\n | \n | \n\n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Net sales<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n463,062<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n360,660<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of sales<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n198,748<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n159,095<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n264,314<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n201,565<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Selling, general, and administrative expenses<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n168,987<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n122,407<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other operating income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,674<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Operating income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n95,327<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n80,832<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(6,616<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,466<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13,983<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| (Income) losses from equity method investment<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,060<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,203<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Investment loss<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,159<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(310<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,235<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income from continuing operations before income taxes<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n83,143<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n64,956<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n16,929<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income from continuing operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n68,152<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n48,027<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations, net of tax<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(7,517<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Consolidated net income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n68,152<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n40,510<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss) attributable to non-controlling interest<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9,987<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n701<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net income attributable to Turning Point Brands, Inc.<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n58,165<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n39,809<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Basic income (loss) per common share:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Continuing operations<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n3.18<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2.67<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.43<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Basic earnings per share<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n3.18<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2.24<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted income (loss) per common share:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Continuing operations<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n3.11<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2.53<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.39<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted earnings per share<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n3.11<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2.14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted average common shares outstanding:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18,314,047<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,734,239<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18,730,635<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n19,362,806<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Turning Point Brands, Inc.<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Consolidated Statements of Income<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (dollars in thousands except share data)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (unaudited)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n\n Three Months Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Net sales<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n121,013<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n93,667<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of sales<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n53,359<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n41,249<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gross profit<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n67,654<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n52,418<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Selling, general, and administrative expenses<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n47,728<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n34,533<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other operating income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | –<\/td>\n | | \n | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Operating income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n19,926<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,885<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,675<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,382<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,631<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| (Income) losses from equity method investment<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,487<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Investment loss<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(146<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(224<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income from continuing operations before income taxes<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13,878<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14,478<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,235<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,118<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income from continuing operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11,643<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10,360<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations, net of tax<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(7,309<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Consolidated net income<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11,643<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,051<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net income (loss) attributable to non-controlling interest<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,434<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n635<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net income attributable to Turning Point Brands, Inc.<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n8,209<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,416<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Basic income (loss) per common share:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Continuing operations<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.43<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.55<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.41<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Basic earnings per share<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.43<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted income (loss) per common share:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Continuing operations<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.53<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Discontinued operations<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.40<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted earnings per share<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.42<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n0.13<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted average common shares outstanding:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n19,089,275<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,708,460<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n19,536,807<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n18,251,876<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Turning Point Brands, Inc.<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Consolidated Balance Sheets<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (dollars in thousands except share data)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (unaudited)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| ASSETS<\/b><\/td>\n | | \n\n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Current assets:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Cash<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n222,760<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n46,158<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts receivable, net of allowances of $206 in 2025 and $66 in 2024<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n25,726<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9,624<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Inventories, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n107,989<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n96,253<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Current assets held for sale<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11,470<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other current assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n60,675<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n34,700<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total current assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n417,150<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n198,205<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Property, plant, and equipment, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n36,247<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n26,337<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred tax assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n995<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Right of use assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n14,480<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n11,610<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred financing costs, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,180<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,823<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n136,097<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n135,932<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other intangible assets, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n64,042<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n65,254<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Master Settlement Agreement (MSA) escrow deposits<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n29,887<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n28,676<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Noncurrent assets held for sale<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,859<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other assets<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n64,667<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n20,662<\/p>\n<\/td>\n | | <\/tr>\n \n| Total assets<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n763,750<\/p>\n<\/td>\n | | \n | \n\n \n$<\/p>\n<\/td>\n | \n \n493,353<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Current liabilities:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Accounts payable<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n20,420<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n11,675<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued liabilities<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n53,760<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n31,096<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Current portion of long-term debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Current liabilities held for sale<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,049<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total current liabilities<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n74,180<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n44,820<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred income tax liability<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n8,289<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Notes payable and long-term debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n293,625<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n248,604<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Other long-term liabilities<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,965<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Lease liabilities<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10,708<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9,549<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total liabilities<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n391,767<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n302,973<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Commitments and contingencies<\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Stockholders\u2019 equity:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Preferred stock; $0.01 par value; authorized shares 40,000,000; issued and outstanding shares -0-<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Common stock, voting, $0.01 par value; authorized shares, 190,000,000; 20,589,527 issued shares, 19,132,384 outstanding shares at December 31, 2025, and 20,200,886 issued shares, 17,729,481 outstanding shares at December 31, 2024<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n216<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n202<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Common stock, nonvoting, $0.01 par value; authorized shares, 10,000,000; issued and outstanding shares -0-<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Additional paid-in capital<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n203,627<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n126,662<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Cost of repurchased common stock (1,457,143 and 2,471,405 shares at December 31, 2025 and 2024)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(47,637<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(83,144<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated other comprehensive loss<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,563<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,903<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated earnings<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n199,661<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n147,164<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-controlling interest<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,679<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,399<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total stockholders\u2019 equity<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n371,983<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n190,380<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total liabilities and stockholders\u2019 equity<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n763,750<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n493,353<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Turning Point Brands, Inc.<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| Consolidated Statements of Cash Flows<\/b><\/td>\n | | \n | \n | <\/tr>\n \n| (dollars in thousands)<\/i><\/td>\n | | \n | \n | <\/tr>\n \n| (unaudited)<\/i><\/td>\n | | \n | \n | <\/tr>\n \n | \nFor the year ended December 31,<\/b><\/td>\n<\/tr>\n\n | \n\n 2025<\/b><\/p>\n<\/td>\n | | \n\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Cash flows from operating activities:<\/td>\n | | \n | \n | <\/tr>\n \n| Consolidated net income<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n68,152<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n40,510<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations, net of tax<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,517<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n | | \n | \n | <\/tr>\n \n| Loss on extinguishment of debt<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,235<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss (gain) on sale of property, plant, and equipment<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n106<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n75<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Losses from equity method investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,159<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(310<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(484<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,032<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation and other amortization expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,177<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,439<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of other intangible assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,239<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,223<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of deferred financing costs<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,714<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,430<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred income tax (benefit) expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,931<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n519<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Stock compensation expense<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,974<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,243<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Noncash lease income<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,797<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(622<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on MSA investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(14<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Changes in operating assets and liabilities:<\/td>\n | | \n | \n | <\/tr>\n \n| Accounts receivable<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(16,114<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n185<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Inventories<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(11,584<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4,770<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Other current assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(25,413<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,421<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Other assets<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(4,835<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,767<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts payable<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8,603<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,689<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued liabilities and other<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,311<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,000<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Operating cash flows from continuing operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n57,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n60,958<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Operating cash flows from discontinued operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,104<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash provided by operating activities<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n57,374<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n67,062<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cash flows from investing activities:<\/td>\n | | \n | \n | <\/tr>\n \n| Capital expenditures<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(13,529<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(4,623<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(13,755<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(10,857<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from sale of investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,363<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,420<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Purchase of options agreement<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8,000<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of non-marketable equity investments<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,783<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(500<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds on sale of property, plant and equipment<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| MSA escrow deposits, net<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n46<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Investing cash flows from continuing operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(31,671<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(10,509<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Investing cash flows from discontinued operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash used in investing activities<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(31,671<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(10,509<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cash flows from financing activities:<\/td>\n | | \n | \n | <\/tr>\n \n| Convertible Senior Notes repurchased<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(118,541<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Payment of 2026 Senior Notes<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(250,000<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from 2036 Notes<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n300,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| At the market offering proceeds<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n97,499<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Interchange subscription agreement<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n11,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Payment of dividends<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(5,519<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4,905<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Payments of financing costs<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(7,285<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(133<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Exercise of options<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7,561<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,807<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Redemption of options<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(33<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(335<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Redemption of restricted stock units<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,324<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(914<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Issuance of restricted stock units<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Redemption of performance based restricted stock units<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2,626<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,212<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Common stock repurchased<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(5,051<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Financing cash flows from continuing operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n148,274<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(128,284<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Financing cash flows from discontinued operations<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet cash used in financing activities<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n148,274<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(128,284<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net (decrease) increase in cash<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n173,977<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(71,731<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Effect of foreign currency translation on cash<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(205<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n(182<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cash, beginning of period:<\/td>\n | | \n | \n | <\/tr>\n \n| Unrestricted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n48,941<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n117,886<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Restricted<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,961<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,929<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total cash at beginning of period<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n50,902<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n122,815<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Cash, end of period:<\/td>\n | | \n | \n | <\/tr>\n \n| Unrestricted<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n222,760<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n48,941<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Restricted<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,914<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,961<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Total cash at end of period<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n224,674<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n50,902<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-GAAP Financial Measures<\/b><\/p>\n \nTo supplement our financial information presented in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, we use non-U.S. GAAP financial measures, including EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income (Loss). We believe Adjusted EBITDA provides useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income (Loss) are used by management to compare our performance to that of prior periods for trend analyses and planning purposes and are presented to our board of directors. We believe that EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, and Adjusted Operating Income (Loss) are appropriate measures of operating performance because they eliminate the impact of expenses that do not relate to business performance.<\/p>\n \nWe define \u201cEBITDA\u201d as net income before interest expense, gain (loss) on extinguishment of debt, income tax expense, depreciation, amortization. We define \u201cAdjusted EBITDA\u201d as net income before interest expense, gain (loss) on extinguishment of debt, income tax expense, depreciation, amortization, other non-cash items and other items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define \u201cAdjusted Net Income\u201d as net income excluding items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define \u201cAdjusted Diluted EPS\u201d as diluted earnings per share excluding items that we do not consider ordinary course in our evaluation of ongoing operating performance. We define \u201cAdjusted Operating Income (Loss)\u201d as operating income (loss) excluding other non-cash items and other items that we do not consider ordinary course in our evaluation of ongoing operating performance.<\/p>\n \nNon-U.S. GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP. EBITDA, Adjusted Net Income, Adjusted EBITDA, Adjusted Diluted EPS, and Adjusted Operating Income (Loss) exclude significant expenses that are required by U.S. GAAP to be recorded in our financial statements and is subject to inherent limitations. In addition, other companies in our industry may calculate this non-U.S. GAAP measure differently than we do or may not calculate it at all, limiting its usefulness as a comparative measure.<\/p>\n \nIn accordance with SEC rules, we have provided, in the supplemental information attached, a reconciliation of the non-GAAP measures to the next directly comparable GAAP measures.<\/p>\n \n\n| Schedule A<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Turning Point Brands, Inc.<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Reconciliation of GAAP Net Income to Adjusted EBITDA<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (dollars in thousands)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (unaudited)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n\n For the Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Consolidated net income<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n58,165<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n39,809<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations, net of tax<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,517<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Add:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Interest expense, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n17,767<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n13,983<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,235<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n15,456<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n16,929<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,298<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,329<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,225<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,333<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| EBITDA<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n100,146<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n83,900<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Components of Adjusted EBITDA<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Corporate restructuring (a)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,260<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,634<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| ERP\/CRM (b)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n211<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n993<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Stock based compensation (c)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,974<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,243<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Transactional expenses and strategic initiatives(d)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,004<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,107<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring freight (e)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n837<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring legal (f)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n941<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| FDA PMTA (g)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,816<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,592<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Mark-to-market loss on Canadian inter-company note (h)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(513<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-cash asset impairment (i)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,738<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,722<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on investment (j)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,392<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| ERC refund (k)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(5,451<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Honorarium (l)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n318<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Manufacturing start-up costs (m)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Tariff adjustment (n)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| FET refund (o)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,674<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n119,522<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n104,459<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n(a)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with corporate restructuring, including severance and early retirement.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(b)<\/p>\n<\/td>\n | | \n\n \nRepresents cost associated with scoping and mobilization of new ERP and CRM systems and cost of duplicative ERP licenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(c)<\/p>\n<\/td>\n | | \n\n \nRepresents non-cash stock options, restricted stock, PSRUs, etc.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(d)<\/p>\n<\/td>\n | | \n\n \nRepresents the fees incurred for transaction expenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(e)<\/p>\n<\/td>\n | | \n\n \nRepresents elevated non-recurring outbound freight costs due to ERP transition.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(f)<\/p>\n<\/td>\n | | \n\n \nRepresents legal expenses incurred in connection with litigation related to an insurance claim.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(g)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with applications related to FDA premarket tobacco production application (“PMTA”).The PMTA regime requires the Company to submit an application to the FDA to receive marketing authorization to continue to sell certain of its product lines with continued sales permitted during the pendency of the applications. The application is a onetime resource-intensive process for each covered product line; however, due to the nature of the implementation process for those product lines already in the market, applications can take multiple years to complete rather than the typical one-time submission. The Company currently has only two product lines currently subject to the PMTA process, having utilized other regulatory pathway options available for our other product lines. The Company does not expect to submit additional PMTA applications for any new product lines after the submission for the pending two are complete.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(h)<\/p>\n<\/td>\n | | \n\n \nRepresents a mark-to-market loss attributable to foreign exchange fluctuation.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(i)<\/p>\n<\/td>\n | | \n\n \nRepresents impairment of goodwill, intangible and investment assets.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(j)<\/p>\n<\/td>\n | | \n\n \nRepresents gain on investments.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(k)<\/p>\n<\/td>\n | | \n\n \nRepresents an employee retention credit refund received which is included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(l)<\/p>\n<\/td>\n | | \n\n \nRepresents an honorarium gift included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(m)<\/p>\n<\/td>\n | | \n\n \nRepresents non-recurring expenses incurred during the start-up of manufacturing lines.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(n)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment to costs of goods sold to reflect prevailing tariff rates.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(o)<\/p>\n<\/td>\n | | \n\n \nRepresents a federal excise tax refund included in other operating income.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Schedule A<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Turning Point Brands, Inc.<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| Reconciliation of GAAP Net Income to Adjusted EBITDA<\/b><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (dollars in thousands)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n| (unaudited)<\/i><\/td>\n | | \n | \n | \n | <\/tr>\n \n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2025<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Consolidated net income<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n8,209<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n2,416<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from discontinued operations, net of tax<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,309<\/p>\n<\/td>\n<\/tr>\n | \n| Add:<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Interest expense, net<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,574<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,631<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on extinguishment of debt<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,478<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,118<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n814<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n831<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization expense<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,222<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n736<\/p>\n<\/td>\n<\/tr>\n | \n| EBITDA<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n17,297<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n19,041<\/p>\n<\/td>\n<\/tr>\n | \n| Components of Adjusted EBITDA<\/td>\n | | \n | \n | \n | <\/tr>\n \n| Corporate restructuring (a)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,027<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,904<\/p>\n<\/td>\n<\/tr>\n | \n| ERP\/CRM (b)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n212<\/p>\n<\/td>\n<\/tr>\n | \n| Stock based compensation (c)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,798<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,523<\/p>\n<\/td>\n<\/tr>\n | \n| Transactional expenses and strategic initiatives(d)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n438<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,107<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring freight (e)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring legal (f)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FDA PMTA (g)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n512<\/p>\n<\/td>\n<\/tr>\n | \n| Mark-to-market loss on Canadian inter-company note (h)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(153<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n<\/tr>\n | \n| Non-cash asset impairment (i)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,830<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on investment (j)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| ERC refund (k)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Honorarium (l)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Manufacturing start-up costs (m)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Tariff adjustment (n)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FET refund (o)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n30,025<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n$<\/p>\n<\/td>\n | \n \n26,241<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n(a)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with corporate restructuring, including severance and early retirement.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(b)<\/p>\n<\/td>\n | | \n\n \nRepresents cost associated with scoping and mobilization of new ERP and CRM systems and cost of duplicative ERP licenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(c)<\/p>\n<\/td>\n | | \n\n \nRepresents non-cash stock options, restricted stock, PSRUs, etc.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(d)<\/p>\n<\/td>\n | | \n\n \nRepresents the fees incurred for transaction expenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(e)<\/p>\n<\/td>\n | | \n\n \nRepresents elevated non-recurring outbound freight costs due to ERP transition.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(f)<\/p>\n<\/td>\n | | \n\n \nRepresents legal expenses incurred in connection with litigation related to an insurance claim.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(g)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with applications related to FDA premarket tobacco production application (“PMTA”).The PMTA regime requires the Company to submit an application to the FDA to receive marketing authorization to continue to sell certain of its product lines with continued sales permitted during the pendency of the applications. The application is a onetime resource-intensive process for each covered product line; however, due to the nature of the implementation process for those product lines already in the market, applications can take multiple years to complete rather than the typical one-time submission. The Company currently has only two product lines currently subject to the PMTA process, having utilized other regulatory pathway options available for our other product lines. The Company does not expect to submit additional PMTA applications for any new product lines after the submission for the pending two are complete.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(h)<\/p>\n<\/td>\n | | \n\n \nRepresents a mark-to-market loss attributable to foreign exchange fluctuation.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(i)<\/p>\n<\/td>\n | | \n\n \nRepresents impairment of goodwill, intangible and investment assets.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(j)<\/p>\n<\/td>\n | | \n\n \nRepresents gain on investments.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(k)<\/p>\n<\/td>\n | | \n\n \nRepresents an employee retention credit refund received which is included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(l)<\/p>\n<\/td>\n | | \n\n \nRepresents an honorarium gift included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(m)<\/p>\n<\/td>\n | | \n\n \nRepresents non-recurring expenses incurred during the start-up of manufacturing lines.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(n)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment to costs of goods sold to reflect prevailing tariff rates.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(o)<\/p>\n<\/td>\n | | \n\n \nRepresents a federal excise tax refund included in other operating income.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Schedule B<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nTurning Point Brands<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS<\/b><\/td>\n<\/tr>\n\n(dollars in thousands except share data)<\/i><\/td>\n<\/tr>\n\n(unaudited)<\/i><\/td>\n<\/tr>\n\n | \n | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n<\/tr>\n\n | \n | \nDecember 31, 2025<\/b><\/td>\n | | \nDecember 31, 2024<\/b><\/td>\n<\/tr>\n\n | \n | \nIncome from continuing operations before income taxes<\/b><\/td>\n | | \nIncome tax expense (r)<\/sup><\/b><\/td>\n | \nLoss from discontinued operations, net of tax (s)<\/b><\/td>\n | | \nNet loss attributable to non-controlling interest<\/b><\/td>\n | | \nAdjusted Net Income<\/b><\/td>\n | | \nAdjusted Diluted EPS<\/b><\/td>\n | | \nIncome from continuing operations before income taxes<\/b><\/td>\n | | \nIncome tax expense (r)<\/sup><\/b><\/td>\n | \nLoss from discontinued operations, net of tax (s)<\/b><\/td>\n | | \nNet loss attributable to non-controlling interest<\/b><\/td>\n | | \nNet Income<\/b><\/td>\n | | \nDiluted EPS<\/b><\/td>\n<\/tr>\n\n| GAAP Net Income and Diluted EPS<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 83,143<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 14,991<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 9,987<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 58,165<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3.11<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 64,956<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 16,929<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 7,517<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 701<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 39,809<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2.14<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Corporate restructuring (a)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,260<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n227<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,033<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.06<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,634<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,208<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,426<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.18<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| ERP\/CRM (b)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n211<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n38<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n173<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.01<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n993<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n259<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n734<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Stock based compensation (c)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,974<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,257<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,717<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.31<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n7,243<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,888<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,355<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.28<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Transactional expenses and strategic initiatives(d)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,004<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n361<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,643<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.09<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,107<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n549<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,558<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.08<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring freight (e)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n837<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n151<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n686<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring legal (f)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n941<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n170<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n771<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| FDA PMTA (g)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,816<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n868<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,948<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,592<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n936<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,656<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.14<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Mark-to-market loss on Canadian inter-company note (h)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(513<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(92<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(421<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.02<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n246<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n696<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Non-cash asset impairment (i)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n6,738<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,215<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,523<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.29<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,722<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n709<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,013<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.10<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on investment (j)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,392<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(251<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,141<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.06<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| ERC refund (k)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(5,451<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(983<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(4,468<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.24<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Honorarium (l)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n318<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n57<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n261<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.01<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Manufacturing start-up costs (m)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n116<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n526<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Tariff adjustment (n)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n359<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,632<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.09<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| FET refund (o)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,674<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(436<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,238<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.06<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| Tax benefit (p)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(123<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n123<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.01<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(901<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n901<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.05<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on discontinued operations (q)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(9,970<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9,970<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.51<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Net Income and Adjusted Diluted EPS<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 102,519<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 18,362<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 9,987<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 74,170<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3.96<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 85,515<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,386<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (2,453<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 701<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 65,881<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3.49<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nTotals may not foot due to rounding<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n(a)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with corporate restructuring, including severance and early retirement.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(b)<\/p>\n<\/td>\n | | \n\n \nRepresents cost associated with scoping and mobilization of new ERP and CRM systems and cost of duplicative ERP licenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(c)<\/p>\n<\/td>\n | | \n\n \nRepresents non-cash stock options, restricted stock, PSRUs, etc.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(d)<\/p>\n<\/td>\n | | \n\n \nRepresents the fees incurred for transaction expenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(e)<\/p>\n<\/td>\n | | \n\n \nRepresents elevated non-recurring outbound freight costs due to ERP transition.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(f)<\/p>\n<\/td>\n | | \n\n \nRepresents legal expenses incurred in connection with litigation related to an insurance claim.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(g)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with applications related to FDA premarket tobacco production application (“PMTA”).The PMTA regime requires the Company to submit an application to the FDA to receive marketing authorization to continue to sell certain of its product lines with continued sales permitted during the pendency of the applications. The application is a onetime resource-intensive process for each covered product line; however, due to the nature of the implementation process for those product lines already in the market, applications can take multiple years to complete rather than the typical one-time submission. The Company currently has only two product lines currently subject to the PMTA process, having utilized other regulatory pathway options available for our other product lines. The Company does not expect to submit additional PMTA applications for any new product lines after the submission for the pending two are complete.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(h)<\/p>\n<\/td>\n | | \n\n \nRepresents a mark-to-market loss attributable to foreign exchange fluctuation.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(i)<\/p>\n<\/td>\n | | \n\n \nRepresents impairment of goodwill, intangible and investment assets.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(j)<\/p>\n<\/td>\n | | \n\n \nRepresents gain on investments.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(k)<\/p>\n<\/td>\n | | \n\n \nRepresents an employee retention credit refund received which is included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(l)<\/p>\n<\/td>\n | | \n\n \nRepresents an honorarium gift included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(m)<\/p>\n<\/td>\n | | \n\n \nRepresents non-recurring expenses incurred during the start-up of manufacturing lines.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(n)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment to costs of goods sold to reflect prevailing tariff rates.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(o)<\/p>\n<\/td>\n | | \n\n \nRepresents a federal excise tax refund included in other operating income.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(p)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment from annual tax rate to annual tax rate of 18% in 2025 and 25% in 2024.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(q)<\/p>\n<\/td>\n | | \n\n \nRepresents loss on discontinued operations.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(r)<\/p>\n<\/td>\n | | \n\n \nIncome tax expense calculated using the effective tax rate for the year of 18.0% in 2025 and 26.1% in 2024.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(s)<\/p>\n<\/td>\n | | \n\n \nTax allocation for discontinued operations excluded from adjusted net income.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Schedule B<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nTurning Point Brands<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP Net Income to Adjusted Net Income and Diluted EPS to Adjusted Diluted EPS<\/b><\/td>\n<\/tr>\n\n(dollars in thousands except share data)<\/i><\/td>\n<\/tr>\n\n(unaudited)<\/i><\/td>\n<\/tr>\n\n | \n | \nThree Months Ended<\/b><\/td>\n | | \nThree Months Ended<\/b><\/td>\n<\/tr>\n\n | \n | \nDecember 31, 2025<\/b><\/td>\n | | \nDecember 31, 2024<\/b><\/td>\n<\/tr>\n\n | \n | \nIncome from continuing operations before income taxes<\/b><\/td>\n | | \nIncome tax expense (r)<\/sup><\/b><\/td>\n | \nLoss from discontinued operations, net of tax (s)<\/b><\/td>\n | | \nNet loss attributable to non-controlling interest<\/b><\/td>\n | | \nAdjusted Net Income<\/b><\/td>\n | | \nAdjusted Diluted EPS<\/b><\/td>\n | | \nIncome from continuing operations before income taxes<\/b><\/td>\n | | \nIncome tax expense (r)<\/sup><\/b><\/td>\n | \nLoss from discontinued operations, net of tax (s)<\/b><\/td>\n | | \nNet loss attributable to non-controlling interest<\/b><\/td>\n | | \nNet Income<\/b><\/td>\n | | \nDiluted EPS<\/b><\/td>\n<\/tr>\n\n| GAAP Net Income and Diluted EPS<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 13,878<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2,235<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3,434<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 8,209<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 0.42<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 14,478<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 4,118<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 7,309<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 635<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 2,416<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 0.13<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Corporate restructuring (a)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,027<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n165<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n862<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,904<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n826<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,078<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.11<\/p>\n<\/td>\n<\/tr>\n | \n| ERP\/CRM (b)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n212<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n60<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n152<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.01<\/p>\n<\/td>\n<\/tr>\n | \n| Stock based compensation (c)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,798<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n290<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,508<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.08<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,523<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n433<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,090<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.06<\/p>\n<\/td>\n<\/tr>\n | \n| Transactional expenses and strategic initiatives(d)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n438<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n71<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n367<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.02<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,107<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n315<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n792<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring freight (e)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring legal (f)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FDA PMTA (g)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,092<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n176<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n916<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.05<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n512<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n146<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n366<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.02<\/p>\n<\/td>\n<\/tr>\n | \n| Mark-to-market loss on Canadian inter-company note (h)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(153<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(25<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(128<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.01<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n268<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n674<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n<\/tr>\n | \n| Non-cash asset impairment (i)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n5,830<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n939<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,891<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.25<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on investment (j)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| ERC refund (k)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Honorarium (l)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n63<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n10<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n53<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.00<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Manufacturing start-up costs (m)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n103<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n539<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Tariff adjustment (n)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n321<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n1,670<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.09<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FET refund (o)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Tax benefit (p)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n420<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(420<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(0.02<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(725<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n725<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.04<\/p>\n<\/td>\n<\/tr>\n | \n| Loss on discontinued operations (q)<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(9,694<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n9,694<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n0.53<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted Net Income and Adjusted Diluted EPS<\/b><\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 26,606<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 4,705<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n –<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 3,434<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 18,467<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 0.95<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 21,678<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 5,441<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n (2,385<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 635<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 17,987<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 0.98<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nTotals may not foot due to rounding<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n(a)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with corporate restructuring, including severance and early retirement.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(b)<\/p>\n<\/td>\n | | \n\n \nRepresents cost associated with scoping and mobilization of new ERP and CRM systems and cost of duplicative ERP licenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(c)<\/p>\n<\/td>\n | | \n\n \nRepresents non-cash stock options, restricted stock, PSRUs, etc.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(d)<\/p>\n<\/td>\n | | \n\n \nRepresents the fees incurred for transaction expenses.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(e)<\/p>\n<\/td>\n | | \n\n \nRepresents elevated non-recurring outbound freight costs due to ERP transition.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(f)<\/p>\n<\/td>\n | | \n\n \nRepresents legal expenses incurred in connection with litigation related to an insurance claim.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(g)<\/p>\n<\/td>\n | | \n\n \nRepresents costs associated with applications related to FDA premarket tobacco production application (“PMTA”).The PMTA regime requires the Company to submit an application to the FDA to receive marketing authorization to continue to sell certain of its product lines with continued sales permitted during the pendency of the applications. The application is a onetime resource-intensive process for each covered product line; however, due to the nature of the implementation process for those product lines already in the market, applications can take multiple years to complete rather than the typical one-time submission. The Company currently has only two product lines currently subject to the PMTA process, having utilized other regulatory pathway options available for our other product lines. The Company does not expect to submit additional PMTA applications for any new product lines after the submission for the pending two are complete.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(h)<\/p>\n<\/td>\n | | \n\n \nRepresents a mark-to-market loss attributable to foreign exchange fluctuation.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(i)<\/p>\n<\/td>\n | | \n\n \nRepresents impairment of goodwill, intangible and investment assets.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(j)<\/p>\n<\/td>\n | | \n\n \nRepresents gain on investments.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(k)<\/p>\n<\/td>\n | | \n\n \nRepresents an employee retention credit refund received which is included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(l)<\/p>\n<\/td>\n | | \n\n \nRepresents an honorarium gift included in other (income) expense, net.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(m)<\/p>\n<\/td>\n | | \n\n \nRepresents non-recurring expenses incurred during the start-up of manufacturing lines.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(n)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment to costs of goods sold to reflect prevailing tariff rates.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(o)<\/p>\n<\/td>\n | | \n\n \nRepresents a federal excise tax refund included in other operating income.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(p)<\/p>\n<\/td>\n | | \n\n \nRepresents adjustment from annual tax rate to annual tax rate of 18% in 2025 and 25% in 2024.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(q)<\/p>\n<\/td>\n | | \n\n \nRepresents loss on discontinued operations.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(r)<\/p>\n<\/td>\n | | \n\n \nIncome tax expense calculated using the effective tax rate for the year of 18.0% in 2025 and 26.1% in 2024.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(s)<\/p>\n<\/td>\n | | \n\n \nTax allocation for discontinued operations excluded from adjusted net income.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| Schedule C<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \nTurning Point Brands, Inc.<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP Operating Income to Adjusted Operating Income<\/b><\/td>\n<\/tr>\n\n(dollars in thousands)<\/i><\/td>\n<\/tr>\n\n(unaudited)<\/i><\/td>\n<\/tr>\n\n | \nConsolidated<\/b><\/td>\n | | \nZig-Zag<\/b><\/td>\n | | \nStoker’s<\/b><\/td>\n<\/tr>\n\n | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n | | \nFor the Year Ended<\/b><\/td>\n<\/tr>\n\n | \nDecember 31, 2025<\/b><\/td>\n | | \nDecember 31, 2024<\/b><\/td>\n | | \nDecember 31, 2025<\/b><\/td>\n | | \nDecember 31, 2024<\/b><\/td>\n | | \nDecember 31, 2025<\/b><\/td>\n | | \nDecember 31, 2024<\/b><\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Net sales<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 463,062<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 360,660<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 178,478<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 192,394<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 284,584<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 168,266<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Gross profit<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 264,314<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 201,565<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 95,901<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 106,585<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 168,413<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 94,980<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Operating income (loss)<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 95,327<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 80,832<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 58,941<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 66,697<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 109,105<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 68,272<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Adjustments:<\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Corporate restructuring<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,260<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n4,634<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| ERP\/CRM<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n211<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n993<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Transactional expenses and strategic initiatives<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,004<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n2,107<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring freight<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n837<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Non-recurring legal<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n941<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FDA PMTA<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,816<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n3,592<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Mark-to-market loss on Canadian inter-company note<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(513<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(513<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n942<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Gain on investment<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,392<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| ERC refund<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(5,451<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Honorarium<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n318<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Manufacturing start-up costs<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n642<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Tariff adjustment<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,991<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| FET refund<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,674<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,674<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n | | \n\n \n\u00a0<\/p>\n<\/td>\n | \n \n–<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted operating income<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 100,991<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 91,426<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 58,428<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 65,965<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 109,747<\/b><\/p>\n<\/td>\n | | \n\n $<\/b><\/p>\n<\/td>\n | \n 68,272<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| Schedule C<\/b><\/td>\n | | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | <\/tr>\n \n | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | \u00a0<\/td>\n<\/tr>\n | \nTurning Point Brands, Inc.<\/b><\/td>\n<\/tr>\n\nReconciliation of GAAP Operating Income to Adjusted Operating Income<\/b><\/td>\n<\/tr>\n\n(dollars in thousands)<\/i><\/td>\n<\/tr>\n\n(unaudited)<\/i><\/td>\n<\/tr>\n\n | \nConsolidated<\/b><\/td>\n | \u00a0<\/td>\n | Zig-Zag<\/b><\/td>\n | \u00a0<\/td>\n | Stoker’s<\/b><\/td>\n<\/tr>\n\n | \nThree Months Ended<\/b><\/td>\n | \u00a0<\/td>\n | Three Months Ended<\/b><\/td>\n | \u00a0<\/td>\n | Three Months Ended<\/b><\/td>\n | Three Months Ended<\/b><\/td>\n | \u00a0<\/td>\n | Three Months Ended<\/b><\/td>\n | \u00a0<\/td>\n | Three Months Ended<\/b><\/td>\n<\/tr>\n\n | \nDecember 31, 2025<\/b><\/td>\n | \u00a0<\/td>\n | December 31, 2024<\/b><\/td>\n | \u00a0<\/td>\n | December 31, 2025<\/b><\/td>\n | December 31, 2024<\/b><\/td>\n | \u00a0<\/td>\n | December 31, 2025<\/b><\/td>\n | \u00a0<\/td>\n | December 31, 2024<\/b><\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | \u00a0<\/td>\n<\/tr>\n | \n| Net sales<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 121,013<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 93,667<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 40,038<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 45,891<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 80,975<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 47,776<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | \u00a0<\/td>\n<\/tr>\n | \n| Gross profit<\/b><\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 67,654<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 52,418<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 21,846<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 24,848<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 45,808<\/b><\/p>\n<\/td>\n | \u00a0<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 27,570<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | | \n | \n\u00a0<\/td>\n | | \n\u00a0<\/td>\n | \u00a0<\/td>\n<\/tr>\n | \n| Operating income (loss)<\/b><\/td>\n | \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |