Turning Point Brands, Inc. Executive Leadership Changes

Graham Purdy has resigned as President and Chief Executive Officer and as a member of the board of directors of Turning Point Brands, Inc. for personal reasons, effective September 30, 2026. His resignation was not related to any disagreement with the Company or the Board. David E. Glazek, currently Executive Chairman, has been appointed as the new Chief Executive Officer, effective October 1, 2026. Mr. Glazek has served as a director since 2012 and Executive Chairman since 2023. The Company is also reaffirming its full-year 2026 Modern Oral gross sales guidance range of $330 million to $350 million and net sales guidance of $260 million to $270 million. However, the full-year EBITDA guidance range has been tightened to $70 million to $80 million from $70 million to $90 million due to assumptions of no margin benefit from onshoring manufacturing until 2027 and prolonged, higher freight costs.