Organigram Provides Update on COVID-19 Corporate Action Plan and Timing for Q3 Results - Seite 2

The Company expects that its Q3 Interim Filings will be filed on July 21, 2020. Until such time as the Q3 Interim Filings are filed, Organigram management and other insiders are subject to a trading blackout in accordance with the terms of the blanket relief.

Given the timing of the Company’s fiscal Q3 2020 corresponding with COVID-19 coupled with changing market dynamics, the Company expects to report a decline in net revenue for fiscal Q3 2020 compared to fiscal Q2 2020 impacted by insignificant wholesale revenue being recorded in the quarter. The Company also expects to report a decrease in selling, general & administrative (SG&A) expenses for fiscal Q3 2020 compared to fiscal Q2 2020. As the Company right-sizes its production to market demand and reviews its asset carrying values, it expects to report negative adjustments to inventories and an asset impairment on its Moncton facility. Based on new production levels and its inventories on hand, the Company currently expects it will be able to meet consumer demand as it continues to adjust its operations to emerging preferences in a dynamic marketplace.

Other than as disclosed in this news release and its May 29, 2020 news release, which announced the amendment to the Company’s credit agreement dated May 31, 2019, with the Bank of Montreal as lead arranger and agent as well as a syndicate including three other lenders, there have been no material business developments since the date of the Company’s last interim financial statements filed on April 14, 2020. Notwithstanding the foregoing, the Company has issued news releases subsequent to that date copies of which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Q3 Conference Call Details

The Company plans to host a conference call to discuss its Q3 results with details as follows:

Date: July 21, 2020

Time: 8:00 a.m. Eastern Time

Toll Free (North America) Dial-In Number: [phone]

International Dial-In Number: [phone]

* All participants will be required to enter Conference ID: 7882447 to gain access to the call.

Webcast: https://event.on24.com/wcc/r/2393332/93DADEF857E6C6908A4A4849C8FB44D8

A replay of the webcast will be available within 24 hours after the conclusion of the call at https://www.organigram.ca/investors and will be archived for a period of 90 days following the call.

About Organigram Holdings Inc.:

Organigram Holdings Inc. is a NASDAQ and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada.