Ms. Megan McCrae reports

ORGANIGRAM ANNOUNCES LAUNCH OF OVERNIGHT MARKETED PUBLIC OFFERING

Organigram Holdings Inc. has arranged an overnight marketed public offering of units of the company for total gross proceeds of approximately $25-million. The offering is expected to be completed pursuant to an underwriting agreement to be entered into between the company and ATB Securities Inc., as lead underwriter, on behalf of itself and a syndicate of underwriters including A.G.P. Canada Investments ULC. The offering will be made in the United States through the lead underwriter's U.S. affiliate, ATB Capital Markets USA Inc.

The units are expected to comprise common shares of the company and common share purchase warrant of the company. The final composition of the units and the terms of the warrants will be determined in the context of the market.

The offering is expected to be priced in the context of the market with the price, total size and other final terms of the offering to be determined at the time of entering into a definitive underwriting agreement between the company and the underwriters. In addition, the company will grant the underwriters an overallotment option exercisable for a period of 30 days from the closing date of the offering to purchase up to an additional 15 per cent of the offering, which will comprise additional units at the offering price.

The offering is expected to close on April 2, 2024, and will be subject to market and other customary conditions, including the approval of the Toronto Stock Exchange and compliance with the notification rules of Nasdaq. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The company expects to use the net proceeds from the offering to finance growth initiatives and for general corporate purposes. The company sees compelling opportunities for accretive acquisitions and investments in both the Canadian market and international federally legal cannabis and hemp markets to deliver long-term value for shareholders.

The units will be offered pursuant to a prospectus supplement to the company's short form base shelf prospectus dated Oct. 6, 2023, to be filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. In addition, the prospectus supplement will be filed with the United States Securities and Exchange Commission (the SEC) as a supplement to the company's registration statement on Form F-10 (SEC file No. 333-274686) under the United States/Canada multijurisdictional disclosure system which includes the base shelf prospectus. The prospectus supplement, the base shelf prospectus and the registration statement contain important detailed information about the company and the offering. Prospective investors should read the prospectus supplement, the base shelf prospectus and the registration statement, and the other documents the company has filed on SEDAR+ and EDGAR before making an investment decision.

Copies of the prospectus supplement, following filing thereof, and the base shelf prospectus will be available on SEDAR+ and copies of the prospectus supplement and the registration statement will be available on EDGAR on the SEC's website. Copies of the prospectus supplement, following filing thereof, the base shelf prospectus and the registration statement may also be obtained from ATB Securities, 66 Wellington St. West, suite 3530, Toronto, Ont., M5K 1A1, attention: Jay Lewis, by telephone at 647-688-7077, or by e-mail at ogi-prospectus@atb.com.

About Organigram Holdings Inc.

Organigram Holdings' 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.