Mr. Raj Grover reports

HIGH TIDE ACQUIRES ESTABLISHED CANNABIS STORE IN CHESTERMERE, ALBERTA

High Tide Inc. has completed the acquisition of an established retail cannabis store located at 100 Rainbow Rd. in Chestermere, Alta., for $670,000 in cash. The store will be rebranded under the Canna Cabana banner, bringing High Tide's total store count to 234 locations across Canada and 93 in the province of Alberta.

The store occupies a high-visibility unit along one of Chestermere's main arterial roads, giving it strong exposure to local residents as well as commuters travelling to and from Calgary. The unit is co-tenanted with a national quick-service restaurant and several specialty retail and personal service businesses and sits next to a major grocer and a liquor store. The same building is home to a range of professional service tenants that bring steady traffic to the property throughout the day. Together, these daily-needs destinations generate the kind of repeat, convenience-driven shopping trips that suit Canna Cabana's discount-club model.

Surrounded by residential neighbourhoods in every direction, the store is positioned to serve both its immediate community and customers from across the wider area who travel the route each day.

"Great opportunities are worth waiting for. We've wanted to bring Canna Cabana to Chestermere for some time, but we weren't prepared to compromise on location or economics just to enter the market. Today, we're pleased to have secured an established, cash-flowing store at an attractive 2.1 times annualized adjusted EBITDA [earnings before interest, taxes, depreciation and amortization]. This is exactly how we intend to approach our growth opportunities going forward: remain opportunistic, stay disciplined on valuations, and pursue acquisitions or organic development based on what makes the most sense for our shareholders," said Raj Grover, founder and chief executive officer of High Tide.

"Retail success starts with the right location, and this one checks many of the boxes we look for. Strong visibility, growing residential neighbourhoods and a national discount grocer nearby make it an excellent fit for our innovative discount-club model. As we continue expanding across Canada, we'll remain selective, focusing on quality locations and strong returns. We're excited to bring our club's unbeatable value proposition to Chestermere and many more communities across the country," added Mr. Grover.

Transaction details

The transaction, which was an arm's-length transaction, closed on Oct. 8, 2026. The purchase price of $670,000 was paid entirely in cash on closing and represents 2.1 times the store's annualized adjusted EBITDA of approximately $316,000 for the three months ended Aug. 31, 2026.

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, including:

• Retail: Canna Cabana is the largest cannabis retail chain in Canada, with 234 domestic and one international location. The company's Canadian brick-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, holding a growing 12-per-cent share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD (cannabidiol) products. In 2025, the company became the first North American cannabis operator to launch a brick-and-mortar presence in Germany.
• Medical cannabis distribution: Remexian Pharma GmbH is a leading German pharmaceutical company, with a 14-per-cent share of the German medical cannabis market, built for the purpose of importation and wholesale of medical cannabis products at affordable prices. Among all German medical cannabis procurers, Remexian has one of the most diverse reaches across the globe and is licensed to import from 19 countries, including Canada.

High Tide consistently moves ahead of the currents, having been named one of Canada's Top Growing Companies by The Globe and Mail's Report on Business in 2025 for the fifth consecutive year and was recognized as a top 50 company by the TSX-V in 2022, 2024 and 2025. High Tide was also ranked No. 1 in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023.

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