
Miscellaneous Properties
TypeLocationLeased / Owned
Cultivation, ProcessingMonitor FacilityMonitor, MIOwned
  • Property or lease on the property is subject to an encumbrance as described below.

† Property is leased by Union Chill Cannabis Company LLC (“Union Chill”), a New Jersey limited liability company in which subsequent to the year ended December 31, 2025, the Company exercised the option to hold a 35% ownership interest.

 Subleased and not utilized in the Company's operations

Properties Subject to an Encumbrance

The Company, pursuant to a senior secured term loan with an aggregate principal amount of $222.1 million, entered into on August 1, 2024, and amended pursuant to a joinder agreement dated September 30, 2024 and July 8, 2025 (the “FG Loan”), by and between the Company, as guarantors, and each of the Borrowers (as defined below) and Incremental Amendment Borrowers (as defined below), and FG Agency Lending LLC, as the Administrative Agent, has pledged substantially all of the assets of the Borrowers (as defined below) and Incremental Amendment Borrowers (as defined below) as collateral to secure its obligations.

See the section titled "Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations—Debt Facilities" of this Annual Report for more information regarding the Company's indebtedness.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.