Ms. Megan McCrae reports

ORGANIGRAM SUCCESSFULLY CLOSES PREVIOUSLY ANNOUNCED UNDERWRITTEN PUBLIC OFFERING

Organigram Holdings Inc. has closed its previously announced underwritten public offering of units of the company for total gross proceeds of $28,750,230. The company sold 8,901,000 units at a price of $3.23 per unit, which included 1,161,000 units sold pursuant to the exercise in full of the underwriters' overallotment option.

Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant is 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.

ATB Securities Inc., as the lead underwriter for the offering, and A.G.P. Canada Investments ULC acted as the underwriters for the offering. The units were offered in the United States through the underwriters' broker-dealer affiliates or agents. The company expects to use the net proceeds from the offering to finance growth initiatives and for general corporate purposes.

In connection with the offering, the company filed a prospectus supplement dated March 27, 2024, to the company's short form base shelf prospectus dated Oct. 6, 2023, with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada. In addition, the prospectus supplement was 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.

Copies of the prospectus supplement and the base shelf prospectus are available on SEDAR+ and copies of the prospectus supplement and the registration statement are available on EDGAR on the SEC's website. Copies of the prospectus supplement, the base shelf prospectus and the registration statement may also be obtained in 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 is a Nasdaq Global Select Market- and Toronto Stock Exchange-listed company whose wholly owned subsidiaries include Organigram Inc., a licensed producer of cannabis, cannabis-derived products and cannabis-infused edibles in Canada.

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