Mr. Raj Grover reports

HIGH TIDE TO OPEN FOUR NEW CANNA CABANA LOCATIONS ACROSS ALBERTA AND ONTARIO

High Tide Inc. will open four new Canna Cabana-branded locations across Ontario and Alberta, located in Calgary, Scarborough, Kitchener and Nepean. These openings bring High Tide's total store count to 215 Canna Cabana locations across Canada, 90 in the province of Alberta and 92 in the province of Ontario.

"Hitting 215 Cabanas -- almost entirely through organic growth -- is a powerful validation of our disciplined capital allocation strategy and our ability to identify and win in the right neighbourhoods," said Raj Grover, founder and chief executive officer of High Tide.

"With 24 new locations opened so far this calendar year, we remain on track to finish toward the higher end of our 20-to-30-new-store target for 2025. Our team's consistent execution continues to expand our national reach and amplify the strength of the Canna Cabana brand, driving profitable growth as we deepen our presence in Alberta and Ontario," added Mr. Grover.

Calgary location

The company's new Canna Cabana located at 2525 Bridlecrest Way SW in Calgary, Alta., will begin selling recreational cannabis products and consumption accessories for adult use on Nov. 13, 2025. It is situated in the southwest corner of Calgary, representing a new area of the city not currently served by a Canna Cabana. Located in a convenient neighbourhood plaza alongside fast food and other popular everyday-use tenants, it strategically positions Canna Cabana in a high-growth area. With limited opportunities for competitor entry, this location further strengthens the company's footprint in Calgary while driving new customer loyalty in a rapidly expanding community.

Scarborough location

The company's new Canna Cabana located at 2000 Eglinton Ave. East in Scarborough, Ont., is expected to begin selling recreational cannabis products and consumption accessories for adult use on Nov. 17, 2025. This location benefits from strong visibility along Eglinton Avenue, positioned on the east side of Toronto and the west end of Scarborough. Situated along the Golden Mile shopping strip, this site backs onto a major everyday retail destination that includes a discount club grocer, a national pet store and popular fast-food tenants, supporting consistent traffic and convenient access.

Kitchener location

The company's new Canna Cabana located at 875 Highland Rd. West in Kitchener, Ont., is expected to begin selling recreational cannabis products and consumption accessories for adult use on Nov. 18, 2025. This new store is situated within a high-traffic destination commercial centre anchored by a national grocer, liquor retailer and other major everyday retailers. The combination of strong retail draw and limited nearby competition positions Canna Cabana to capture meaningful market share in this growing node of Kitchener.

Nepean location

The company's new Canna Cabana located at 1831 Robertson Rd. in Nepean, Ont., is expected to begin selling recreational cannabis products and consumption accessories for adult use on Nov. 20, 2025. Bells Corners in Nepean remains a strong market for Canna Cabana as a rapidly evolving Ottawa suburb, and this new location will further deepen the company's presence in the area. Located within a high-traffic commercial plaza and supported by a favourable competitive landscape, this store benefits from strong visibility from the main thoroughfare, along with convenient co-tenancies including quick-service restaurants that drive consistent everyday traffic.

Employee stock options grant

In addition, High Tide announces the grant of 61,000 incentive stock options to various employees of the company. Each option is exercisable at the closing price of the company's common shares listed on the TSX Venture Exchange based on the last trading day immediately prior to this press release, expires three years from the date of grant and vests over a two-year period. Each option is exercisable to purchase one common share of the company and are being issued pursuant to the terms of the company's omnibus plan, which became effective on June 2, 2022.

About High Tide Inc.

High Tide is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant. Its wholly owned subsidiary, Canna Cabana, is the second-largest cannabis retail brand globally. High Tide is uniquely built around the cannabis consumer, with wholly diversified and fully integrated operations across all components of cannabis.

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