An anonymous director reports

TILRAY SUCCESSFULLY PREVAILS WITH DISMISSAL OF HEXO SHAREHOLDER LAWSUIT

Tilray Brands Inc. and its subsidiary Hexo Corp. have noted the successful dismissal of the Clement Italume versus Robinhood Markets Inc., Robinhood Financial LLC, Hexo and Tilray lawsuit as against them. Specifically, the Massachusetts Superior Court, Suffolk County, granted Tilray's and Hexo's summary judgment motion in full, dismissing Mr. Italume's (plaintiff) claims. The court previously ruled that the plaintiff's claims against the Robinhood defendants are subject to arbitration.

The plaintiff sought damages totalling approximately $8-million, alleging that Hexo and Tilray failed to properly disclose and notify shareholders of Hexo's corporate actions in December, 2022, and Tilray's acquisition of Hexo in June, 2023. The plaintiff alleged that this lack of notice caused financial loss to shareholders. The plaintiff further alleged that Hexo manufactured the reverse stock split to delete or otherwise wrongfully convert his Hexo shares.

In its order, the court rejected plaintiff's allegations, finding that the plaintiff cited no sufficient evidence that the identified corporate actions caused financial loss or that Hexo and Tilray failed to properly notify shareholders of Tilray's acquisition. The court further held that the plaintiff was unable to establish credible damages arising from his claims. It is uncertain if plaintiff will appeal the ruling of the Massachusetts Superior Court.

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.