Mr. Max Schwartz reports

ORGANIGRAM ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING, INCLUDING SHAREHOLDER APPROVAL OF C$124.6 MILLION INVESTMENT FROM BAT

Organigram Holdings Inc. has released the results of voting at its annual general and special meeting of shareholders held virtually on Jan. 18, 2024.

Election of directors

Each of the nine nominees listed in the company's management information circular dated Dec. 20, 2023, provided in connection with the meeting were elected as directors of the company. The company received proxies and virtual votes at the meeting as set out in the attached table.

Nominee            Votes for    % of votes for   Votes against   % of votes against

Peter Amirault    21,048,219           97.584%         521,043               2.416%       
Beena Goldenberg  21,042,349           97.557%         526,912               2.443%       
Dexter John       20,322,178           94.219%       1,246,910               5.781%       
Geoffrey Machum   21,022,452           97.465%         546,809               2.535%       
Sherry Porter     21,020,273           97.455%         548,990               2.545%       
Stephen Smith     20,352,863           94.361%       1,216,227               5.639%       
Marni Wieshofer   20,338,914           94.297%       1,230,174               5.703%       
Simon Ashton      21,044,104           97.565%         525,158               2.435%       
Karina Gehring    21,045,939           97.574%         523,322               2.426%       

The biographies of the company's directors are set out in the circular, which is available under the company's profile on SEDAR+ and on EDGAR.

Committee composition

Following the meeting, the board has reviewed and approved the composition of its committees. The audit committee now consists of Mr. Smith (chair), Mr. John, Ms. Wieshofer and Mr. Ashton. The compensation committee now consists of Ms. Porter (chair), Mr. Machum and Ms. Gehring. The investment committee now consists of Mr. John (chair), Mr. Smith, Ms. Wieshofer and Mr. Ashton. The governance, nominating and sustainability committee remains unchanged consisting of Mr. Machum (chair), Ms. Porter and Mr. John.

Appointment of auditor

Further, an ordinary resolution approving the appointment of KPMG LLP as the company's auditor until the next annual meeting of the shareholders of the company or until its successor is duly appointed, and authorizing the directors of the company to fix its remuneration was approved by the affirmative vote of 96.999 per cent of the votes represented at the meeting.

Shareholder approval of investment and articles of amendment

At the meeting, an ordinary resolution approving the previously announced $124.6-million follow-on strategic equity investment by the investor in the company was approved by the affirmative vote of 96.169 per cent of the votes represented at the meeting (or 86.926 per cent of the votes represented at the meeting excluding the votes attached to the common shares held by the investor in accordance with Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions and the rules of the Toronto Stock Exchange (TSX)).

Subject to the satisfaction or waiver of the other conditions to closing contained in the subscription agreement with the investor dated Nov. 5, 2023, as amended on Dec. 20, 2023, the closing of the first tranche of the investment is expected to close on or around Jan. 23, 2024.

In addition, a special resolution approving the amendment of the company's articles to create a new class of Class A preferred shares to be issued by the company to the investor in the investment was approved by the affirmative vote of 92.139 per cent of the votes represented at the meeting.

Following receipt of the necessary shareholder approval, the company filed articles of amendment to create the new class of Class A preferred shares. A copy of the articles of amendment will be available under the company's profile on SEDAR+ and on EDGAR. The Class A preferred shares will not be listed for trading on the TSX or on any other stock exchange.

Further details relating to the investment can be found in the press release issued by the company on Nov. 6, 2023, and the circular.

About Organigram Holdings Inc.

Organigram Holdings is a Nasdaq Global Select Market and TSX-listed company whose wholly owned subsidiaries include Organigram Inc., a licensed producer of cannabis, cannabis-derived products and cannabis-infused edibles in Canada.

Organigram is focused on producing high-quality cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the company's global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, SHRED, SHRED'ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, N.B., and Lac-Superieur, Que., with a dedicated edibles manufacturing facility in Winnipeg, Man. The company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

We seek Safe Harbor.