British American Tobacco plc

Accomplished Executive Brings Three Decades of Transformation and Financial Leadership Experience from Global Consumer Goods and Financial Services Industries

LOUISVILLE, Colo., Oct. 21, 2025 /PRNewswire/ - (TSX: CWEB) (OTCQB: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), a botanical wellness innovation company and the market leader in cannabidiol (CBD) hemp extract wellness products, is pleased to announce the appointment of M. Borgia Walker to its Board of Directors, effective November 1, 2025.

Ms. Walker brings extensive global leadership experience spanning transformation, human resources, finance, mergers and acquisitions, compliance, and audit across the consumer goods and financial services industries. She currently serves as Chief People Officer at Reynolds American Inc., a fully owned subsidiary of British American Tobacco plc (LSE: BATS.L), where she leads the company's overall human resources strategy, talent acquisition, leadership development, organizational design, and cultural development for one of the largest markets in the global BAT Group. As Vice President of Strategic Projects from 2017 to 2023, she led a multi-year transformation initiative that delivered significant efficiencies over five years through automation, digitization, and significant organizational design improvements.

Ms. Walker's finance and audit background includes implementing enterprise risk management strategies, leading internal audit teams across all business functions, and managing major reorganizations, regulatory compliance programs, and FDA audit implementation.

Throughout her distinguished 30-year career with Reynolds American and its affiliates, Ms. Walker has demonstrated versatility and strategic vision. Her career illustrates successful cross-functional leadership, having held senior positions in human resources, finance, compliance, audit, and strategic transformation initiatives.

Committed to community service and corporate social responsibility, Ms. Walker has served as the Board Chair of Allegacy Federal Credit Union (a $2.2 billion financial institution), and as a director on the boards of the YWCA, Winston-Salem Symphony, and Horizons Residential Care Center. She was recognized as an Outstanding Woman in Business by the Triad Business Journal in 2022 and received the YWCA Women of Vision award in 2018.

Ms. Walker holds a Bachelor of Science in Accountancy from the University of Louisville and an MBA with a concentration in Finance from Webster University. She is a Certified Public Accountant (CPA), licensed in Kentucky since 2002.

"BAT's institutional backing and ongoing strategic support on our board benefits all our stakeholders. Borgia's extensive experience with large-scale organizational transformations and her financial acumen will be invaluable to the evolution of Charlotte's Web and its market leadership position," said Angela McElwee, Chair of Charlotte's Web. "Her expertise in navigating complex regulatory environments aligns with our priorities and her commitment to sustainability and social responsibility also resonates strongly with Charlotte's Web's values as a Certified B Corporation."

"I am honored to join Charlotte's Web's Board of Directors at this pivotal time in the company's evolution," said Borgia Walker. "I look forward to working with the board and the management team to support the Company's strategic objectives and create long-term value for all stakeholders."

Ms. Walker's appointment brings the total number of Directors to six, replacing Jonathan Atwood, who has retired from the Board.

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and market leader in hemp extract wellness. The Company's product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, hemp-derived THC microdose gummies, functional mushroom gummies, CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs. Through its substantially vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with analytic testing for quality assurance. Charlotte's Web products are distributed to retailers and healthcare practitioners throughout the U.S.A. and are available online through the Company's website at www.charlottesweb.com.

Forward-Looking Information

Certain information provided herein constitutes forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements are typically identified by words such as "may", "will", "should", "could", "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements.

By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on certain assumptions and analysis by management of the Company in light of its experience and perception of historical trends, current conditions and expected future development and other factors that it believes are appropriate and reasonable.

 The material factors and assumptions used to develop the forward-looking statements herein include, but are not limited to: regulatory regime changes; anticipated product development and sales; the success of sales and marketing activities; product development and production expectations; outcomes from R&D activities; the Company's ability to deal with adverse growing conditions in a timely and cost-effective manner; the availability of qualified and cost-effective human resources; compliance with contractual and regulatory obligations and requirements; availability of adequate liquidity and capital to support operations and business plans; and expectations around consumer product demand. In addition, the forward-looking statements are subject to risks and uncertainties pertaining to, among other things: supply and distribution chains; the market for the Company's products; revenue fluctuations; regulatory changes; loss of customers and retail partners; retention and availability of talent; competing products; share price volatility; loss of proprietary information; product acceptance; internet and system infrastructure functionality; information technology security; available capital to fund operations and business plans; crop risk; economic and political considerations; and including but not limited to those risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, and other risk factors contained in other filings with the Securities and Exchange Commission available on http://www.sec.gov  and filings with Canadian securities regulatory authorities available at www.sedarplus.ca . The impact of any one risk, uncertainty, or factor on a particular forward-looking statement is not determinable with certainty, as these are interdependent, and the Company's future course of action depends on management's assessment of all information available at the relevant time.

Any forward-looking statement in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law, the Company assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. All forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.

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SOURCE Charlotte's Web Holdings, Inc.