An anonymous director reports

CANOPY GROWTH REMINDS SHAREHOLDERS TO CAST THEIR VOTE FOR UPCOMING ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON SEPTEMBER 25, 2023 AT 1:00 P.M. (EASTERN TIME)

Canopy Growth Corp. reminds its shareholders to vote ahead of the upcoming annual general and special meeting of shareholders to be held on Sept. 25, 2023, at 1 p.m. Eastern Time. The board of directors of Canopy Growth unanimously recommends that the company's shareholders vote for all proposals and for each director nominee.

Shareholders of record as of the close of business on Aug. 3, 2023, and shareholders holding a legal proxy for the meeting are eligible to vote at the meeting. At the meeting, shareholders are being asked to approve: (i) the election of directors; (ii) the appointment of the auditor and independent registered public accounting firm for the fiscal year ending March 31, 2024, and to authorize the board to fix its remuneration; (iii) the adoption of the company's new equity incentive plan; (iv) authorization to amend the articles of the company to consolidate the company's issued and outstanding common shares; (v) an advisory, non-binding vote on the compensation of the company's named executive officers; and (vi) the issuance of shares pursuant to certain outstanding convertible debentures in an amount that is in excess of 19.99 per cent and 25 per cent, as applicable, of the number of shares outstanding on the date of issuance of such debentures in accordance with applicable stock exchange rules, each such proposal as further described in the company's proxy statement dated Aug. 8, 2023.

Greater details and rationale for each of the proposals can be found in the proxy statement filed under the company's EDGAR and SEDAR+ profiles, and can also be found on the company's website. Shareholders should read the proxy statement because it contains important information regarding the proposals.

Solicitation of proxies

Canopy Growth has engaged Laurel Hill Advisory Group to provide shareholder communication advisory and proxy solicitation services in connection with the solicitation of proxies from the company's shareholders for the meeting. The company has agreed to pay Laurel Hill an aggregate fee of $35,000 for these services and certain out-of-pocket expenses. If you have questions or need more information about the meeting, please contact Laurel Hill by telephone at 1-877-452-7184 toll-free in Canada or 416-304-0211 for international calls or by e-mail at assistance@laurelhill.com.

The company may use Broadridge Financial Solutions Inc.'s QuickVote service to assist beneficial Canopy Growth shareholders with voting. Laurel Hill may contact certain beneficial Canopy Growth shareholders who have not objected to the company knowing who they are (non-objecting beneficial owners or NOBOs) to conveniently obtain a vote directly over the telephone.

The meeting will take place via live audio webcast on Sept. 25, 2023, at 1 p.m. Eastern Time. Your vote is important; please vote today.

The proxy voting deadline is 1 p.m. Eastern Time on Sept. 21, 2023.

Your vote is important

Whether or not you plan to virtually attend the meeting, please vote as soon as possible by one of the methods described in the proxy materials to ensure that your shares are represented and voted at the meeting.

How to vote

Your vote is important regardless of the number of shares you own. Registered and beneficial shareholders may vote using the following methods.

Internet: Go to the Proxyvote website and enter the 16-digit control number printed on the form of proxy or voting instruction form, or scan the QR code on the form of proxy to access the website and follow the instructions on the screen.

Telephone: Call the toll-free telephone number provided on the form of proxy or voting instruction form and follow the prompted voting instructions. You will need to enter the 16-digit control number.

If you hold your shares through an intermediary, please follow the instructions on the voting instruction form provided by such intermediary to ensure that your vote is counted at the meeting.

Shareholder questions

If you have questions or need more information about the meeting, please contact Canopy Growth's proxy solicitation agent, Laurel Hill, by telephone at 1-877-452-7184 toll-free in Canada or 416-304-0211 for international calls, or by e-mail at assistance@laurelhill.com.

About Canopy Growth Corp.

Canopy Growth is a leading North American cannabis and consumer packaged goods (CPG) company dedicated to unleashing the power of cannabis to improve lives.

Through an unwavering commitment to its consumers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7Acres, Tweed and Deep Space. Canopy Growth's CPG portfolio features sugar-free sports hydration brand BioSteel, targeted 24-hour skincare and wellness solutions from This Works, gourmet wellness products by Martha Stewart CBD, and category-defining vaporizer technology made in Germany by Storz & Bickel.

Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the United States THC (tetrahydrocannabinol) market through its rights to Acreage Holdings Inc., a vertically integrated multistate cannabis operator with principal operations in densely populated states across the northeast, as well as Wana Brands, a leading cannabis edible brand in North America, and Jetty Extracts, a California-based producer of high-quality cannabis extracts and pioneer of clean vape technology.

Beyond its world-class products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use and community reinvestment, pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater well-being and life enhancement.