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6/20/2025 <br />5 <br />Despite tax increases and greater license availability, the structure of municipal ownership continues to <br />offer substantial advantages: <br />WHY SAINT ANTHONY VILLAGE RETAINS A COMPETITIVE ADVANTAGE <br />Municipal ownership offers substantial advantages <br />•Federal tax (280E) exemption boosts net profitability <br />•Trust and transparency from city ownership attract <br />first-time consumers <br />•Ability to price competitively without compromising margin <br />•Zoning, permitting and site control equals faster path <br />to market by avoiding startup delays that face private <br />license holders <br />Saint Anthony Village can act <br />early, capture market share, and <br />build long-term brand loyalty <br />before the Minnesota cannabis <br />market matures. <br />Saint Anthony Village can act <br />early, capture market share, and <br />build long-term brand loyalty <br />before the Minnesota cannabis <br />market matures. <br />At The Village MUNI, Saint Anthony Village’s Municipal Liquor and Cannabis <br />stores, our mission is to foster exceptional service in a trusted environment for <br />our customers and community. <br />OUR MISSION & VALUES <br />Through integrity-driven operations, we aim to ensure public safety while generating <br />sustainable revenue that supports the vitality and well-being of our entire community. <br />We are committed to the responsible sale of federally, state, county, and locally regulated <br />consumables—actively preventing access to minors and intoxicated individuals. <br />SERVICE. TRUST. COMMUNITY. <br />9 <br />10 <br />49