TAP Molson Coors Beverage Company

Tilray Brands, Inc. (“Tilray”, “our”, “we” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company, has successfully completed the previously announced acquisition of Atwater Brewery, from Molson Coors Beverage Company (“Molson Coors”) (NYSE: TAP).

Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, said, "Atwater Brewery is a renowned craft brewery with a rich history and a loyal following in Michigan. This acquisition expands our reach in the Great Lakes region and further strengthens our position in the craft beer industry. We are excited to welcome Atwater Brewery to Tilray Brands and are committed to leveraging our expertise and resources to drive growth, expand distribution, and provide beer lovers with access to Atwater's exceptional brews.”

Atwater Brewery joins Tilray Brands’ impressive beverage portfolio which includes leading craft beer, spirits, and non-alcohol beverage brands such as SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Hop Valley Brewery, Terrapin Beer Co, Revolver Brewery, Square Mile Cider Company, HiBall Energy, Happy Flower CBD, along with Canada's top recreational cannabis and THC beverage brands, Mollo and XMG.

AdvisorsTD Securities acted as financial advisor, and DLA Piper LLP (US) acted as external legal counsel to Tilray Brands.

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

For more information on how we are elevating lives through moments of connection, visit Tilray.com and follow @Tilray on all social platforms.

Cautionary Statement Concerning Forward-Looking StatementsCertain 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; expected sales, distribution and market share growth, revenue generation, synergies and accretion related to the acquisition; Tilray’s ability to expand upon distribution and sales of alcohol products in the U.S.; Tilray’s ability to enhance the value of its brand portfolio; and Tilray’s anticipated investments in particular businesses, including craft beer. 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 Tilray or that Tilray 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 made with the SEC and available on EDGAR and in Tilray’s Canadian securities filings. The forward-looking statements included in this communication are made as of the date of this communication, and, while Tilray believes that information provides a reasonable basis for these statements, these statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. You should not rely upon forward-looking statements or forward-looking information as predictions of future events and Tilray 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.

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