Canopy Growth Strengthens Balance Sheet with Early US$25 Million Term Loan Prepayment

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (Nasdaq: CGC), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives, announced today that it completed an early prepayment of US$25 million (the “Prepayment”) against the Company’s senior secured term loan (the “Term Loan”).

The Company previously entered into an agreement with certain of its lenders (the “Agreement”), which the Company announced on July 29, 2025. Under the terms of the Agreement, Canopy Growth agreed to make the following prepayments under the Term Loan: (i) US$25,000,000 at par on or about July 31, 2025; (ii) US$10,000,000 at par on or prior to December 31, 2025; and (iii) US$15,000,000 at par on or prior to March 31, 2026.

The Company made the first of three prepayments in the amount of US$25 million on July 31, 2025. The current Prepayment, which the Company has elected to make early, satisfies the remainder of the Company’s obligations set forth in the Agreement.

“Having accelerated the full US$50 million prepayments of our Term Loan under the Agreement, the Company has captured US$4.0 million of cash interest savings for fiscal 2026. By reducing debt and interest expense, we continue to take prudent steps that strengthen the Company’s financial position,” said Tom Stewart, Interim Chief Financial Officer.

About Canopy Growth

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 market through an unconsolidated, non-controlling interest in Canopy USA, LLC (“Canopy USA”). Canopy USA’s portfolio includes ownership of Acreage Holdings, Inc., a vertically integrated multi‑state 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.