Charlotte's Web Holdings, Inc.'s CW Labs science division and Colorado State University's College of Agricultural Sciences ("CSU") have completed the first of three collaborative metabolomic hemp studies researching the complex chemical profile of full spectrum hemp extracts made from the Company's U.S. patented hemp cultivars. The collaboration examines cannabinoid profiles in hemp extracts under varying cultivars and conditions. Specifically, the studies explore the degree at which environmental conditions, geographic regions, harvesting times and different extraction methods may affect the resulting phytochemical profile of the hemp plant and the subsequent botanical extracts. Phase I of the investigation explicitly analyzed how hemp harvest processing and extraction protocols can be standardized for consistent chemical profile. Under the oversight of Dr. Jessica Prenni, Associate Professor in the Department of Horticulture at CSU, graduate student Janina Bowen researched the Company's proprietary hemp extracts in the Prenni Lab of the College of Agricultural Sciences. In phase I, the team at CSU has been collaborating with Charlotte's Web's CW Labs research scientists to examine hemp extracts for phytocannabinoids, terpenes, and various other compounds using sophisticated analytical equipment including liquid chromatography (LC-) and gas chromatography (GC-) coupled to mass spectrometry (MS) and more. Long term, the study data discovered as a result this academic research will provide a deeper understanding of the range of constituents in full spectrum hemp extract, and an understanding of what factors can affect that profile. The information is intended to guide optimizing phytochemical fingerprints and will help to improve agricultural and extraction methods, and further standardize the process, procedures, test methods and controls for consistency and reproducibility. Phase I of this scientific collaboration has been underway for more than two years and the research will be formally peer reviewed and published.