Mr. Luc Mongeau reports

CANOPY GROWTH ANNOUNCES MTL CANNABIS SHAREHOLDER APPROVAL OF ACQUISITION

Shareholders of MTL Cannabis Corp. have voted to approve Canopy Growth Corp.'s previously announced acquisition of MTL at a special meeting of shareholders of MTL held Feb. 17, 2026.

The plan of arrangement with Canopy Growth received overwhelming support from MTL shareholders, with: (i) 99.97 per cent of all shares of MTL cast in favour of the special resolution approving the transaction; and (ii) 99.80 per cent of MTL shares, excluding votes attached to MTL shares required to be excluded pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, cast in favour of the special resolution approving the transaction. Approximately 89 per cent of MTL shareholders participated in the vote, demonstrating broad support for the combination. Further details on the vote are provided in MTL's press release dated Feb. 18, 2026.

"The strong shareholder support received today marks a significant milestone toward completing this strategically compelling combination of two organizations that will create Canada's leading medical cannabis company," said Luc Mongeau, chief executive officer of Canopy Growth. "By combining MTL's cultivation capabilities with our scale, we're creating a more robust and competitive platform for long-term success in the Canadian and regulated international markets. We're grateful to MTL shareholders for endorsing this vision and look forward to the opportunities ahead."

The closing of the transaction, which remains subject to customary closing conditions, including final court and other third party approvals, is expected to occur before the end of March, 2026.

About Canopy Growth Corp.

Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.

Through an unwavering commitment to consumers, Canopy Growth delivers innovative products from owned and licensed brands, including Tweed, 7Acres, Doja, Deep Space and Claybourne, as well as category-defining vaporization devices by Storz & Bickel. In addition, Canopy Growth serves medical cannabis patients globally with principal operations in Canada, Europe and Australia.

Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC (tetrahydrocannabinol) market through an unconsolidated, non-controlling interest in Canopy USA. Canopy USA's portfolio includes ownership of Acreage Holdings Inc., a vertically integrated multistate cannabis operator with operations throughout the U.S. Northeast and Midwest, as well as ownership of Wana Wellness LLC, The Cima Group LLC and Mountain High Products LLC, a leading North American edibles brand, and majority ownership of Lemurian Inc., a California-based producer of high-quality cannabis extracts and clean vape technology.

At Canopy Growth, the company is a future where cannabis is embraced for its potential to enhance well-being and improve lives. With high-quality products, a commitment to responsible use, and a focus on enhancing communities where people live and work, Canopy Growth is paving the way for a better understanding of all that cannabis can offer.

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