High Tide looks back at milestones from 2025

Mr. Raj Grover reports HIGH TIDE RECAPS KEY MILESTONES OF 2025 High Tide Inc. has reflected on its key milestones achieved in 2025, a year in which the company continued to deliver strong results while executing against its publicly stated strategic and operational objectives. From surpassing 200 stores and more than two million Canadian Cabana Club members to officially entering the German medical cannabis market, the company consistently executed against its strategic priorities while strengthening its operations and financial position. "Two thousand twenty-five was a truly transformational year for High Tide as we evolved from a domestic market leader into a global cannabis company. Achieving strong growth while remaining free cash flow positive is rare in any retail category, and it reflects the strength of our operating model, disciplined execution and the dedication of our team. Growing from a single store in 2018 to becoming one of the most recognizable cannabis brands with over 200 Canna Cabana locations today is something we are incredibly proud of," said Raj Grover, founder and chief executive officer of High Tide. "With over $2-billion in cumulative sales since the legalization of cannabis in Canada and strong operations across multiple jurisdictions, we believe the opportunity ahead of us is substantial. Our early momentum in Germany underscores the potential to capture meaningful market share in large international markets while the strength of the Canna Cabana brand positions us well for future expansion, including into the United States. As we look ahead to 2026, our focus remains on further strengthening our brand, expanding our global footprint and delivering long-term value for shareholders," added Mr. Grover. High Tide's 2025 highlights: Entered the German medical cannabis market through the company's acquisition of a majority stake in Remexian Pharma GmbH, becoming one of the largest importers and distributors of medical cannabis in Germany; As per the company's last reported quarter, annualized revenue run-rate was $600-million before any contributions from Remexian; Driven by strong year-over-year same-store sales increases of 7.4 per cent in the third fiscal quarter of 2025, the company ended the year on an annualized adjusted EBITDA run-rate of over $42-million; Realized annualized retail sales per square foot of $1,735 across the Canna Cabana store network during the third fiscal quarter of 2025, higher than many best-in-class retailers; Surpassed 2.4 million Cabana Club members and 139,000 Elite members in Canada as of today, solidifying its position as the largest and most robust bricks and mortar cannabis loyalty program globally; The company retained its position as the leader in the retail cannabis market with a 12-per-cent share across the five provinces in which the company has a presence; Added 27 new Canna Cabana locations in Canada in 2025, reaching the higher end of the company's previously communicated goal of opening 20 to 30 locations in calendar 2025; At 218 stores and growing, Canna Cabana remains the largest cannabis retail chain in Canada and the most recognizable cannabis brand in the country; The company continued to develop its white-label product portfolio, having sold 21 unique Queen of Bud cannabis SKUs and 29 unique Queen of Bud accessory SKUs in the Canna Cabana store network; Made the Report on Business annual ranking of Canada's top-growing companies for the fifth consecutive year; The company was recognized as a top-50 company by the TSX Venture Exchange for the second consecutive year. 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.