TILRAY BRANDS EXPANDS CANNABIS BEVERAGE PORTFOLIO WITH NEW THC, CBG and CBD DRINK INNOVATIONS BY TOP-PERFORMING CANADIAN BRANDS

 XMG Cannabis Brand Launches New Flavour Packed Drinks from its XMG+ Line 

Mollo Brand Releases New Cannabis Craft Brews  

Tilray Holds Strong Market Share Position in Recreational Cannabis Beverages in Canada

TORONTO, ONTARIO – November 15, 2023 – Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis and consumer packaged goods company, today announced a bold new range of cannabis-infused beverages from its renowned brands XMG and Mollo. Recognized for their diverse flavours and innovative cannabinoid profiles, including THC, CBG, and CBD, these brands are reshaping the cannabis beverage market with unparalleled variety and quality.

Blair MacNeil, President, Tilray Canada, said, “Tilray’s commitment to innovation and consumer satisfaction is exemplified by our expansive beverage offerings from XMG and Mollo. With the success of recent introductions from other Tilray brands such as Solei and RIFF, we have firmly positioned ourselves as leaders in the cannabis beverage market. Both XMG and Mollo have consistently been top choices for Canadian consumers, and these new releases, highlighting unique cannabinoid combinations and premium formulations, underscore our dedication to providing diverse and quality brand experiences.” 

XMG

XMG has been the #1 brand in cannabis-infused beverages with the largest product line available in Canada[1], including their XMG Plus (XMG+) lineup featuring nostalgic taste profiles, serving as a top trusted brand in the beverage space with flavours consumers know and love. From its collection, 3 best-selling flavours currently rank in Canada’s top 5, with more new flavours to come down the line.

XMG’s latest innovations from its XMG Plus line, include:

• XMG+ Tropical Cream Float: Crafted with full body flavours, XMG brings sunshine in a can with this new tropical twist on a classic cream soda, with subtle notes of fruit explosions accompanied by a sweetly balanced hit of 10mg THC + 10mg CBG & guarana extract.

• XMG+ Citrus Peaks: Add some zest to your session and experience the jolt of the fresh citrus blast with every sip, along with 10mg THC + 10mg CBG & guarana extract.

• XMG+ Paradise Treat: For those that daydream of being on airplane mode while hanging out in the sun; A nostalgic bubbly blast of fruit punch with 10 mg THC + 10mg CBG & guarana extract.

• XMG+ Lemon Iced Tea: Refreshing and non-carbonated, this one’s for the fans who love the classic taste of a classic Lemon Iced Tea, but with a well-balanced sweetness factor, featuring 10 mg THC + 10mg CBG & guarana extract.

Mollo

Mollo is one of the only brands in the cannabis-infused beverage space offering mass-appealing, sessionable cannabis craft brews in Canada, and remains unique and differentiated with its flavours and cannabinoid variations; offering non-alcoholic brews that are light and easy-drinking, Mollo is for those looking for an alternative way to consume cannabis, while enjoying the refreshing taste that’s reminiscent of classic Canadian beers, and seasonal ciders. Crafted by master brewers with more than 65 combined years of brewing experience, Mollo’s products are available for different year-round consumer occasions. As of this year, its shares have doubled since January, and the brand is currently in the top 10 of Canada’s best-selling cannabis infused beverages along with XMG[2].

Mollo’s latest release made with natural flavour, includes:

• Mollo Orchard Chill’r: Perfect for the Fall and Winter season, this new infused drink is a semi-sweet, crisp, and refreshing apple cider-inspired beverage providing the ultimate ‘chill’, with 10mg THC and 10mg CBG, best served in a chilled glass over ice.

Additional original consumer favourite brews available:

• Mollo 5: A crisp, easy-drinking non-alcoholic lager, this brew is a Mollo original, best served poured into a chilled glass and sipped slowly, featuring a medium 1:1 ratio of 5mg of nano-infused THC and 5mg CBD.

• Mollo 5 Lime: There’s nothing like a smooth, crisp, and lightly hopped non-alcoholic Mollo lager with refreshing lime flavour; best enjoyed in a chilled glass with a lime wedge at 5mg THC and 5mg CBD.

• Mollo 10: This first-of-its-kind cannabis craft brew[3] was one of the first drinks to hit the ground running for Mollo; it’s double-brewed for a well-balanced taste with 10mg THC + 10mg CBG, serving up a classic clean and crisp non-alcoholic lager profile best served in a chilled glass.

Following the success of Mollo’s original lineup, Mollo’s introduction of its Mollo 10 and Orchard Chill’r, lends a sneak preview of what’s to come for the brand, including the launch of a fresh new lineup of light and thirst-quenching on-the-go beverages perfect for the warmer spring and summer months, including a burst of fruit-forward tropical flavours such as Lemon, Mango, and Pineapple, along with Mollo 10 Lime, and an Orchard Chill’r Mixed Berry refresher.

XMG and Mollo continue to dominate the ready-to-drink cannabis beverage space with their new releases; The introduction of XMG’s additions to the XMG+ line and Mollo’s new non-alcoholic cannabis brews lights up the way for the upcoming line of products to come in the new year, with even more new formats and flavours for consumers to choose from. To keep up with the latest launches from XMG and Mollo, follow @findyourXMG and @mollo_out on social.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with four distinct and complementary business segments including medical and adult-use cannabis, medical distribution, wellness foods, and beverage-alcohol. Tilray Brands is on a mission to change people’s lives for the better – one person at a time - by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, today Tilray Brands’ unprecedented and diversified production platform supports a portfolio of best-in-class brands in over 20 countries including comprehensive adult-use and medical cannabis offerings, hemp-based foods, and craft beverages across North America, Europe, Australia, and Latin America.

For more information on Tilray Brands, visit Tilray Brands, Inc. and follow @Tilray on Instagram, Twitter, Facebook, and LinkedIn.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

Contacts:
Media:
Kaitlin Macapagal
news@tilray.com

Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com

[1] Based on National Retail Retail Sales Data from Hifyre – January 1, 2023 – October 31, 2023; Year to Date

2 Based on National Retail Retail Sales Data from Hifyre – January 1, 2023 – October 31, 2023; Year to Date

[3] Tilray Brands Competitive Brand Analysis October 2023

GOOD SUPPLY™ CANNABIS LAUNCHES 'GET BLITZEN’D' HOLIDAY CAMPAIGN AND NEW LIMITED-EDITION PRODUCTS ACROSS CANADA

Ignite this Year’s Holiday Festivities with Good Supply’s ‘Holiday Helper’ 36 Pre-Roll Mix Pack and ‘The Grump’ MONSTERS 1000mg Infused Pre-rolls  

TORONTO, ONTARIO – November 9th, 2023 – Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that its best-selling Canadian cannabis brand, Good Supply™, just unveiled a new seasonal campaign, ‘Get Blitzen’d’. Amplifying the festive cheer, Good Supply introduces its first-ever limited-edition 'Holiday Helpers' 36-pack of pre-rolls and 'The Grump' - a special holiday offering of the acclaimed MONSTERS™ 1,000mg infused pre-roll.

Good Supply’s ‘Holiday Helpers’ Pre-roll Mix pack:

In the spirit of the ‘12 Days of Jointmas’, Good Supply launches its new ‘Holiday Helpers’ pre-roll mix pack (36 x 0.35g). This carefully curated selection offers 12 pre-rolls of each of Good Supply’s best-selling sativa, hybrid, and indica blends (36 x 0.35g) – including Jean Guy, Lava Fuel, and Wedding Cake, providing a trio of high-quality options daily for connoisseurs seeking diverse experiences throughout the holiday season.

Good Supply’s ‘The Grump’ MONSTERS:

Building on the success of the original 'MONSTERS' launch, Good Supply introduces 'The Grump', a 2.38g infused pre-roll, evoking the essence of holiday storytelling. Each pre-roll contains the most THC allowed in one package, at 1,000mg of THC [1]. It features Monkey Glue milled flower infused with Sweet Berry Kush BHO (Monkey Glue x Sweet Berry Kush), perfectly rolled and coated in extract, followed by kief.

Good Supply infuses the festive spirit into its 'Get Blitzen'd' holiday campaign with the release of the 'Holiday Helpers' pre-roll mix pack and 'The Grump' pre-rolls. Both are hitting shelves nationwide, with 'Holiday Helpers' available in Ontario and Alberta, while 'The Grump' will be available in Ontario, Alberta, British Columbia, Nova Scotia, Saskatchewan, Manitoba, and Newfoundland and Labrador.

To add Good Supply’s limited-time releases to your wish list this festive season and to keep up with the brand’s latest launches, visit www.goodsupplycannabis.com and follow @goodsupplycannabis.

About Good Supply

Good Supply is one of Canada's leading cannabis brands and been recognized as #1 in flower, and best-selling pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders. At Good Supply, good is the new great. Rooted in classic strains that punch above their weight, Good Supply delivers consistent, hard-hitting quality at affordable prices. Explore classic strains, innovative formats, and new flavours – we’re always up for a good time. The Good Supply™ brand is produced in accordance with a Health Canada cannabis processing and cultivation license held by Aphria Inc., a subsidiary of Tilray Brands, Inc.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY and TSX: TLRY) 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 the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. 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 alcoholic beverages.

For more information on Tilray, visit Tilray Brands, Inc. and follow @tilray on Instagram, Twitter, Facebook, and LinkedIn.

__________

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Contacts:

Media:

Kaitlin Macapagal

news@tilray.com

Investors

Raphael Gross

203-682-8253

Raphael.Gross@icrinc.com

[1] “The most THC allowed in one package” – Health Canada, proposed regulations for additional cannabis products available at: Proposed regulations for additional cannabis products - Canada.ca

Celebrating Five Years of Growth: Tilray Brands Reflects on Industry Leadership in Canadian Cannabis and Looks Forward to its Future

TORONTO, Oct. 19, 2023 -- Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, is celebrating five years of remarkable growth and industry leadership in the Canadian cannabis market since legalization. Over the past half-decade, Tilray has emerged as the most robust and leading international cannabis Licensed Producer (LP) in Canada with a cannabis market share of approximately 13.4%, inclusive of recent strategic acquisitions of HEXO Corp. and Truss Beverage Co.

Irwin D. Simon, Chairman and CEO, Tilray Brands, Inc. said, "In the span of five years, we have come a long way and despite the many challenges we and our industry have faced, I am proud of what we have created and accomplished across our Canadian cannabis businesses including Aphria, HEXO, Truss Beverages, and Tilray Brands. Over the next five years, we look forward to working with the Canadian government to help strengthen our industry as we have plenty of learnings to capitalize on as we write the next chapter and evolution of Canadian cannabis.”

Mr. Simon continued, “In Canada, we are building the model of a safe and responsible high growth industry that other countries can learn from and emulate as cannabis legalization continues to proliferate across the globe. Tilray Brands is committed to leading the global cannabis industry in quality, innovation, brands, and consumer insight while building long-term shareholder value.”

Reflecting on the journey, Blair MacNeil, President, Tilray Canada, added, “From the outset, our mission has been deeply understanding our consumers and ensuring we develop brands and products that resonate with both the adult-use and medical markets. This consumer-centric approach has been the cornerstone of our innovation and success, guiding every decision we make and driving our continuous growth. Tilray’s strength in Canada spans across categories; we are ranked #1 in sales for cannabis Flower, Oils, Concentrates, and THC beverages, #2 in Pre-Rolls, #4 in Vape, and among the top 10 in all other major categories. We have grown our Canadian cannabis revenue by 16.5% this past quarter alone and maintained our #1 position in leading cannabis market share.”

Significant milestones marking Tilray's five-year leadership in the Canadian cannabis industry include the acquisition of Broken Coast in 2018; the monumental business combination of Tilray and Aphria in 2021, creating the Tilray Brands—a global cannabis and CPG leader, as well as the growth and expansion of Tilray’s medical cannabis portfolio encompassing four unique medical brands: Broken Coast, Aphria Medical, Tilray, and Symbios; and the transformative acquisition of HEXO Corp. and acquisition of Truss Beverage Co. earlier this year, further solidifying the Company’s market dominance.

Tilray Brands’ comprehensive Canadian cannabis portfolio includes:

• Good Supply:

  • Good Supply is one of Canada's leading cannabis brands and has been recognized as #1 in flower, and best-selling pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders.

• Redecan:

  • Redecan is a Canadian cannabis company with over 30 years in agriculture. Redecan’s tools are fresh water and sunshine, farming the way it has been done for hundreds of years.

• Broken Coast:

  • Broken Coast is a heritage cannabis brand widely recognized for setting the standard for craft cannabis in Canada.

• Canaca:

  • CANACA is a proudly Canadian brand that indulges your unapologetic love for Canada and cannabis. We are all about elevated adventures and expanding your horizons.

• Chowie Wowie:

  • Chowie Wowie is a cannabis edible brand that believes edibles should be fun, safe, tasty, and consistent. And most important of all, enjoyed with friends.

• RIFF:

  • RIFF was born out of the love for a good joint effort. Committed to providing quality cannabis products and encouraging creativity, RIFF has been widely recognized in the Canadian landscape as a brand that has always supported creative explorers and connoisseurs, serving as a leader in curating and contributing to local events and artist showcases that reflect the RIFF lifestyle.

• Solei:

  • Solei is a leading cannabis wellness and lifestyle brand with thoughtfully designed products for curating sensorial experiences based on what you need, when you need it, entirely on your terms.

• Original Stash:

  • Original Stash is straightforward and uncomplicated. That’s the way your stash should be. Grown in a controlled environment, Original Stash is a blend of high-quality weed sold for a lot less than you’d expect.

• Hexo:

  • HEXO flower is sun grown in hybrid greenhouses and is methodically trimmed, dried and cured at HEXO’s flagship facility. Our commitment to quality shines with this flower product, grown and packaged in a highly controlled environment for a consistent and superior consumer experience.

• XMG:

  • XMG is one of Canad’s winning cannabis beverage brands offering a range of bold drink flavours for the avid consumer.

• Mollo:

  • Mollo offers a collection of cannabis infused beverages that embrace clean, crisp, non-alcoholic flavours reminiscent of popular lager profiles, and is best known in Canada for its first-of-its-kind balanced offering of 10mg THC and 10mg CBG.

• Bake Sale:

  • Bake Sale All Purpose Flower is a blended product that offers high-quality buds with pungent terpene aromas, approachable THC levels, and a variety of options for consumption.

• The Batch:

  • The Batch believes in keeping cannabis simple and good, serving customers consistently reliable product, with at affordable prices.

• Tilray Medical:

  • Tilray is the global leader in the advancement of cannabinoid-based medicine, with a keen focus on providing research-backed medical cannabis products to physicians, pharmacies, and patients, around the world.

• Aphria Medical:

  • Aphria is a Licensed Producer of medical cannabis products. We are truly powered by sunlight; our quality medical cannabis is 100% greenhouse-grown, allowing for the most natural conditions for quality products.

• Symbios:

  • Symbios was designed with quality, care, and affordability in mind, to help support patients on their medical and wellness journey.

• Dubon:

  • A vibrantly Québécois cannabis brand and champion of inspired, creative living. Dubon offers master-crafted cannabis strains as whole flower and pre-rolls, exclusively available through the Société québécoise du cannabis in Québec (SQDC).

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with four distinct and complementary business segments including medical and adult-use cannabis, medical distribution, wellness foods, and beverage-alcohol. Tilray Brands is on a mission to change people’s lives for the better – one person at a time - by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, today Tilray Brands’ unprecedented and diversified production platform supports a portfolio of best-in-class brands in over 20 countries including comprehensive adult-use and medical cannabis offerings, hemp-based foods, and craft beverages across North America, Europe, Australia, and Latin America.

For more information on Tilray Brands, visit Tilray Brands, Inc. and follow @Tilray on Instagram, Twitter, Facebook, and LinkedIn.

__________

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

Contacts:
Media:
Jaydon Case
news@tilray.com

Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com

Good Supply, Tilray’s Best-Selling Cannabis Brand, Launches New Sustainability Campaign, ‘Green You Can Feel Good About’, and Debuts New Hemp Packaging

TORONTO, ONTARIO – October 17, 2023 – Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced a new sustainability campaign and hemp packaging transition across its best-selling Canadian cannabis brand Good Supply®[1]. Taking the lead as the first brand in Tilray’s cannabis portfolio to fully transition to environmentally friendly materials, the team has overhauled the brand’s packaging and componentry of all whole flower bags, pre-rolls, and vape tubes, along with vape mouthpieces, to minimize the amount of single-use plastics used.

The Canadian cannabis industry has faced ongoing challenges in embracing eco-friendly choices when it comes to product packaging. Recognizing the transformative shift toward more sustainable packaging practices, this changeover is not only good for the planet, but for the business; Tilray’s research suggests that consumers are 50% more likely to purchase a cannabis product that came in sustainable packaging versus one that doesn’t[2]. Listening to consumers’ feedback and concerns, the mission around sustainability meets the needs of more eco-conscious, and frequent cannabis consumers, sharing active awareness of increased waste production in the industry.

Good Supply® is rolling out new sustainable hemp packaging for pre-rolls, vapes, and flower:

• Pre-rolls and 1g Pax Pods Cartridges: For their pre-rolls and 1g Pax Pods offerings, Good Supply® has produced new eco-friendly hemp tubes for easy transport and consumer convenience.

• 510 Vape Cartridges: Good Supply® is bringing consumers sleek new hemp composite mouthpieces for its best-selling collection of 510 vape cartridges.

• Whole Flower: Moving away from traditional plastic bags for whole flower, Good Supply® moves into bags made from recycled content, diverting over 38,000kg of plastic waste yearly.

Good Supply® new hemp tubes and vape mouthpieces are green in more ways than one – they’re biodegradable, so at the end of their lifecycle, they can be composted in organic processing or landfill facilities.

With this new sustainable hemp packaging program, Tilray is able to divert +131,000kg of plastic from landfills each year[3]. In partnership with PrintReleaf™,Tilray has also reforested 2000+ trees (as of August 2023 and counting) from label usage, to offset +150,000lbs worth of paper consumption.

Good Supply® embraces the mindset of ‘Green You Can Feel Good About’, re-enforcing the notion that consumers can feel good about every aspect of their cannabis purchase, from the product to the packaging that comes with it. Join their sustainability journey as they produce quality cannabis products made with environmentally conscious materials that consumers and the planet deserve.

Later this year, Tilray will continue to roll out new sustainable hemp packaging for its brands across Canada including RIFF® and Broken Coast®, emphasizing its sustainability efforts towards shaping a greener future for the cannabis industry.

About Good Supply

Good Supply is one of Canada's leading cannabis brands and has been recognized as #1 in flower, and best-selling pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders. At Good Supply, good is the new great. Rooted in classic strains that punch above their weight, Good Supply delivers consistent, hard-hitting quality at affordable prices. Explore classic strains, innovative formats, and new flavours – we’re always up for a good time.

To learn more about Good Supply, visit www.goodsupplycannabis.com and follow @goodsupplycannabis.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with four distinct and complementary business segments including medical and adult-use cannabis, medical distribution, wellness foods, and beverage-alcohol. Tilray Brands is on a mission to change people’s lives for the better – one person at a time - by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, today Tilray Brands’ unprecedented and diversified production platform supports a portfolio of best-in-class brands in over 20 countries including comprehensive adult-use and medical cannabis offerings, hemp-based foods, and craft beverages across North America, Europe, Australia, and Latin America.

For more information on Tilray Brands, visit Tilray Brands, Inc. and follow @Tilray on Instagram, Twitter, Facebook, and LinkedIn.

__________

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide and achieve listed sustainability forecasts. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

Contacts:

Media:

Kaitlin Macapagal

news@tilray.com

Investors

Raphael Gross

203-682-8253

Raphael.Gross@icrinc.com

[1] Produced in accordance with Health Canada Processing and Cultivation licence by Aphria Inc., a subsidiary of Tilray Brands, Inc.

[2] Source: Based on primary research conducted with Suzy Insights providing custom quantitative consumer research, surveying 200 cannabis past-6 month consumers and non-rejectors of vapes, national Canadian representation (excl. Quebec); October 2022.

[3] Disclaimer: This numeric value towards plastic diversion is based on annual Good Supply sales volumes as of June 2023.

Tilray Medical Supports New Clinical Trial to Study Medical Cannabis in Glioblastoma Cancer Treatment

CANTANHEDE, PORTUGAL– October 16, 2023 – Tilray Medical, a division of Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY) and a global leader in medical cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, transforming healthcare, today announced their contribution to an independent clinical trial to research the efficacy of medical cannabis as a treatment for glioblastoma, a severe form of brain cancer. The clinical trial will be conducted in Spain, recruiting 30 patients from eight specialized neuro-oncology medical sites, in partnership with renowned scientists from the Spanish Research Group of Neuro-Oncology (GEINO) and the Complutense University of Madrid, with Tilray Medical providing the pharmaceutical-grade medical cannabis for the trial (THC/CBD 1:1) for administration to patients.. The trial is funded by the Medical Cannabis Bike Tour Foundation charity and is scheduled to commence at University Hospital 12 de Octubre, on September 5, 2023.  

Denise Faltischek, Tilray’s Chief Strategy Officer and Head of International Business, stated, "This groundbreaking trial is more than an opportunity for Tilray to engage in medical research; it's a beacon of hope for patients suffering from Glioblastoma. Our role in this initiative exemplifies our commitment to medical research, leading us one step closer to unlocking the full therapeutic potential of medical cannabis."

Led by esteemed coordinating investigator Dr. Juan Manuel Sepúlveda Sánchez from GEINO, the clinical trial is a Phase I, open-label, multicenter, intrapatient dose-escalation to evaluate the safety and profile of Tilray Medical’s T10:C10 (THC+CBD) extract, in conjunction with temozolomide and radiotherapy for newly-diagnosed Glioblastoma patients.

While medical cannabis research has been an ongoing mission towards patient treatment, this trial is unique because it is the culmination of a 10-year civil society collaboration between the scientific sector and the medical cannabis community. According to Dr. Juan Sepulveda, “Biological evidence has been accumulating for more than 15 years that cannabinoids have anti-tumor activity in the most aggressive brain tumors, glioblastomas. However, no clinical trials have been conducted to prove this hypothesis in patients. With this clinical trial, we can finally study the effect of cannabinoids on tumors that have not received active treatment. With this trial, we are helping to give our patients a new option, but also to open a therapeutic avenue. The trial is the result of a collaboration between civil society through the Medical Cannabis Bike Tour, an emerging pharmaceutical company and clinical scientists.”  
In 2013, the Medical Cannabis Bike Tour began raising funds to support the work of the Complutense Madrid University team. Guided by Dr. Manuel Guzmán and Dr. Guillermo Velasco, the team at Cannabinoid Signalling Group was researching the effects of cannabinoids on cancer cells and the potential as a glioblastoma treatment. Today, with proceeds from the Medical Cannabis Bike Tour founded by Luc Krol from the Netherlands-based cannabis genetics seed bank, Paradise Seeds, the Medical Bike Tour Foundation mobilized the European cannabis community. It attracted significant sponsorship from the industry over the course of five events held in different European countries who were advocates for the impact of medical cannabis and its benefits. As a result, Luc Krol passionately adds, “The world was very different when we began the Medical Cannabis Bike Tour 10 years ago. We believed in the outstanding work of doctors including Dr. Guzman and Velasco and their team and asked the cannabis community for their support. The fact that the Medical Cannabis Bike Tour can now independently fund a clinical trial in the name of science, is amazing thanks to the sponsors and riders who made it happen. We hope this trial will reflect the hope illuminated by the scientific research for the participants involved.” 

Tilray Medical’s mission is to continue transforming lives and fostering dignity for patients in need through access to medical cannabis, and today is a leading provider of EU-GMP certified medical cannabis products in 20 countries with a comprehensive portfolio of THC and CBD products. Tilray has supported medical trials globally, across Europe, Canada, the United States, Australia, and Latin America, studying the efficacy of medical cannabis as a treatment for indications including pediatric epilepsy, refractory pediatric epilepsy, cancer-induced nausea and vomiting, HIV, essential tremor, breast cancer disorders, post-traumatic stress disorder, and alcohol use disorders.

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 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 cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.

For more information on Tilray Medical, visit Tilray Medical Europe,  Tilray Medical Canada, and Tilray Medical Australia-New Zealand. 

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), 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. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. 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.

For more information on how we open a world of wellbeing, visit www.Tilray.com.

Cautionary Statement Concerning Forward-Looking Statements 
Certain statements in this press release constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication.

Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of the Company and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of the Company made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Contacts:

Tilray Brands:
Berrin Noorata
news@tilray.com

Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com

Medical Cannabis Bike Tour Foundation

press@medicalcannabis-biketour.com

TILRAY BRANDS CLOSES TRANSACTION ACQUIRING EIGHT BEER & BEVERAGE BRANDS FROM ANHEUSER-BUSCH; SOLIDIFIES LEADERSHIP POSITION IN U.S. CRAFT BEER MARKET

Tilray Now Holds 5%[1] of U.S. Craft Beer Market Share and Becomes 5th[2] Largest Craft Brewer in the Country, #1 Craft Brewer in the Pacific Northwest, #4 in the Southeast, and 5th in the Northeast

Tilray Successfully Executes Diversified Growth Strategy and Expands High Growth Beverage Business

NEW YORK, October 2, 2023 – Tilray Brands, Inc. (“Tilray Brands”, “Tilray”, “we” or the “Company”) (Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that the Company has closed its all-cash previously-announced acquisition of eight beer and beverage brands from Anheuser-Busch (NYSE: BUD), including the breweries and brewpubs associated with them. The acquired businesses include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.

In 2023, the U.S. craft beer market is projected to generate approximately $30 billion in revenue, and to grow at a CAGR of approximately 7.2% through 2030[3]. Combined with the pro forma sales revenue from the acquired businesses, Tilray Brands is expected to become the 5th largest craft beer business in the U.S. market this year2, up from the 9th, with its current brands SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, and Green Flash Brewing Company.

Irwin D. Simon, Chairman and Chief Executive Officer, Tilray Brands, said, “Tilray Brands’ portfolio today reflects our diversified business and the integration of key strategic acquisitions that have enabled us to grow our top line and deliver substantial cost savings through synergies, all while significantly expanding distribution to coveted markets across the U.S. and internationally. With this EBITDA accretive transaction, Tilray has acquired a stellar lineup of eight craft beer and beverage brands that both solidify our leadership in the craft beer industry and strengthen our business in the expansive beverage sector in which we see tremendous opportunity to reinvigorate innovation across many categories including non-alcoholic beverages, energy, and nutritional drinks. Together with our best-in-class team, I am confident that we will successfully integrate our current beer assets with these newly acquired brands and businesses to set the stage for higher growth.”

Mr. Simon continued, “Tilray’s diversified growth strategy is a purposeful and strategic adaptation to current market realities given delayed federal cannabis legalization in the U.S.  When federal cannabis legalization does happen, we believe that Tilray will be ready to dominate as a leading global CPG company with the resources, infrastructure and operations, distribution, brands, sales, and marketing know-how to lead the revolution of cannabis CPG in the mainstream.”

Ty Gilmore, President, Tilray Beer, added, "We are incredibly excited to welcome these iconic brands and the teams behind them to the Tilray Beer business. These brands command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling innovation and by reinvigorating our marketing, to excite and further accelerate the growth of our consumer base and drive new opportunities of growth and profitability for Tilray and our distributor partners.”

Strategic financial benefits include the following:

Strengthens and Solidifies Tilray’s Leadership Position in Craft Brewing:

• Established brand portfolio with loyal consumer base and growth upside from synergies and expanded capabilities in alcohol and non-alcoholic beverages

• Projected to generate craft beer pro-forma revenue of $250 million

• Strengthens distribution footprint nationwide

• Triples Tilray’s beer sales volume from four million cases to twelve million

Modern Facilities and Operations Fuel Innovation and Commercial Growth Opportunities:

• Four production facilities across the U.S.: Portland, OR, Bend, OR, Littleton, CO and Patchogue, NY

• Eight vibrant brewpub locations: Seattle, WA, Bend, OR (2), Portland, OR, Boise, ID, Littleton, CO, Breckenridge, CO, and Patchogue, NY

• Provides additional manufacturing capacity and innovation capabilities for commercial expansion opportunities

• Identified synergies across procurement, logistics and supply chain to reinvest profitability into growth drivers

Iconic Brands with Loyal Consumer Base:

• Shock Top is an award winning traditional Belgian-style wheat ale that was originally introduced in 2006 as a seasonal offering. After taking home the gold medal at the North American Beer Awards in the Belgian White category, it became a year-round offering. Shock Top Belgian White is a spiced wheat ale brewed with coriander spice and the peels of three different citrus fruits: orange, lemon, and lime. This uniquely crafted ale is unfiltered to create a naturally cloudy brew with a light golden color and a smooth, refreshing finish. Shock Top also has a seasonal line-up that excites consumers every year, led by Twisted Pretzel Wheat, delivering delicious taste and aroma of bakery-fresh pretzels.

• Blue Point Brewing Company was founded in 1998 by two friends who wanted to bring local craft beer to Long Island. Today, Blue Point has grown into one of the largest breweries in New York State, offering a lineup of easy-drinking and innovative craft beers. Its product portfolio includes Toasted Lager, Hoptical Illusion, Imperial Sunshine, Pinstripe Pils, as well as a rotating line of Innovation Beers. Blue Point has won numerous awards over the years that highlight the quality of innovation at forums such as the World Beer Cup, the Great American Beer Festival, the New York Craft Beer Competition, the Australian International Beer Awards, and the Atlantic City Beer Festival.

• Breckenridge Brewery opened its doors in 1990 in the ski town of Breckenridge, Colorado and has grown into one of the most recognized craft breweries in the U.S. Today, Breckenridge Brewery has two locations to visit – the original brewpub in Breckenridge and its renowned Farm House restaurant in Littleton, CO, outside Denver. With a focus on balanced, approachable, and interesting beer, the brewery’s portfolio includes Avalanche Amber Ale, Palisade Peach Wheat, Juice Drop Hazy IPA (India Pale Ale), Funslinger Lager, Vanilla Porter, Hop Peak IPA, Juice Drop Imperial Hazy IPA, Strawberry Sky, Mountain Beach Session Sour, Agave Wheat, Palisade Peach Light, Nitro Vanilla Porter, Nitro Irish Stout, and Christmas Ale (seasonal). In 2022, Breckenridge Agave Wheat won a Bronze medal in the American Wheat Beer category at the Great American Beer Festival.

• 10 Barrel Brewing Company was founded in 2006 in Bend, Oregon by a team who shared one simple mindset: brew beer, drink beer, and have fun doing it. Today, 10 Barrel boasts an award-winning team of brewers and has four brewpub locations: Bend West (Bend, OR), Bend East (Bend, OR), Portland, OR and Boise, ID. 10 Barrel is one of the most acclaimed breweries in the U.S., winning a gold medal at the 2022 Great American Beer Festival in the Specialty Berliner-Style Weisse category and a bronze medal in the German Sour Ale Category. 10 Barrel is consistently a top medal winner at the Oregon Beer Awards. Its products include Apocalypse IPA, Nature Calls, Profuse Juice, Rock Hop IPA, All Ways Down, Club Tread Mandarin IPA, Pilsner, Pub Beer, and Cucumber Crush. 10 Barrel took home three Gold and one Silver medal at the 2023 World Beer Cup.

• Redhook Brewery, founded in Seattle, Washington, is one of the nation’s original craft breweries, crafting better beer since 1981. Four decades later, one thing has never changed—Redhook is still brewing great beers. Its award-winning beers include Big Ballard Imperial IPA, Hazy Big Ballard Imperial IPA, Tropical Big Ballard Imperial IPA, Storm Surge Hazy IPA, Lagersquatch Lager, and Long Hammer IPA. Redhook Brewlab opened in 2017 in the heart of Seattle’s Capitol Hill neighborhood. It has an 8-barrel brewing system where consumers can taste the latest experiments. In 2023, Redhook launched its Big Ballard IPA Variety Pack, the industry’s first Imperial Craft 18pk.

• Widmer Brothers Brewing, founded in Portland, Oregon in 1984, is one of the largest craft breweries in the Pacific Northwest. In 1986, Widmer Brothers introduced its Hefe beer, an American variant on the traditional Hefeweizen, which spread widely across the country. In the 2023 Best of Craft Beer Awards, Hefe won Gold in the American Wheat category and Widmer Brothers was awarded “Large Brewery of the Year”. Its award-winning beers include Hefe, Drop Top Amber, Deadlift Imperial IPA, Hopcadia NW IPA, Cold Waters Cold IPA, Juicy Sunrise IPA, and Green Skies Hazy IPA.

• Square Mile Cider Company, launched in 2013, offers ciders made with pure Pacific Northwest apples and lager yeast to create a perfectly crisp, clean, and semi-dry hard cider. Its offerings include Original Hard Cider, Rosé Apple Cider, Peach Lemonade Cider, Raspberry Lemonade Cider, and Imperial Blackberry Pie.

• HiBall Energy was founded in 2005 as a clean energy seltzer made with zero sugar, zero calories, and organic caffeine. HiBall’s products have included Grapefruit, Watermelon Mint, Wild Berry, Black Berry, Lemon Lime, Peach, and Vanilla – all crafted with a proprietary, organic-certified energy blend, consisting of caffeine, guarana, and ginseng.

In addition to Tilray Brands’ craft beer portfolio, Tilray also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, Truss Beverage Co. non-alcoholic cannabis-beverages, and Happy Flower CBD sparkling non-alcoholic cocktails.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with four distinct and complementary business segments including medical and adult-use cannabis, medical distribution, wellness foods, and beverage-alcohol. Tilray Brands is on a mission to change people’s lives for the better – one person at a time - by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, today Tilray Brands’ unprecedented and diversified production platform supports a portfolio of best-in-class brands in over 20 countries including comprehensive adult-use and medical cannabis offerings, hemp-based foods, and craft beverages across North America, Europe, Australia, and Latin America.

For more information on Tilray Brands, visit www.Tilray.com and follow @Tilray

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under U.S. and Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the Company’s expected revenue growth, sales volume, profitability, synergies and accretion related to the acquisition; the Company’s ability to realize projected craft beer pro-forma revenue of $250 million; the Company’s ability to expand upon distribution and sales of alcohol products, in the U.S.; expected opportunities upon U.S. federal legalization; and the Company’s ability to commercialize new and innovative products. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed Annual Report on Form 10-K (and other periodic reports filed with the SEC (Securities and Exchange Commission)) of Tilray Brands made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Media Contact:
Berrin Noorata

news@tilray.com

Investor Contact:
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com

[1] Based on 2022 Beer Institute craft beer industry data.

[2] Expected rankings based on Brewers Association 2022 Annual Report and expected sales volume.

[3] Brewers Association 2022 Report.

MONTAUK BREWING EXPANDS DISTRIBUTION BEYOND THE NORTHEAST

Montauk’s Easy-Drinking and Best-Selling Craft Beers Are Now Available at Major Retailers, Restaurants and Bars Across Georgia

NEW YORK CITY – September 14, 2023 – Montauk Brewing Company (“Montauk Brewing” or “Montauk”), the leading and fastest-selling craft brewer in Metro New York[1], known for its exceptional craft beers and a subsidiary of Tilray Brands, Inc. (“Tilray” or the “Company”) (NASDAQ: TLRY and TSX: TLRY), announced today the beginning of a highly-anticipated expansion beyond the Northeast that will begin in Georgia, and continue to other major markets in the U.S. later this year

“This is a huge moment for Montauk Brewing, as we begin a sustainable path to becoming a national brand. Since Montauk Brewing was founded 11 years ago, the buzz around its innovative, easy-drinking beers has spread far beyond New York. Consumers and retailers across the country constantly ask us when Montauk will be available in their cities, and we’re excited that we can now show them why Montauk is the top craft brewer in New York,” said Ty Gilmore, President of U.S. Beer at Tilray.

Montauk’s best-selling styles of its drinkable craft beers are now available in both cans and kegs, including:

• Wave Chaser India Pale Ale (IPA) [6.4% Alcohol By Volume (ABV)]: A super clean and refreshing ale brewed with Chinook, Azacca, Columbus and El Dorado hops that deliver a wave of tropical and pine aromas.

• Cold Day IPA (6.7% ABV): Inspired by Montauk’s icy winds and frosty waters in the winter, the slightly hazy IPA was brewed with Amarillo and Strata that deliver crisp juice notes that warm the spirit.

• Driftwood Ale (6% ABV): A well-balanced English Pale Ale known for its dark copper color and easy drinkability, thanks to its Victory malts, which deliver terrific toasty, nutty and biscuity flavors.

• Box of Montauk: A rotating variety pack filled with Montauk’s best seasonal and flagship beers, featuring Wave Chaser IPA, The Surf Beer, Juicy IPA, and Tropical IPA for Fall 2023.

Montauk’s best-selling craft beers are now available across major retailers, restaurants, and bars throughout Georgia.

About Montauk Brewing Company

Montauk Brewing Company (“Montauk Brewing”), founded in 2012 by longtime friends, embraces the motto “Come as You Are,” honoring adventure and passion for the simple pleasures in life. Today, according to Nielson data, the beloved brand is the #1 fastest selling Craft Brewery in Metro New York and is a subsidiary of Tilray Brands (Nasdaq: TLRY; TSX: TLRY).

Montauk Brewing invites you to visit their red Brew Barn in downtown Montauk, open year-round for fresh beer needs, located just steps from the surf – right where it belongs.

Montauk Brewing is a subsidiary of Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life.   

For further information about Montauk Brewing Company, please visit www.montaukbrewingco.com and follow @montaukbrewco.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), 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 their very best life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be the most responsible, trusted, and market-leading cannabis and consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. 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.

For more information on how we open a world of well-being, visit www.Tilray.com and follow @tilray on all social platforms.

Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations.  Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

For further information:

SweetWater Brewing Company Media:

Chris Hong, christopher.hong@rygr.us, (970) 924 - 0704 ext. 2103,

Tilray Brands Media: Berrin Noorata, news@tilray.com

Tilray Brands Investors: Raphael Gross, (203) 682-8253, Raphael.Gross@icrinc.com

[1] Nielsen xAOC & Food 2022

GOOD SUPPLY’S FAN FAVOURITE CANNABIS STRAINS JUST GOT ‘JUICED’

The New Fruit-Forward Infused Pre-Roll Series from Best-Selling Cannabis Brand Good Supply Now Available Across Canada 

TORONTO, ONTARIO – August 17, 2023 – Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company today announced the launch of the new JUICED™ infused pre-rolls by its #1 best-selling Canadian cannabis brand, Good Supply[1], bringing the brand’s pre-roll collection to new heights.

Introducing Good Supply Juiced a new series of bold and fruity infused pre-rolls and blunts, formulated for on-the-go experiences to add to consumers’ days. Its jam-packed flavours and smooth smoking experience are produced from a combination of strain-specific flower and the fruit-flavoured extract of Good Supply’s best-selling vapes. The Good Supply JUICED sub-brand will feature several flavours and formats, including JUICED™ single flavour multi-packs, JUICED™ infused blunts, and the JUICED™ Discovery Pack, a rotating multi-pack offering through which a new series of flavours will be introduced every 6 months.

Good Supply’s tasty lineup of new JUICED offerings:

JUICED™ Single Flavour Multi-Packs

Good Supply JUICED™ multi-pack infused pre-rolls include:

• Pineapple Paradise Juiced: Pineapple Paradise delivers the entourage of Pineapple Express flower and a tropical punch of the fruit-flavoured extract found in Good Supply’s signature Pineapple Express Vapes. Available in 5x0.5g in Ontario, Alberta, Manitoba and Nova Scotia with further national launches expected later this year.

• Wild Berry Juiced: Made from Sweet Berry Kush flower and the extract from Good Supply’s latest Rocket Bomb vapes, these Wild Berry JUICED pre-roll multi-packs are turbocharged with hints of cherry and berry. Available in 5x0.5g in Ontario, Alberta and Manitoba with further national launches expected later this year.

• Maui Mango Juiced: Serving as the first Good Supply infused pre-roll 5-pack joining its portfolio, Maui Mango is produced from sativa flower infused with the tropical sweet and tart aromas of the extract from the Good Supply Mango Passionfruit vape extract, available in 5x0.5g in Ontario, coming to British Columbia and Alberta this August with further national launches expected later this year.

Good Supply JUICED™ Discovery Packs

The Good Supply JUICED™ Discovery Pack is available in a 3x0.5g size to allow consumers to explore a range of new flavours, with new flavours rotating in every six months. This first drop is available in Alberta and Ontario, coming soon to British Columbia and Saskatchewan in August, and features:

• Groovy Grape Juiced: The Groovy Grape infused pre-rolls feature the Purple Monkey vape extract from the best-selling vape, paired with the classic indica flower, Grand Daddy Purps.

•  Maui Mango Juiced: A single serving of 1x0.5g as a sneak peek to enjoying the five-pack of a trip to a tropical paradise, pairing sativa flower with the sweet tart flavours of the new Mango Passionfruit vape.          

• Orange Oasis Juiced: A hybrid blend infused with Orange Swirl vape extract made for the perfect citrus getaway.

More Juiced Discovery Pack flavours coming soon with each fresh rotation.

JUICED™ Infused Blunts

Juiced Infused 1g Blunts are packed with the same bold fruit flavour and strain-specific flower that’s available in the Juiced cones; the natural blunt wrap helps to elevate the experience with a smooth, slower burn slow meant to be savoured. Coming soon to Ontario and Alberta this month, with further national launches, these blunts will be available in 1x1g for purchase at select retailers.

Good Supply’s first launch of its JUICED™ infused blunts includes:

• Groovy Grape Blunts: Featuring the bold grape flavours of our Purple Monkey vapes and made with Grand Daddy Purps flower, Groovy Grape is a smooth-smoking indica made for an elevated Good Supply consumer experience that its fans and consumers know and love.

•  Bunches of Bananas Blunts: Bunches of Bananas blunts feature creamy banana flavours from the extract used in our Banana Kush vapes and made with Monkey Butter flower.

Consumers can expect more JUICED flavours and formats to launch later this year, offering consumers more options to enjoy during various solo or social experiences. Good Supply JUICED™ infused pre-rolls are now available in select regions and retailers across Canada. To keep up with Good Supply and its latest innovations, follow @goodsupplycannabis.

About Good Supply

Good Supply is one of Canada's leading cannabis brands in flower, pre-rolls, vapes, and concentrates, and has become a favourite among consumers and budtenders. At Good Supply good is the new great. Rooted in classic strains that punch above their weight, Good Supply has been one of the top-selling brands in the concentrates and pre-roll category within Canada and is known for its innovative take on its products across its expansive portfolio.

To learn more about Good Supply, visit www.goodsupplycannabis.com and follow @goodsupplycannabis.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY and TSX: TLRY) 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 the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. 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 alcoholic beverages.

For more information on Tilray, visit Tilray Brands, Inc. and follow @tilray on Instagram, Twitter, Facebook, and LinkedIn.

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Forward-Looking Statements

Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Contacts:

Media:

Kaitlin Macapagal

news@tilray.com

Investors

Raphael Gross

203-682-8253

Raphael.Gross@icrinc.com

[1] Produced in accordance with Health Canada Processing and Cultivation licence by Aphria Inc., a subsidiary of Tilray Brands, Inc.

Tilray Brands Announces Agreement to Acquire Eight Beer & Beverage Brands From Anheuser-Busch, Fueling Tilray’s Future in the U.S. Craft Beer Industry

Acquisition is Expected to Position Tilray as the 5th1 Largest Craft Beer Brewer in the U.S. with 5%2 Craft Beer Market Share

Pro Forma Revenue for Tilray’s Fast-Growing and Profitable U.S. Beverage Alcohol Portfolio Combined with Acquired Brands is Expected to be ~$3003 Million

Accretive to EBITDA, All Cash Transaction Affirms Tilray’s Success in Executing its Diversified Growth Strategy

Webcast to Discuss Announcement at 4:45 p.m. ET August 7th, 2023.

NEW YORK, Aug. 07, 2023 -- Tilray Brands, Inc. (“Tilray Brands”, “Tilray”, “we” or the “Company”) (Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that the Company has entered into a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch (NYSE: BUD). Upon satisfaction of customary closing conditions, Tilray will acquire Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The transaction includes current employees, breweries and brewpubs associated with these brands. The purchase price will be paid in all cash and the transaction is expected to close in 2023.

These beer and beverage brands possess the hallmarks of strong consumer loyalty and further diversify Tilray’s growing U.S. beverage alcohol segment. The expected sales volume of the acquired brands will elevate Tilray Brands to the 5th largest craft beer business position in the U.S., up from the 9th, with current brands SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company. Tilray Brands also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, and Happy Flower CBD sparkling non-alcoholic cocktails.

Irwin D. Simon, Chairman and CEO, Tilray Brands, said, “Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy. We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base.”

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1 Expected ranking based on Brewers Association 2022 Annual Report and expected sales volume.
2 Based on 2022 Beer Institute craft beer industry data.
3 Pro-forma revenue based on Tilray’s May 31, 2023 revenue for beverage-alcohol with impacts of Montauk Brewing normalized to be reflective of a full fiscal year of results and revenue of the acquired brands reported December 31, 2022.

Mr. Simon continued, “Leveraging the deep CPG expertise of Tilray’s leadership team and acquisition integration track record, we intend to drive both revenue and cost synergies, while significantly expanding national distribution to coveted markets across the U.S. and internationally. In a matter of three years, Tilray has solidified its leadership position in the craft beer industry, and we fully intend to be that change agent that reinvigorates the sector. Upon federal cannabis legalization, we expect to leverage our leadership position, wide distribution network and portfolio of beloved beverage and wellness brands to include THC-based products and maximize all commercial opportunities.”

Andy Thomas, President, The High End at Anheuser-Busch said “Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries, and since then, we’ve had many positive conversations that led to today’s announcement. The talented people behind these brands and breweries, along with our significant investments in them over the years, have positioned them for a bright future with Tilray Brands. We are committed to working with Tilray Brands over the coming months to ensure this is a smooth transition for the people who are working every day to get these amazing beers and beverages to consumers across the U.S.”

Ty Gilmore, President, U.S. Beer at Tilray Brands, added, "With this transaction, our beer business is expected to triple in size from 4 million cases to 12 million cases annually. Looking ahead, we will further capitalize on the potential of these brands through product innovation, retailer partnerships and expanded distribution into key markets, including the Pacific Northwest and California.”

Strengthens and Solidifies Tilray’s Leadership Position in Craft Brewing:

• Established brand portfolio with loyal consumer base and growth upside from synergies and expanded capabilities in alcohol and non-alcoholic beverages

• Projected to generate craft beer pro forma revenue of $250 million

• Distribution relationships through the Anheuser-Busch system, strengthening our distribution footprint nationwide

Modern Facilities and Operations Fuel Innovation and Commercial Growth Opportunities:

• Four production facilities across the U.S.: Portland, OR, Bend, OR, Littleton, CO and Patchogue, NY

• Eight vibrant brewpub locations: Seattle, WA, Bend, OR (2), Portland, OR, Boise, ID, Littleton, CO, Breckenridge, CO, and Patchogue, NY

• Provides additional manufacturing capacity and innovation capabilities for commercial expansion opportunities

• Additional synergies being identified to increase profitability

Iconic Brands with Loyal Consumer Base:

• Shock Top is an award winning traditional Belgian-style wheat ale that was originally introduced in 2006 as a seasonal offering. After taking home the gold medal at the North American Beer Awards in the Belgian White category, it became a year-round offering. Shock Top Belgian White is a spiced wheat ale brewed with coriander spice and the peels of three different citrus fruits: orange, lemon, and lime. This uniquely crafted ale is unfiltered to create a naturally cloudy brew with a light golden color and a smooth, refreshing finish. Shock Top also has a seasonal line-up that excites consumers every year, led by the Twisted Pretzel Wheat, delivering delicious taste and aroma of bakery-fresh pretzels.

• Breckenridge Brewery opened its doors in 1990 in the ski town of Breckenridge, Colorado and has grown into one of the most recognized craft breweries in the U.S. Today, Breckenridge Brewery has two locations to visit – the original brewpub in Breckenridge and its renowned Farm House restaurant in Littleton, CO, outside Denver. With a focus on balanced, approachable, and interesting beer, the brewery’s portfolio includes Avalanche Amber Ale, Palisade Peach Wheat, Juice Drop Hazy IPA, Funslinger Lager, Vanilla Porter, Hop Peak IPA, Juice Drop Imperial Hazy IPA, Strawberry Sky, Mountain Beach Session Sour, Agave Wheat, Palisade Peach Light, Nitro Vanilla Porter, Nitro Irish Stout, and Christmas Ale (seasonal). In 2022, Breckenridge Agave Wheat won a Bronze medal in the American Wheat Beer category at the Great American Beer Festival.

• Blue Point Brewing Company was founded in 1998 by two friends who wanted to bring local craft beer to Long Island. Today, Blue Point has grown into one of the largest breweries in New York State, offering a lineup of easy-drinking and innovative craft beers. Its product portfolio includes Toasted Lager, Hoptical Illusion, Imperial Sunshine, Pinstripe Pils, as well as a rotating line of Innovation Beers. Blue Point has won numerous awards over the years that highlight the quality of innovation at forums such as the World Beer Cup, the Great American Beer Festival, the New York Craft Beer Competition, the Australian International Beer Awards, and the Atlantic City Beer Festival.

• 10 Barrel Brewing Company was founded in 2006 in Bend, Oregon by a team who shared one simple mindset: brew beer, drink beer, and have fun doing it. Today, 10 Barrel boasts an award-winning team of brewers and has four brewpub locations: Bend West (Bend, OR), Bend East (Bend, OR), Portland, OR and Boise, ID. 10 Barrel is one of the most acclaimed breweries in the U.S., winning a gold medal at the 2022 Great American Beer Festival in the Specialty Berliner-Style Weisse category and a bronze medal in the German Sour Ale Category. 10 Barrel is consistently a top medal winner at the Oregon Beer Awards. Its products include Apocalypse IPA, Nature Calls, Profuse Juice, Rock Hop IPA, All Ways Down, Club Tread Mandarin IPA, Pilsner, Pub Beer, and Cucumber Crush. 10 Barrel took home three Gold and one Silver medal at the 2023 World Beer Cup.

• Redhook Brewery, founded in Seattle, Washington, is one of the nation’s original craft breweries, crafting better beer since 1981. Four decades later, one thing has never changed—Redhook is still brewing great beers. Its award-winning beers include Big Ballard Imperial IPA, Hazy Big Ballard Imperial IPA, Tropical Big Ballard Imperial IPA, Storm Surge Hazy IPA, Lagersquatch Lager, and Long Hammer IPA. Redhook Brewlab opened in 2017 in the heart of Seattle’s Capitol Hill neighborhood. It has an 8-barrel brewing system where consumers can taste the latest experiments. In 2023, Redhook launched its Big Ballard IPA Variety Pack, the industry’s first Imperial Craft 18pk.

• Widmer Brothers Brewing, founded in Portland, Oregon in 1984, is one of the largest craft breweries in the Pacific Northwest. In 1986, Widmer Brothers introduced its Hefe beer, an American variant on the traditional Hefeweizen, which spread widely across the country. In the 2023 Best of Craft Beer Awards, Hefe won Gold in the American Wheat category and Widmer Brothers was awarded “Large Brewery of the Year”. Its award-winning beers include Hefe, Drop Top Amber, Deadlift Imperial IPA, Hopcadia NW IPA, Cold Waters Cold IPA, Juicy Sunrise IPA, and Green Skies Hazy IPA.

• Square Mile Cider Company, launched in 2013, offers ciders made with pure Pacific Northwest apples and lager yeast to create a perfectly crisp, clean, and semi-dry hard cider. Its offerings include Original Hard Cider, Rosé Apple Cider, Peach Lemonade Cider, Raspberry Lemonade Cider, and Imperial Blackberry Pie.

• HiBall Energy was founded in 2005 as a clean energy seltzer made with zero sugar, zero calories, and organic caffeine. HiBall’s products have included Grapefruit, Watermelon Mint, Wild Berry, Black Berry, Lemon Lime, Peach, and Vanilla – all crafted with a proprietary, organic-certified energy blend, consisting of caffeine, guarana, and ginseng.

Webcast
Tilray Brands hosted a live webcast to discuss the announcement at 4:45 p.m. ET, which will be available on the Investors section of Tilray’s website at www.Tilray.com. The webcast will also be archived.

For further details, investors and other security holders may also obtain a copy of the presentation associated with the transaction on the Investors section of Tilray Brands’ website at www.Tilray.com.

About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), 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. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Patients and consumers trust Tilray Brands to be the most responsible, trusted and market leading cannabis consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. A pioneer in cannabis research, cultivation, and distribution, Tilray Brands’ unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on Tilray Brands, visit www.Tilray.com and follow @Tilray

Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under U.S. and Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the timing and certainty of closing the acquisition of craft brands from Anheuser-Busch; the Company’s expected revenue generation and accretion related to the acquisition; the Company’s ability to expand upon distribution and sales of alcohol products, in the U.S.; expected opportunities upon U.S. federal legalization; and the Company’s ability to commercialize new and innovative products. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray Brands made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Media:
Berrin Noorata
news@tilray.com

Jaydon Case
647-882-1799
news@tilray.com

Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com