Mr. Tim Conder reports

TILT HOLDINGS ANNOUNCES EARLY REPAYMENT OF BRIDGE NOTES AHEAD OF DECEMBER 2023 MATURITY DATE

Tilt Holdings Inc. has completed the early repayment, in full, of its $4.5-million (U.S.) in aggregate principal amount of senior secured promissory notes (the bridge notes), with an original issue discount of approximately $500,000 (U.S.), due Dec. 1, 2023.

"When we initially secured this instrument in May to meet unforeseen short-term cash obligations, we made clear our intention to extinguish this debt as quickly as possible," said Tim Conder, interim chief executive officer. "By repaying this obligation over three months prior to the scheduled maturity date, we have not only fulfilled this objective, but have reaffirmed our commitment to strengthening our balance sheet, meeting our debt obligations and maintaining alignment with our debt holders. We are pleased with the team's quick action to overcome this obstacle and appreciate the continued support of our investors as we seek to return to profitable growth."

About Tilt Holdings Inc.

Tilt helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, Tilt services brands and cannabis retailers across 39 states in the United States, as well as Canada, Israel, South America and the European Union. Tilt's core businesses include Jupiter Research LLC, a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations Commonwealth Alternative Care Inc. in Massachusetts, Standard Farms LLC in Pennsylvania, Standard Farms Ohio LLC in Ohio and its partnership with the Shinnecock Indian Nation in New York. Tilt is headquartered in Phoenix, Ariz.

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