Mr. Blair MacNeil reports

TILRAY BRANDS MARKS SEVEN YEARS OF CANNABIS LEGALIZATION IN CANADA WITH THE #1 MARKET-LEADING POSITION BY REVENUE AND PIONEERING BRANDS WITH GROWING MARKET SHARE IN THE WORLD'S LARGEST FEDERALLY LEGAL CANNABIS MARKET

Tilray Brands Inc. is proudly celebrating the seventh anniversary of cannabis legalization in Canada. As the largest federally legal cannabis market in the world, Canada's progressive regulatory framework has fostered innovation and created vast economic opportunities for Canadian businesses and communities and set the global benchmark for responsible cannabis legalization and industry development.

Blair MacNeil, president of Tilray Canada, stated: "Seven years ago, Canada made history by becoming the first G7 country to legalize cannabis nationwide, a bold step that has set a global benchmark. I am deeply honoured that Tilray played a pivotal role in this transformative journey, championing responsible growth while supporting Canadian innovation and leadership. This milestone is a celebration of our dedicated team, our unwavering commitment to excellence, and, above all, the trust and support of Canadian consumers, who have made this industry a source of national pride."

Following Canada's legalization of cannabis on Oct. 17, 2018, Tilray Brands' licensed producers -- including Aphria, Broken Coast, Hexo, Redecan and a portfolio of other market-leading brands -- have consistently led at the forefront of the country's cannabis industry, setting benchmarks for quality, safety, scale and innovation. Tilray's economic footprint extends nationwide, generating thousands of jobs through its sales, marketing, cultivation and manufacturing operations. The company has invested over $1-billion in Canadian infrastructure, paid approximately $700-million in excise taxes, and contributed hundreds of millions in harmonized, goods and services, and provincial sales tax. These substantial investments have helped legitimize the cannabis industry, advancing the goal of eliminating the illicit market, and ensuring patient and consumer safety by providing quality-controlled, rigorously tested products. Importantly, Tilray has also helped change people's lives by providing safe, thoroughly tested medical cannabis to patients in need, supporting their health and well-being while expanding access to effective treatment options. Additionally, Tilray actively supports local economies through supplier partnerships, service contracts, charitable contributions and sustainable business practices, reinforcing its commitment to responsible corporate citizenship, environmental stewardship and community development.

Tilray's brand-building excellence is evidenced by the 15 leading cannabis1 brands it owns and operates in Canada, with several brands valued at $100-million to $300-million each at retail. By pioneering new product innovations, such as THC/CBD-infused beverages, shareable edibles and premium craft flower, Tilray is expanding consumer choice and setting industry standards for quality. The company is recognized for spearheading the adoption of greenhouse cannabis cultivation in Canada, leveraging advanced agronomic techniques to produce high-quality products at scale, while maintaining one of the industry's lowest-cost structures.

In Q1 fiscal 2026, the most recent financial quarter reported, Tilray's Canadian Cannabis business delivered strong results, reinforcing its position as Canada's largest legal cannabis company by revenue. In the adult-use channel, Tilray continued to increase market share and achieved the strongest quarter-over-quarter growth among the top five Canadian cannabis producers. Tilray holds the No. 1 leading sales position in prerolls, beverages, oils and chocolate edibles, and by the end of the quarter, the company also became No. 1 in flower, while maintaining top 10 positions across all other categories.

Tilray has maintained its lead in THC beverages, with its XMG and Mollo brands holding over 40-per-cent market share4 through innovative offerings like new flavours, zero-sugar options and balanced THC/CBD seltzers. Edibles brand, Chowie Wowie, continues to set the standard in edibles with fun, consistent and shareable chocolates, while Good Supply, Broken Coast and Redecan remain consumer favourites for cannabis flower and prerolls.

While significant strides have been made, there is still important work to be done to further advance and refine regulations in Canada, ensuring the continued growth and success of the industry.

As regulatory reforms continue to evolve, the company hopes to see future growth driven by:

• Expanding cannabis in health care -- unlocking new opportunities through proposed cannabis health products and broader insurance coverage, making medical cannabis more accessible to patients;
• On-premise consumption of THC beverages -- thoughtful rollout of on-site consumption to drive responsible use and create a vibrant, experiential cannabis beverage market;
• Regulatory modernization -- improving policies that restrict competitiveness, paving the way for innovation and growth in Canada's cannabis industry.

Looking ahead, Tilray's diversified platform is strategically positioned to capitalize on future industry growth, leveraging its unparalleled scale in Canada, with five million square feet of advanced cannabis cultivation facilities and current production of 210 metric tons, along with significant expansion capacity to swiftly respond to rising demand. This robust infrastructure ensures Tilray can adapt rapidly to evolving market dynamics and consumer preferences. Furthermore, as regulatory landscapes in Europe and the United States evolve, Tilray is exceptionally well equipped to seize new opportunities and establish a leading presence in these burgeoning markets, reinforcing its status as a global cannabis industry leader.

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.