Mr. Raj Grover reports

HIGH TIDE CLOSES ACQUISITION OF NORTHERN HELM, ADDING FOUR RETAIL CANNABIS STORES IN ONTARIO

Further to the press release dated June 15, 2026, High Tide Inc. has completed the acquisition contemplated by the share purchase agreement dated June 12, 2026, pursuant to which High Tide acquired 100 per cent of the equity interest of J. Supply Holdings Inc., operating as Northern Helm, resulting in High Tide's acquisition of four retail cannabis stores operated by Northern Helm in Ontario for $7.77-million. The stores are located at 2377 Highway 2 in Bowmanville, 225 Gore Rd. in Kingston, 1414 King St. East in Courtice and 199 Wentworth St. West in Oshawa. With the completion of the transaction, High Tide now operates 228 cannabis retail store locations across Canada, including 103 in the province of Ontario.

"At High Tide, every acquisition and every new store must strengthen our competitive position for years to come. We remain highly disciplined in pursuing both acquisitions and organic growth opportunities, investing only where we see the ability to create meaningful long-term value for our shareholders," said Raj Grover, founder and chief executive officer of High Tide.

"This acquisition not only strengthens our presence across the Durham region and Eastern Ontario, but also provides an outstanding opportunity to welcome both existing and new cannabis consumers into our Cabana Club and Elite ecosystem. We look forward to delivering the unmatched value, savings and member experience that continue to differentiate Canna Cabana," added Mr. Grover.

Transaction details

The transaction was completed pursuant to the terms of the acquisition agreement. The transaction has been conditionally approved by the TSX Venture Exchange and is awaiting final approval. Consideration for the 100 per cent of equity interests acquired was $3.06-million in assumed debt with a 2-per-cent interest rate, with 40 per cent of the remaining amount paid in cash ($1.88-million), and the remaining 60 per cent ($2.83-million) paid in 921,486 common shares of High Tide on closing on the basis of a deemed price of $3.067 per High Tide share. The High Tide shares are subject to a statutory hold period of four months and one day from the date of closing. For the three months ended March 31, 2026, the stores generated annualized revenue of $8.5-million and annualized adjusted earnings before interest, taxes, depreciation and amortization of $1.7-million. The purchase price represents 4.5 times the annualized adjusted EBITDA of the stores for that period and is subject to adjustment for working capital.

About High Tide Inc.

High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide is uniquely built around the cannabis consumer, with wholly diversified and fully integrated operations across all components of cannabis, including:

• Retail: Canna Cabana is the largest cannabis retail chain in Canada, with 228 domestic and one international location. The company's Canadian bricks and mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, holding a growing 12-per-cent share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived cannabidiol products. In 2025, the company became the first North American cannabis operator to launch a bricks and mortar presence in Germany.
• Medical cannabis distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14-per-cent share of the German medical cannabis market, built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's top growing companies by The Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top-50 company by the TSX Venture Exchange in 2022, 2024 and 2025. High Tide was also ranked No. 1 in the retail category on the Financial Times list of Americas' fastest growing companies for 2023.

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