Mr. Bryan Nolt reports

BRECKENRIDGE DISTILLERY AND SOUTHERN GLAZER'S EXPAND PARTNERSHIP ACROSS NEW YORK AND CALIFORNIA

Tilray Brands Inc.'s Breckenridge Distillery has an expanded distribution partnership with Southern Glazer's Wine & Spirits in New York and California, two of the largest and most strategically important spirits markets in the United States.

The expanded partnership is expected to significantly accelerate Breckenridge Distillery's growth and market penetration across both states by increasing distribution, retail visibility and consumer access to the brand's expanding portfolio. The collaboration includes Breckenridge Distillery's award-winning bourbon whiskey, whiskey finishes, vodka, rum and gin, as well as newer innovations, including Mountain Shot, Honey Whiskey and the brand's first ready-to-drink offering, Breckenridge vodka seltzers.

Bryan Nolt, founder of Breckenridge Distillery, stated: "From day one, Breckenridge Distillery has focused on crafting exceptional spirits while continuously evolving our portfolio for today's consumers. Expanding our partnership with Southern Glazer's in New York and California represents a major growth milestone for the brand and creates an incredible opportunity to bring our award-winning spirits and newest innovations to more consumers than ever before."

Mike Horan, executive vice-president of sales at Breckenridge Distillery, stated: "Southern Glazer's has been an outstanding partner for Breckenridge Distillery in Massachusetts, Rhode Island, Kansas and Missouri, and we're excited to build on that success in New York and California. These are two of the most influential and highest-growth markets in the country, and this expansion significantly strengthens our ability to scale distribution, grow brand awareness and accelerate our long-term growth trajectory across the U.S."

Through Southern Glazer's extensive route-to-market capabilities, strong chain and grocery relationships, and leading sales execution platform, Breckenridge Distillery is positioned to meaningfully scale its presence and capitalize on growing consumer demand in these high-volume markets.

About Breckenridge Distillery

Founded in Colorado in 2008, Breckenridge Distillery is the "world's highest distillery" and is best known for its award-winning blended bourbon whiskey, a high-rye mash American-style whiskey.

One of the most highly awarded distilleries in the United States, the Breckenridge Distillery is proudly a three-time Icons of Whisky and 10-time winner of Best American Blended winner at the World Whiskies Awards by Whisky Magazine, and a four-time winner of Colorado Distillery of the Year by the New York International Spirits Competition. Most recently, Breckenridge port cask finish was named World's Best Finished Bourbon at the 2024 World Whiskies Awards, joining Breckenridge high proof, named World's Best Blended Whiskey and Breckenridge gin, named World's Best Compound Gin at the World Gin Awards by Gin Magazine. Breckenridge spirits have been awarded six Double Golds at the San Francisco World Spirits Competition.

The Breckenridge Distillery is more than award-winning spirits, offering an immersive guest experience. Named as one of the country's Top Visitor Attractions by Whisky Magazine, guests can dine at its award-winning restaurant, enjoy show-stopping cocktails, learn about its highly awarded spirits with an in-depth tasting and get an inside look at its active production facility. New to the distillery, guests have the opportunity to blend their own whiskey as they learn the inner workings of whiskey production.

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