Mr. Tyler Burns reports

CANOPY GROWTH STRENGTHENS BALANCE SHEET WITH EARLY US$25 MILLION TERM LOAN PREPAYMENT

Canopy Growth Corp. today completed an early prepayment of $25-million (U.S.) against the company's senior secured term loan.

The company previously entered into an agreement with certain of its lenders, which the company announced on July 29, 2025. Under the terms of the agreement, Canopy Growth agreed to make the following prepayments under the term loan: (i) $25-million (U.S.) at par on or about July 31, 2025; (ii) $10-million (U.S.) at par on or prior to Dec. 31, 2025; and (iii) $15-million (U.S.) at par on or prior to March 31, 2026.

The company made the first of three prepayments in the amount of $25-million (U.S.) on July 31, 2025. The current prepayment, which the company has elected to make early, satisfies the remainder of the company's obligations set forth in the agreement.

"Having accelerated the full $50-million (U.S.) prepayments of our term loan under the agreement, the company has captured $4.0-million (U.S.) of cash interest savings for fiscal 2026. By reducing debt and interest expense, we continue to take prudent steps that strengthen the company's financial position," said Tom Stewart, interim chief financial officer.

About Canopy Growth Corp.

Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.

Through an unwavering commitment to consumers, Canopy Growth delivers innovative products from owned and licensed brands including Tweed, 7Acres, DOJA, Deep Space and Claybourne, as well as category defining vaporization devices by Storz & Bickel. In addition, Canopy Growth serves medical cannabis patients globally with principal operations in Canada, Europe and Australia.

Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the United States THC market through an unconsolidated, non-controlling interest in Canopy USA LLC. Canopy USA's portfolio includes ownership of Acreage Holdings Inc., a vertically integrated multistate cannabis operator with operations throughout the U.S. Northeast and Midwest, as well as ownership of Wana Wellness LLC, The Cima Group LLC and Mountain High Products LLC, a leading North American edibles brand, and majority ownership of Lemurian Inc., a California-based producer of high-quality cannabis extracts and clean vape technology.

At Canopy Growth, the company is shaping a future where cannabis is embraced for its potential to enhance well-being and improve lives. With high-quality products, a commitment to responsible use and a focus on enhancing the communities where the company lives and works, Canopy is paving the way for a better understanding of all that cannabis can offer.

We seek Safe Harbor.