X 22ND CENTURY GROUP FOURTH QUARTER AND FULL YEAR EARNINGS PRESENTATION MARCH 9, 2023 Nasdaq XXII SURGEON GENERAL'S WARNING: Ciparette HELPS YOU SMOKE LESS VLN® is deliberately different from all other traditional cigarettes, because VLN® is the only cigarette authorized by the FDA that Helps You Smoke Less. CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS | --- | |----------------------------------------------------------------------------------------------------| | | | This presentation contains forward-look ...

22nd Century Group, Inc. (NASDAQ:XXII) Q4 2022 Earnings Conference Call March 9, 2023 10:00 AM ET Corporate Participants Matt Kreps - Investor Relations Jim Mish - Chief Executive Officer John Miller - President, Tobacco Business Hugh Kinsman - Chief Financial Officer Conference Call Participants Aaron Grey - Alliance Global Partners Vivien Azer - TD Cowen Alex Fuhrman - Craig-Hallum Capital Group Brian Wright - ROTH MKM Jim McIlree - Dawson James Operator Good day, ladies and gentlemen, and welcome to the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 or ☐ Transition Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-36338 22nd Century Group, Inc. 500 Seneca Street, Suite 507, Buffalo, New York 14204 (Address of principal executive offices) (716) 270-1523 (Registrant's telephone number ...

Financial Data and Key Metrics Changes - Net sales increased by 149% quarter-over-quarter to $19.4 million, reflecting a full quarter of GVB revenue and record tobacco CMO manufacturing sales [42] - Gross profit increased slightly quarter-over-quarter to $619,000, with improved gross margin from CMO manufacturing offset by lower margin from hemp/cannabis sales [43] - Tobacco revenue for the third quarter increased to a record $11.5 million from $7.8 million, an increase of 48% [44] Business Line Data and Key Metrics Changes - Tobacco revenue increased to $11.5 million, with a gross profit margin of 5.5% due to strong unit sales growth and improved product mix [44] - Hemp/cannabis revenue grew 25% to $7.8 million, reflecting an increase in unit sales of over 80% due to strong demand for premium quality ingredients [45] Market Data and Key Metrics Changes - The current five states represent about 7% of the total U.S. retail cigarette market, valued at approximately $5.7 billion [16] - Access to 18 states could provide access to more than half of the total U.S. cigarette market, equating to over $39 billion in cigarette sales [19] Company Strategy and Development Direction - The company plans to expand its presence in up to 18 states over the next 12 months, aiming for a notable market share [9] - Integration of GVB Biopharma is expected to enhance the company's position in the hemp/cannabis market, aiming for increased margins and certifications [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the prospects for the tobacco business, driven by consumer interest and regulatory changes favoring reduced nicotine products [30] - The company is closely monitoring investments to drive share, scale, and financial returns in commercial pursuits [12] Other Important Information - The company has a cash balance of $44 million, which will support near-term strategic initiatives, primarily the accelerated launch of VLN [47] - GVB is on pace to become a cash-generating business in 2023 due to investments made to meet market demand [49] Q&A Session Summary Question: Key factors for hitting 12 vs. 18 states - Management indicated that supply chain considerations are the major driver for the number of states targeted, with a focus on ensuring adequate supply [55][56] Question: Modeling tobacco opportunity and revenue realization - Management suggested that sequential growth seen in Q2 to Q3 is a good framework for modeling future revenue, with expectations for VLN sales to accelerate [59][60] Question: Ensuring shelf placement in new markets - Management confirmed that they have similar programs in Colorado as in Illinois, leveraging learnings from the pilot to ensure effective retail placement [65][66] Question: Insights on GVB acquisition and revenue expectations - Management expressed satisfaction with the GVB acquisition, noting that integration is progressing well and revenue growth is expected as demand for specialty ingredients increases [73][78] Question: Drug Master File submission to the FDA - Management confirmed that the submission is scheduled for Q1, which will open doors to the ethical pharmaceutical industry and establish high-quality standards [88][89]

THIRD QUARTER EARNINGS PRESENTATION NOVEMBER 8, 2022 XXII CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS | --- | |----------------------------------------------------------------------------------------------------| | | | This presentation contains forward-looking statements | | concerning our business operations, and financial performance | | and conditions, as well as our plans, objectives, and | | expectations for our business operations and financial | | performance and conditions that are subject to ris ...

Product Development and Market Expansion - 22nd Century Group, Inc. received FDA Modified Risk Tobacco Product authorization for its VLN® cigarettes, which contain 95% less nicotine than conventional cigarettes [138]. - The company has launched VLN® reduced nicotine cigarettes in over 150 Circle K stores in Chicago and plans to expand to more than 3,000 locations in Colorado [139]. - By the end of 2023, the company aims to launch VLN® in a total of up to 12 to 18 states, having secured regulatory authorizations to sell in 47 states and the District of Columbia [142]. - The company planted its largest VLN® tobacco crop in 2022, achieving 30% higher yields and improved quality, with plans for expansion in 2023 [143]. - The FDA's new leadership is expected to favor policies that support the company's reduced nicotine products, including a proposed nicotine cap in combustible cigarettes [144]. - The company anticipates commercial production of its VLN® 2.0 American blend cigarettes featuring non-GMO reduced nicotine varieties to begin in 2023 [148]. - The global nicotine retail sales were approximately $853 billion in 2021, with 84.1% from combustible cigarettes, indicating a significant market opportunity for VLN® [136]. - The company has provided over 31.6 million variable nicotine research cigarettes for independent clinical studies, with costs exceeding $125 million [134]. - Studies show that smokers using the company's reduced nicotine products reduce nicotine exposure and dependence, smoke fewer cigarettes, and double their quit attempts [135]. Financial Performance - Net revenues for Q3 2022 were $19,383, a 148.2% increase from $7,811 in Q3 2021, driven by contract manufacturing volumes and GVB's full quarter revenue [162]. - Net revenues from tobacco-related products were $11,535, a 47.7% increase from the previous year, while hemp/cannabis-related products generated $7,848 in revenue [162]. - Gross profit for Q3 2022 was $619, reflecting a 112.0% increase from $292 in Q3 2021, despite an inventory write-down of $281 [162]. - Total operating expenses for Q3 2022 rose to $15,887, up from $7,861 in the prior year, primarily due to the GVB acquisition and increased strategic consulting and marketing expenses [162]. - Research and development expenses for Q3 2022 were $1,318, an increase of $287 from the prior year, driven by strategic initiatives and personnel costs [169]. - Sales, general and administrative expenses for Q3 2022 were $14,569, a significant increase of $7,739 from the previous year, largely due to GVB-related expenses and accelerated launch costs for VLN® [171]. Cash Flow and Financial Position - The company had $43,721 in cash, cash equivalents, and short-term investment securities as of September 30, 2022 [162]. - Unrealized loss on investments for Q3 2022 was $(345), a significant improvement from $(1,900) in Q3 2021, indicating better performance in equity securities [175]. - As of September 30, 2022, the company reported an unrealized loss of $345 for the three months and $2,041 for the nine months due to fluctuations in the value of PLSH common stock, which was valued at $299 per share [177]. - Interest expense increased to $(148) for the quarter ended September 30, 2022, compared to $(23) in the same quarter of 2021, primarily due to interest from GVB bridge notes related to the GVB acquisition [178]. - Cash and cash equivalents decreased by $5,015 to $2,364 as of September 30, 2022, primarily due to cash used in operating activities [179]. - Working capital decreased by $222 to approximately $45,736 as of September 30, 2022, primarily due to a $10,238 increase in net current liabilities [180]. - Cash used in operating activities increased by $14,441 to $(32,648) for the nine months ended September 30, 2022, driven by higher SG&A spending [182]. - Cash provided by investing activities decreased by $33,587, primarily due to increased cash used for acquisitions and investments, including GVB and Change Agronomy Ltd. [184]. - Cash provided by financing activities decreased by $18,718, resulting from lower net proceeds from common stock issuances and warrant exercises [185]. - As of September 30, 2022, the company had approximately $43,721 in cash and cash equivalents and short-term investment securities, a decrease of $5,015 from December 31, 2021 [186]. - The company completed a capital raise on July 25, 2022, generating net proceeds of $32,484 to accelerate the launch of VLN® products and meet increased customer demands [188]. - Future cash requirements are anticipated to decrease, reflecting higher sales volume for VLN® products and continued organic growth of GVB's operations [187]. Strategic Acquisitions and Growth - The company is focused on developing proprietary hemp/cannabis varieties for applications in life sciences and consumer products, optimizing plant genetics for high-quality production [149]. - The acquisition of GVB Biopharma is expected to double the company's revenue going forward, enhancing its position in the hemp-derived active ingredients market [154]. - GVB's Prineville facility is one of the largest hemp extraction plants globally, with a projected CBD crude output capacity exceeding 15,000 kg/month at full capacity [155].

X 22ND CENTURY GROUP INVESTOR OVERVIEW October 2022 Nasdaq XXII CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS | --- | |----------------------------------------------------------------------------------------------------| | | | This presentation contains forward-looking statements | | concerning our business operations, and financial performance | | and conditions, as well as our plans, objectives, and | | expectations for our business operations and financial | | performance and conditions that are subject ...

22nd Century Group, Inc. (NASDAQ:XXII) Q2 2022 Earnings Conference Call August 9, 2022 10:00 AM ET Company Participants Joe Schepers - Vice President of Communications & Investor Relations Jim Mish - Chief Executive Officer John Miller - President of Tobacco Business Hugh Kinsman - Chief Financial Officer Conference Call Participants Vivien Azer - Cowen Aaron Grey - Alliance Global Partners Brian Wright - Roth Capital Partners Jim McIlree - Dawson James Alex Berman - Craig-Hallum Capital Group Operator Welc ...

SECOND QUARTER 2022 EARNINGS PRESENTATION August 9, 2022 XXII CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS | --- | |----------------------------------------------------------------------------------------------------| | | | This presentation contains forward-looking statements | | concerning our business operations, and financial performance | | and conditions, as well as our plans, objectives, and | | expectations for our business operations and financial | | performance and conditions that are subject to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ________ to ________ Commission File Number: 001-36338 22nd Century Group, Inc. (Exact name of registrant as specified in its charter) (State or other juri ...