Ms. Denise Faltischek reports

TILRAY RECEIVES FIRST NEW CANNABIS CULTIVATION LICENSE IN GERMANY UNDER NEW REGULATIONS

Tilray Brands Inc.'s Germany cannabis cultivation facility, Aphria RX GmbH, has received the first new cannabis cultivation licence issued under MedCanG, Germany's new cannabis act. The new cannabis cultivation licence allows Aphria RX to cultivate and manufacture a broad commercial range of medical cannabis, providing patients with better access to high-quality medical cannabis produced in Germany.

Tilray's chief strategy officer and head of international, Denise Faltischek, commented: "We are thrilled to receive this licence as it will provide greater access to some of the highest-quality medical cannabis produced in Germany and enable us to expand the range of treatment options available to patients. We appreciate the trust that the German government has placed in Tilray, and we are proud of our team for their groundbreaking work in medical cannabis cultivation and patient care."

In May, 2019, Aphria RX was awarded the most comprehensive licence for the cultivation of medical cannabis in Germany from the German Federal Institute for Drugs and Medical Devices (the BfArM), having been awarded a total of five lots (1,000 kilograms) and was the only licensed producer in Germany with permission to grow all three strains of medical cannabis approved by the BfArM.

The introduction of the MedCanG bill in Germany has led to a significant increase in the number of patients and prescribers for medicinal cannabis. With the new cannabis licence, Tilray is well positioned to take full advantage of the market opportunity. Additionally, Aphria RX can now fully utilize and maximize its growing capacity while also expanding its genetics to a total of 31 approved strains from the previously approved three strains. Originally designed with guidance from Kevin Anderson, the renowned cannabis grower of Broken Coast, Aphria RX can now replicate the growing conditions at Broken Coast, maximizing Aphria RX's potential as a premium craft grower.

As a leader in the field of medical cannabis research and production, Tilray strongly believes that these developments will have a positive impact on the health and well-being of many patients in Germany. The company looks forward to exploring the path opened by the German government and all stakeholders in promoting improved access to medical cannabis and the opportunity to optimize care for its patients.

About Tilray Medical

Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios and Navcora. Tilray Medical grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified (good manufacturing practice) cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers and governments in over 20 countries and across five continents.

About Tilray Brands Inc.

Tilray Brands is a leading global cannabis lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia and Latin America that is changing people's lives for the better -- one person at a time -- by inspiring and empowering a worldwide community to live its very best life, enhanced by moments of connection and well-being. Tilray's mission is to be the most responsible, trusted and market-leading cannabis consumer product company in the world with a portfolio of innovative, high-quality and beloved brands that address the needs of the consumers, customers and patients the company serves. A pioneer in cannabis research, cultivation and distribution, Tilray's unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods and craft beverages.

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