Pablo's Revenge, Dante'z Inferno, and Frost'd Flakes launched under Tweed brand

Up to five additional strains expected to follow in June 2026

Company targeting rapid growth in Germany's medical cannabis market

Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX:WEED) (NASDAQ:CGC) today announced the relaunch of the Tweed brand in the German medical market, alongside the introduction of three cannabis strains developed by MTL Cannabis Corp. ("MTL"), a wholly-owned subsidiary of the Company. The dual milestone represents the Company's first international product release following its recent acquisition of MTL.

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Pablo's Revenge

The Tweed brand relaunch – now powered by MTL's premium genetics – signals the Company's commitment to leveraging the full equity of its legacy brand in key international markets and comes as Germany's medical cannabis market continues to expand rapidly, approaching $1 billion in annual value in 2025¹. The MTL acquisition has enhanced Canopy Growth's capacity to meet rising demand in key international markets, including Germany, while reintroducing a brand that physicians and patients have come to trust.

"Germany is one of the fastest-growing medical cannabis markets globally, and demand continues to scale rapidly. The relaunch of our Tweed brand is a meaningful moment for us, reflecting both the strength of what we have built, and our commitment to delivering consistent, high-quality cannabis that physicians can prescribe with confidence and patients can rely on as part of their care. We believe the European Union represents a tremendous opportunity for Canopy, and Germany is just the beginning," said Luc Mongeau, Chief Executive Officer, Canopy Growth.

The initial launch includes three cultivars – Pablo's Revenge, Dante'z Inferno, and Frost'd Flakes – selected for their quality and consistency. Up to five MTL-derived strains are expected to be introduced in June 2026, with further portfolio expansion planned throughout the year.

The Company also announced today that it has been granted a management cease trade order effective as of May 28, 2026, by its principal regulator, the Ontario Securities Commission under National Policy 12-203 – Management Cease Trade Orders. This follows the Company's announcement on May 15, 2026 regarding certain non-cash technical errors in the Company's accounting relating to certain share-settled warrants of the Company with exercise prices denominated in U.S. dollars, first issued during the fiscal year ended March 31, 2024. The Company intends to refile the relevant financial statements (the "Refiling") in its Annual Report on Form 10-K for the fiscal year ended March 31, 2026, which is expected to be filed with Canadian securities regulators and with the United States Securities and Exchange Commission (the "SEC") on June 15, 2026 (the "Comprehensive Form 10-K").

About Canopy Growth

Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives. Its portfolio of owned and licensed brands including Tweed, 7ACRES, DOJA, Deep Space, Deelish, Claybourne, MTL Cannabis, Low Key by MTL and R'belle, as well as category defining Storz & Bickel, delivers innovative products to consumers across Canada and beyond.

Canopy Growth is Canada's leading provider of medical cannabis services through Canada House Clinics and serves patients online via Abba Medix. The Company also holds unconsolidated, non-controlling interest in Canopy USA, LLC, which provides exposure to the U.S. THC market.

Committed to quality, responsible use, and community, Canopy Growth is shaping a future where cannabis is embraced for its potential to enhance well-being.

For more information visit www.canopygrowth.com

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements and uncertainties include statements with respect to the occurrence, timing and expectations relating to further portfolio expansion in European markets including an additional five MTL-derived strains expected to be introduced in 2026; the outstanding work and the planned filing of the Refiling; the expected timing of the filing of the Comprehensive Form 10-K; disclosure of further updates and bi-weekly status reports with respect to the MCTO; the timing, duration and impacts with respect to the MCTO; and expectations for other economic, business, and/or competitive factors.

Risks, uncertainties and other factors involved with forward-looking information or statements could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including delays in completing the Refiling and the Comprehensive Form 10-K; risks relating to the dilutive impact of the transactions and future resales of Common Shares in the public market, which may negatively affect the stock price of Common Shares; negative operating cash flow; uncertainty of additional financing; use of proceeds; volatility in the price of the Common Shares; risks relating to the overall macroeconomic environment, which may impact customer spending, costs and margins, including tariffs (and related retaliatory measures), the levels of inflation, and interest rates; expectations regarding future investment, growth and expansion of operations; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; legal and regulatory risks inherent in the cannabis industry, including the global regulatory landscape and enforcement related to cannabis; additional dilution; political risks and risks relating to regulatory change, including with respect to reimbursement rates in the medical cannabis market; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca and with the SEC through EDGAR at www.sec.gov/edgar, including under the heading "Risk Factors" in the Company's annual report on Form 10-K for the fiscal year ended March 31, 2025 and its subsequently filed quarterly reports on Form 10-Q.

In respect of the forward-looking statements and information, the Company has provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information or statements and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information or forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

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¹ Prohibition Partners, Five Takeaways from the Global Medical Cannabis Market Review 2026, March 2026 https://prohibitionpartners.com/2026/03/26/five-takeaways-from-the-global-medical-cannabis-market-review-2026/

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Media: media@canopygrowth.com

Investor: invest@canopygrowth.com

Canopy Growth Relaunches Tweed Brand in Germany with New MTL Cannabis Strain Lineup, Marking First International Release following Acquisition