On October 2, 2022, The Greenrose Holding Company Inc. (the Company) received a Notice of Default (the Notice of Default) from the legal representatives on behalf of DXR Finance, LLC (DXR Finance) in reference to the Credit Agreement, dated November 26, 2021 (Credit Agreement), by and among the Company, as Borrower (as defined in the Credit Agreement), the lenders identified on the signature pages of the Credit Agreement (Lenders), and DXR Finance, as Agent (as defined in the Credit Agreement) for the Lenders. Pursuant to the Notice of Default, DXR Finance notified the Company that it is considering its rights and remedies pursuant to the Loan Documents (as defined in the Credit Agreement), including but not limited to those identified in Section 9.1 of the Credit Agreement with respect to the Specified Defaults (as defined in the Notice of Default), the Event of Default and the Impending Default, and without waiving any rights, remedies, powers, privileges and defenses afforded under the Credit Agreement and Loan Documents.