Mr. Irwin Simon reports

TILRAY BRANDS COMPLETES ACQUISITION OF CRAFT BEER BRANDS AND BREWERIES FROM MOLSON COORS BEVERAGE COMPANY

Tilray Brands Inc. has successfully completed the previously announced acquisition of craft breweries Hop Valley Brewing Company, Terrapin Beer Co. and Revolver Brewing from Molson Coors Beverage Company.

Irwin D. Simon, chairman and chief executive officer of Tilray Brands, said: "Tilray Brands is crafting a new future for brands in the craft beer industry. We are proud to welcome these exceptional brands and the talented teams behind them to Tilray. With our proven track record of creating brand growth, we are confident in our ability to drive revenue, generate cost synergies and expand distribution, further strengthening these brands and solidifying Tilray's position as a leader in the craft beverage industry. This strategic acquisition creates additional growth opportunities for our global beverage business, which reinforces our commitment to enhancing shareholder value. At Tilray Brands, we are constantly pushing the boundaries to bring new and better experiences to our consumers. Our plan is to drive growth and maximize the potential of these brands to their fullest capacity, while maintaining our dedication to delivering high-quality products and meeting the evolving needs of our consumers."

This acquisition further strengthens Tilray's leadership position in the United States craft beer market as the fifth-largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia. It also anchors Tilray in Texas, the second-largest beer consumption state, and expands Tilray's craft beer portfolio across key beer markets, adding 30-per-cent new beer buying accounts. Tilray Brands' impressive beverage portfolio now includes some of the leading craft beer, spirits and non-alcohol beverage brands such as SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy, Happy Flower CBD, along with Canada's top recreational cannabis and THC beverage brands, Mollo and XMG.

Advisers

TD Securities acted as financial adviser, and DLA Piper LLP (U.S.) acted as external legal counsel to Tilray Brands.

About Tilray Brands Inc.

Tilray Brands is a leading global lifestyle and consumer packaged goods company (with operations in Canada, the United States, Europe, Australia and Latin America) that is leading as a transformative force at the nexus of cannabis, beverage, wellness and entertainment, elevating lives through moments of connection. Tilray's mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray's unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods and craft beverages.

We seek Safe Harbor.