Mr. Megan McCrae reports

ORGANIGRAM ANNOUNCES PRICING OF OVERNIGHT MARKETED PUBLIC OFFERING

Organigram Holdings Inc., in connection with its previously announced overnight marketed public offering of units of the company, has entered into an underwriting agreement with ATB Securities Inc., as lead underwriter, on behalf of itself and a syndicate of underwriters to sell 7.74 million units at a price of $3.23 per unit for total gross proceeds of approximately $25-million.

The company has granted the underwriters an overallotment option exercisable, in whole or in part, to purchase up to an additional 1,161,000 units at the offering price for up to 30 days following the closing of the offering, for market stabilization purposes and to cover any overallotments.

Each unit will be composed of one common share of the company and one-half of one common share purchase warrant of the company. Each whole warrant will be exercisable to acquire one common share for a period of four years following the closing date of the offering at an exercise price of $3.65 per warrant share, subject to adjustment in certain events.

The offering is expected to close on or about April 2, 2024, and is subject to market and other customary conditions, including the approval of the Toronto Stock Exchange and compliance with the notification rules of Nasdaq. The company expects to use the net proceeds from the offering to finance growth initiatives and for general corporate purposes.

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 (SEC) as a supplement to the company's registration statement on Form F-10 (SEC file No. 333-274686) under the United States/Canada multi-jurisdictional 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 Inc., 66 Wellington St. W, 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's 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.