Mr. Omar Khan reports

HIGH TIDE TO OPEN FIRST CANNA CABANA IN PETERBOROUGH, ONTARIO

Pending regulatory approval, High Tide Inc. expects to open its first Canna Cabana location in the city of Peterborough. Once open, this location will bring High Tide's Canadian Canna Cabana store count to 233, including 107 in Ontario.

"Canna Cabana's growing consumer appeal and strong Ontario performance give us a clear opportunity to keep expanding into communities we have not yet served. Peterborough is another step in that strategy. Recent third party research ranked Canna Cabana first nationally in brand awareness and as the retailer surveyed consumers shop most often. Our established Ontario stores also generated average revenue of 2.4 times the provincial peer average in June, 2026. That combination of consumer preference and strong store performance reinforces my confidence as we prepare to introduce our exceptional value to Peterborough's cannabis consumers," said Raj Grover, founder and chief executive officer of High Tide.

"For our shareholders, the priority is to translate these competitive strengths into high-quality organic growth, funded by the cash our business generates. Peterborough builds on our recent opening in Lindsay and strengthens our presence across the Kawarthas. We will remain selective on M&A, pursuing opportunities only where the strategic fit and financial returns justify them. With many more exciting locations in our construction pipeline, we look forward to welcoming new ELITE and Cabana Club members and extending Canna Cabana's reach, while maintaining the capital discipline that has brought us this far," added Mr. Grover.

The company's new Canna Cabana located at 400 Lansdowne St. East in Peterborough, Ont., is expected to begin selling recreational cannabis products and consumption accessories for adult use on Oct. 15, 2026.

The store is located on Lansdowne Street East, one of Peterborough's main commercial arterials, in a plaza anchored by a major grocer and a provincial liquor store, with national apparel and discount retailers and a quick-service restaurant as neighbours. The company believes that the plaza's grocery and liquor-store co-tenancy may provide recurring customer traffic complementary to Canna Cabana's retail model. This new location builds on the recent opening in Lindsay and strengthens the company's presence across the Kawarthas.

Grant of RSUs

The company also announces that its board of directors has approved the grant of an aggregate of 352,674 restricted share units of the company (RSUs) to certain directors of the company.

The RSUs were granted under the company's omnibus equity incentive plan, effective June 2, 2022, and will vest 12 months following the date of grant. Each RSU entitles the holder to receive one common share of the company upon vesting, subject to the terms of the plan and the applicable grant agreement. The common shares issuable upon settlement of the RSUs will be subject to a statutory four-month-and-one-day hold period and such additional restrictions as may apply under foreign securities laws.

As directors of the company received an aggregate of 352,674 RSUs, the granting of RSUs represents a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The participation of the related parties of the company is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the RSUs granted to related parties does not exceed 25 per cent of the company's market capitalization.

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 233 domestic and one international location. The company's Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Excluding British Columbia, where store counts are capped at eight, the company holds a growing 14-per-cent share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. In 2025, the company became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived products.
• Medical cannabis distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 10.5-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 22 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 2026 for the sixth 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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