High Tide opens new Canna Cabana store in Scarborough

Mr. Carter Brownlee reports HIGH TIDE OPENS NEW CANNA CABANA IN SCARBOROUGH, ONTARIO High Tide Inc.'s Canna Cabana retail cannabis store, located at 3148 Kingston Rd. in Scarborough, Ont., began selling recreational cannabis products and consumption accessories for adult use today on Feb. 9, 2026. This opening brings High Tide's total store count to 219 Canna Cabana locations across Canada and 95 in the province of Ontario. This new Canna Cabana location in Scarborough is strategically located along Kingston Road, a major east-west thoroughfare with strong visibility and high daily traffic volumes. The store serves an immediate trade area with limited nearby cannabis competition and benefits from convenient access to surrounding residential neighbourhoods. Previously occupied by Rockwood Cannabis, which performed well in this market, the location offers a proven foundation for continued success. "This store opening reflects our continued focus on disciplined expansion and our commitment to opening locations that meet our strict financial and operational criteria," said Raj Grover, founder and chief executive officer of High Tide. "Situated in a dense and growing neighbourhood, this location represents a compelling opportunity to further strengthen our Ontario footprint through a well-positioned site with a strong history of retail performance." "We look forward to welcoming this store into the Canna Cabana network, and leveraging our proven operating model, pricing leadership and loyalty ecosystem to drive incremental performance," added Mr. Grover. Grant of options and RSUs (restricted share units) The company also announces that it has granted options to purchase an aggregate of 145,500 common shares of the company to certain employees and consultants of the company. The stock options are exercisable at a price of $3.22 per share until Feb. 6, 2029, and vest over two years. The company also granted an aggregate of 1,300,530 restricted stock units of the company to certain directors, officers, employees and consultants of the company. Forty-eight per cent of the RSUs vest on Feb. 6, 2027, 26 per cent on Feb. 6, 2028, and the remaining 26 per cent on Feb. 6, 2029. Each RSU entitles the holder to acquire one common share of the company upon vesting. All stock options and RSUs were granted in accordance with the company's omnibus plan, which became effective on June 2, 2022. The common shares underlying the stock options and RSUs set out above are subject to a statutory four-month-and-one-day hold period and such further restrictions as may apply under foreign securities laws. As directors of the company received an aggregate of 795,106 RSUs, the granting of RSUs represents a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The participation of the related parties of the company is exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(1) of MI 61-101, as neither the fair market value of the subject matter of the transaction, nor the consideration, exceed 25 per cent of the company's market capitalization. The company did not file a material change report related to the RSUs more than 21 days before the grant as required by MI 61-101 but believes that this shorter period is reasonable and necessary in the circumstances. 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 218 domestic locations. The company's Canadian bricks 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. In 2025, the company became the first North American cannabis operator to launch a bricks and mortar presence in Germany. The company also owns and operates multiple global e-commerce platform offering accessories and hemp-derived cannabidiol products. Medical cannabis distribution: Remexian is a leading German pharmaceutical company 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 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 Venture Exchange 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. We seek Safe Harbor.