Exhibit 99.1

•

Net sales were comparable with Q4 2020 at $105.3 million despite a 22 percent decline in NewGen sales

•

Gross profit decreased 3.8 percent to $50.3 million

•

Net income decreased 20.3 percent to $11.5 million

•

Adjusted EBITDA decreased 7.6 percent to $23.8 million (see Schedule A for a reconciliation to net income)

•

Diluted EPS of $0.57 and Adjusted Diluted EPS of $0.66 as compared to $0.68 and $0.77 in the same period one year ago, respectively (see Schedule B for a reconciliation to Diluted EPS)

•

Net sales increased 10.0 percent to $445.5 million

•

Gross profit increased 14.7 percent to $217.8 million

•

Net income increased 36.3 percent to $52.1 million

•

Adjusted EBITDA increased 19.8 percent to $108.1 million (see Schedule A for a reconciliation to net income)

•

Diluted EPS of $2.52 and Adjusted Diluted EPS of $3.03 as compared to $1.85 and $2.60 in the same period one year ago, respectively (see Schedule B for a reconciliation to Diluted EPS)

•

$1.5 million of stock options, restricted stock and incentive expense as compared to $0.6 million in the year-ago period

•

$0.2 million of transaction expenses as compared to $1.2 million in the year-ago period

•

$0.7 million of FDA PMTA-related expenses compared to none in the year-ago period

•

$4.3 million in outbound freight expense compared to $3.4 million in the year-ago period with the increase due to higher shipping costs on vapor products related to PACT Act implementation and higher freight costs across all segments

•

$1.7 million from the accounting consolidation of Turning Point Brands Canada in the current quarterly period

•

Zig-Zag Products sales of $193 to $203 million

•

Stoker’s Products sales of $127 to $134 million

		Three Months Ended December 31,
		2021				2020
Net sales		$	105,283			$	105,285
Cost of sales			54,952				52,969
Gross profit			50,331				52,316
Selling, general, and administrative expenses			31,613				30,127
Operating income			18,718				22,189
Interest expense, net			5,094				3,344
Investment loss (income)			6,965				(70	)
Gain on extinguishment of debt			(7,485	)			-
Net periodic benefit income, excluding service cost			-				(8	)
Income before income taxes			14,144				18,923
Income tax expense			2,889				4,545
Consolidated net income			11,255				14,378
Net loss attributable to non-controlling interest			(199	)			-
Net income attributable to Turning Point Brands, Inc.		$	11,454			$	14,378
Basic income per common share:
Net income attributable to Turning Point Brands, Inc.		$	0.61			$	0.74
Diluted income per common share:
Net income attributable to Turning Point Brands, Inc.		$	0.57			$	0.68
Weighted average common shares outstanding:
Basic			18,707,286				19,160,740
Diluted			22,153,988				22,743,881
Supplemental disclosures of statement of income information:
Excise tax expense		$	6,212			$	7,114
FDA fees		$	166			$	154

		For the year ended December 31,
		2021				2020
Net sales		$	445,471			$	405,111
Cost of sales			227,637				215,121
Gross profit			217,834				189,990
Selling, general, and administrative expenses			127,513				125,563
Operating income			90,321				64,427
Interest expense, net			20,500				13,487
Investment loss (income)			6,673				(198	)
Gain on extinguishment of debt, net			(2,154	)			-
Net periodic benefit cost, excluding service cost			-				989
Income before income taxes			65,302				50,149
Income tax expense			14,040				11,957
Consolidated net income			51,262				38,192
Net loss attributable to non-controlling interest			(797	)			-
Net income attributable to Turning Point Brands, Inc.		$	52,059			$	38,192
Basic income per common share:
Net income attributable to Turning Point Brands, Inc.		$	2.75			$	1.97
Diluted income per common share:
Net income attributable to Turning Point Brands, Inc.		$	2.52			$	1.85
Weighted average common shares outstanding:
Basic			18,917,570				19,398,474
Diluted			22,381,994				22,937,441
Supplemental disclosures of statement of income information:
Excise tax expense		$	27,353			$	22,997
FDA fees		$	679			$	552

		December 31,
ASSETS		2021				2020
Current assets:
Cash		$	128,320			$	41,765
Accounts receivable, net of allowances of $262 in 2021 and $150 in 2020			6,496				9,331
Inventories			87,607				85,856
Other current assets			26,746				26,451
Total current assets			249,169				163,403
Property, plant, and equipment, net			18,650				15,524
Deferred income taxes			1,363				610
Right of use assets			15,053				17,918
Deferred financing costs, net			388				641
Goodwill			162,333				159,621
Other intangible assets, net			87,485				79,422
Master Settlement Agreement (MSA) escrow deposits			31,720				32,074
Other assets			35,399				26,836
Total assets		$	601,560			$	496,049
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	7,361			$	9,201
Accrued liabilities			32,937				35,225
Current portion of long-term debt			-				12,000
Other current liabilities			38				203
Total current liabilities			40,336				56,629
Notes payable and long-term debt			414,172				302,112
Lease liabilities			13,336				16,117
Other long-term liabilities			-				3,704
Total liabilities			467,844				378,562
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value; authorized shares 40,000,000; issued and outstanding shares -0-			-				-
Common stock, voting, $0.01 par value; authorized shares, 190,000,000; 19,690,884 issued shares, 18,395,476 outstanding shares at December 31, 2021, and 19,532,464 issued shares, 19,133,794 outstanding shares at December 31, 2020			197				195
Common stock, nonvoting, $0.01 par value; authorized shares, 10,000,000;
issued and outstanding shares -0-			-				-
Additional paid-in capital			108,811				102,423
Cost of repurchased common stock
(1,295,408 shares at December 31, 2021 and 398,670 shares at December 31, 2020)			(48,869	)			(10,191	)
Accumulated other comprehensive loss			(195	)			(2,635	)
Accumulated earnings			71,460				23,645
Non-controlling interest			2,312				4,050
Total stockholders' equity			133,716				117,487
Total liabilities and stockholders' equity		$	601,560			$	496,049

		For the Year Ended December 31,
		2021				2020
Cash flows from operating activities:
Consolidated net income		$	51,262			$	38,192
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on extinguishment of debt			(2,154	)			-
Pension settlement and curtailment loss			-				1,188
(Gain) loss on disposal of property, plant, and equipment			(54	)			123
Impairment loss			-				149
Loss on investments			7,100				-
Depreciation expense			3,105				3,237
Amortization of other intangible assets			1,907				1,781
Amortization of deferred financing costs			2,541				2,230
Deferred income taxes			(1,485	)			4,742
Stock compensation expense			7,557				2,554
Noncash lease (income) expense			(167	)			370
Gain on MSA escrow deposits			(255	)			-
Changes in operating assets and liabilities:
Accounts receivable			3,317				(2,112	)
Inventories			(9	)			(8,004	)
Other current assets			(134	)			(5,373	)
Other assets			996				2,076
Accounts payable			(2,367	)			(5,064	)
Accrued postretirement liabilities			-				(54	)
Accrued liabilities and other			(2,943	)			7,643
Net cash provided by operating activities			68,217				43,678
Cash flows from investing activities:
Capital expenditures		$	(6,156	)		$	(6,135	)
Acquisitions, net of cash acquired			(16,416	)			(39,441	)
Payments for investments			(16,657	)			(19,250	)
Restricted cash, MSA escrow deposits			(19,664	)			-
Proceeds on the sale of property, plant and equipment			54				3
Net cash used in investing activities			(58,839	)			(64,823	)

		For the Year Ended December 31,
		2021				2020
Cash flows from financing activities:
Proceeds from Senior Notes		$	250,000			$	-
Payments of 2018 first lien term loan			(130,000	)			(16,000	)
Settlement of interest rate swaps			(3,573	)			-
Payment of promissory note			(9,625	)			-
Payment of IVG note			-				(4,240	)
Proceeds from unsecured note			-				7,485
Standard Diversified Inc. reorganization, net of cash acquired			-				(1,737	)
Payment of dividends			(4,096	)			(3,802	)
Payments of financing costs			(6,921	)			(194	)
Exercise of options			2,071				862
Redemption of options			(2,111	)			(1,523	)
Common stock repurchased			(38,678	)			(10,191	)
Net cash provided by (used in) financing activities		$	57,067			$	(29,340	)
Net increase (decrease) in cash		$	66,445			$	(50,485	)
Effect of foreign currency translation on cash		$	191			$	-
Cash, beginning of period:
Unrestricted		$	41,765			$	95,250
Restricted			35,074				32,074
Total cash at beginning of period		$	76,839			$	127,324
Unrestricted		$	128,320			$	41,765
Restricted			15,155				35,074
Total cash at end of period		$	143,475			$	76,839

		Three Months Ended December 31,
		2021				2020
Net income attributable to Turning Point Brands, Inc.		$	11,454			$	14,378
Add:
Interest expense, net			5,094				3,344
Gain on extinguishment of debt			(7,485	)			-
Income tax expense			2,889				4,545
Depreciation expense			792				755
Amortization expense			476				477
EBITDA		$	13,220			$	23,499
Components of Adjusted EBITDA
Other (a)			-				(9	)
Stock options, restricted stock, and incentives expense (b)			1,542				568
Transactional expenses (c)			190				1,178
FDA PMTA (d)			708				-
Corporate and vapor restructuring (e)			1,026				517
Non-cash asset impairment (f)			7,100				-
Adjusted EBITDA		$	23,786			$	25,753

(a)	Represents non-cash pension expense (income) and foreign exchange hedging.

(b)	Represents non-cash stock options, restricted stock, incentives expense and Solace performance stock units.

(c)	Represents the fees incurred for transaction expenses.

(d)	Represents costs associated with applications related to FDA premarket tobacco product application ("PMTA").

(e)

Costs during the three month period ended December 31, 2021 represent the write-down and disposal cost of discontinued vape inventory and cost of retail store lease termination. Costs during the three month period ended December 31, 2020 represent the costs from the retirement of a senior executive.

(f)	Represents impairment of investment in dosist.

		For the Year Ended December 31,
		2021				2020
Net income attributable to Turning Point Brands, Inc.		$	52,059			$	38,192
Add:
Interest expense, net			20,500				13,487
Gain on extinguishment of debt			(2,154	)			-
Income tax expense			14,040				11,957
Depreciation expense			3,105				3,237
Amortization expense			1,907				1,781
EBITDA		$	89,457			$	68,654
Components of Adjusted EBITDA
Other (a)			-				988
Stock options, restricted stock, and incentives expense (b)			7,557				2,555
Transactional expenses (c)			1,267				3,087
FDA PMTA (d)			1,668				14,435
Corporate and vapor restructuring (e)			1,026				517
Non-cash asset impairment (f)			7,100				-
Adjusted EBITDA		$	108,075			$	90,236

(a)	Represents non-cash pension expense (income) and foreign exchange hedging.

(b)	Represents non-cash stock options, restricted stock, incentives expense and Solace performance stock units.

(c)	Represents the fees incurred for transaction expenses.

(d)	Represents costs associated with applications related to FDA premarket tobacco product application ("PMTA").

(e)	Costs during the year ended December 31, 2021 represent the write-down and disposal cost of discontinued vape inventory and cost of retail store lease termination. Costs during the year ended December 31, 2020 represent the cost from the retirement of a senior executive.

(f)	Represents impairment of investment in dosist.

		Three Months Ended December 31,
		2021				2020
GAAP diluted EPS		$	0.57			$	0.68
Other (a)			-				(0.00	)
Gain on extinguishment of debt (b)			(0.27	)			-
Stock options, restricted stock, and incentives expense (c)			0.06				0.02
Transactional expenses (d)			0.01				0.04
FDA PMTA (e)			0.03				-
Corporate and vapor restructuring (f)			0.04				0.02
Non-cash asset impairment (g)			0.26				-
Impact of quarterly tax items to effective tax rate (h)			(0.02	)			0.01
Adjusted diluted EPS (i)		$	0.66			$	0.77
Total may not foot due to rounding

(a)	Represents non-cash pension expense (income) and foreign exchange hedging reporting tax effected at the quarterly tax rate.

(b)	Represents gain on extinguishment of debt tax effected at the quarterly tax rate.

(c)	Represents non-cash stock options, restricted stock, incentives expense and Solace PRSUs tax effected at the quarterly tax rate.

(d)	Represents the fees incurred for transaction expenses tax effected at the quarterly tax rate.

(e)	Represents costs associated with applications related to the FDA PMTA tax effected at the quarterly tax rate.

(f)

Costs during the year ended December 31, 2021 represent the write-down and disposal cost of discontinued vape inventory and cost of retail store lease termination tax effected at the quarterly rate. Costs during the year ended December 31, 2020 represent the cost from the retirement of a senior executive tax effected at the quarterly tax rate.

(g)	Represents impairment of investment in dosist tax effected at the quarterly tax rate.

(h)	Represents adjustment from quarterly tax rate to annual projected tax rate of 23% in 2021 and 2020.

(i)	Diluted shares outstanding includes the full 3.2 million share dilution of debt conversion without a 1.1 million share offsetting impact from capped call transactions.

		For the Year Ended December 31,
		2021				2020
GAAP diluted EPS		$	2.52			$	1.85
Other (a)			-				0.03
Gain on extinguishment of debt (b)			(0.08	)			-
Stock options, restricted stock, and incentives expense (c)			0.27				0.08
Transactional expenses (d)			0.04				0.10
FDA PMTA (e)			0.06				0.48
Corporate and vapor restructuring (f)			0.04				0.02
Non-cash asset impairment (g)			0.25				-
Impact of quarterly tax items to effective tax rate (h)			(0.06	)			0.03
Adjusted diluted EPS (i)		$	3.03			$	2.60
Total may not foot due to rounding

(a)	Represents non-cash pension expense (income) and foreign exchange hedging reporting tax effected at the YTD tax rate.

(b)	Represents gain on extinguishment of debt tax effected at the YTD tax rate.

(c)	Represents non-cash stock options, restricted stock, incentives expense and Solace PRSUs tax effected at the YTD tax rate.

(d)	Represents the fees incurred for transaction expenses tax effected at the YTD tax rate.

(e)	Represents costs associated with applications related to the FDA PMTA tax effected at the YTD tax rate.

(f)

Costs during the year ended December 31, 2021 represent the write-down and disposal cost of discontinued vape inventory and cost of retail store lease termination tax effected at the YTD rate. Costs during the year ended December 31, 2020 represent the cost from the retirement of a senior executive tax effected at the YTD rate.

(g)	Represents impairment of investment in dosist tax effected at the YTD rate.

(h)	Represents adjustment from annual tax rate to annual projected tax rate of 23% in 2021 and 2020 .

(i)	Diluted shares outstanding includes the full 3.2 million share dilution of debt conversion without a 1.1 million share offsetting impact from capped call transactions.

		Consolidated								Zig-Zag								Stoker's								NewGen
		4th Quarter				4th Quarter				4th Quarter				4th Quarter				4th Quarter				4th Quarter				4th Quarter				4th Quarter
		2021				2020				2021				2020				2021				2020				2021				2020
Net sales		$	105,283			$	105,285			$	46,051			$	40,522			$	31,184			$	28,785			$	28,048			$	35,978
Gross profit		$	50,331			$	52,316			$	26,397			$	25,212			$	16,942			$	15,340			$	6,992			$	11,764
Adjustments:
Corporate and vapor restructuring			264				-				-				-				-				-				264				-
Adjusted gross profit		$	50,595			$	52,316			$	26,397			$	25,212			$	16,942			$	15,340			$	7,256			$	11,764
Operating income		$	18,718			$	22,189			$	19,212			$	20,461			$	12,687			$	11,746			$	(3,427	)		$	1,308
Adjustments:
Transaction costs			190				1,178				-				-				-				-				-				-
FDA PMTA			708				-				-				-				-				-				-				-
Corporate and vapor restructuring			1,026				517				-				-				-				-				1,026				-
Adjusted operating income		$	20,642			$	23,884			$	19,212			$	20,461			$	12,687			$	11,746			$	(2,401	)		$	1,308

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