Improved commercial and operational execution results in net sales of $ 153 million, up 23% from Q3 2020

Q3 2021 Canada’s leisure market share increased 30 basis points from Q2 2021 based on our proprietary market share tracker

Offers mid-term financial goals, including expectations to achieve profitability in the second half of fiscal 2022 while continuing to invest behind Consumer Insights, R&D and US Market

With renewed optimism, Canopy has further developed the US Growth strategy before a possible cannabis reform

SMITHS FALLS, ON, Feb Sep. 9, 2021 / PRNewswire / – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announced its financial results for March 31, 2020 Fiscal year 2021 third quarter ended December 31, 2020 All financial information in this news release is presented in millions of Canadian dollars unless otherwise stated

1 Adjusted Gross Margin Percentage is a non-GAAP measure and excludes restructuring charges for the third quarter of 2021, which are included in $ 15 million of manufacturing costs

“We achieved another quarter of record sales and growth across all businesses driven by better execution of retail and supply chains,” said David Klein, CEO. “We are building and accelerating a track record in our core markets at the same time our US. Growth strategy with the momentum behind the promising cannabis reform in the USAS”

“We are working against our cost savings program as several initiatives have been completed and more are underway to build a leaner and more agile business,” added Mike Lee, CFO, “These cost savings, as well as our revenue growth and continued cost discipline, bring Canopy firmly on the way to achieving profitability in fiscal 2022 Further improvements are also expected “

With our new strategy, complete organizational changes and ongoing operational cost savings program, the company is able to set the following medium-term financial goals:

1 Reflects excise taxes of $ 16 million and other sales adjustments of $ 38 million for the 3rd Quarter 2021 (3rd Quarter 2020 – $ 105 million and $ 53 million)

2 Cannabis 2 0 items include cannabis-infused chocolates, cannabis-infused drinks, and cannabis vape products (including power sources such as rechargeable and compact batteries, ready-to-use vape pens, and cartridges / vape pads)

3 Other revenue adjustments represent the Company’s determination of returns and price adjustments and relate to the Canadian business-to-business leisure channel

The financial results presented in this press release for the third quarter of fiscal year 2021 and the third quarter of fiscal year 2020 have been prepared in accordance with US GAAP

Calculated using an in-house proprietary market share tool using point of sale data provided by a third party, government agencies and our own retail stores across the country Tool collects POS data from an average of 39% of stores in Alberta, UK -Colombia, Saskatchewan, Manitoba and Newfoundland & Labrador and POS data from 100% of the stores in New Brunswick, Nova Scotia and Prince Edward Island as depletion and e-commerce sales data from the OCS

The company will be launched on Sept. Host a conference call and audio webcast with David Klein, CEO, and Mike Lee, CFO, on February 10, 2021 at 10:00 a.m. Eastern Time

A repetition can be done via webcast until 2359 p.m. ET on Dec. May 2021 at the following address: https: // ProducereditionWebcastscom / startherejsp? ei = 1418491&tp_key = 44498b6183

Adjusted EBITDA is a non-GAAP measure used by management and is not defined by S. GAAP and may not be comparable to similar metrics from other companies Adjusted EBITDA is calculated as reported net loss, adjusted for income tax (expense); other income (expenses), net; Loss from participations using the equity method; share-based compensation expense; Depreciation; Asset impairment and restructuring costs; expected credit losses on financial assets and associated charges; Restructuring costs included in the cost of goods sold; and fees related to the business combination inventory run that has been further adjusted to eliminate acquisition-related costs The Adjusted EBITDA reconciliation is presented in this press release and explained in the company’s quarterly report on Form 10-Q, which is filed with the SEC

Free Cash Flow is a non-GAAP measure used by management that is not defined by US GAAP and may not be comparable to similar metrics from other companies.This metric is calculated from cash flow from operating activities minus purchases and deposits of property, plant and equipment.The free cash flow reconciliation is presented in this press release and explained in the company’s quarterly report on Form 10-Q, which Filing with the SEC is

Adjusted Gross Margin and Adjusted Gross Margin Percentage are non-GAAP measures used by management and are not defined by S. GAAP and may not be comparable to similar metrics from other companies Adjusted Gross Margin is calculated as gross margin excluding restructuring charges, which is included in Cost of Goods Sold Percentage Adjusted Gross Margin is calculated as Adjusted Gross Margin divided by Net Sales Reconciliation of Adjusted Gross Margin and the Adjusted Gross Margin Percentage is featured in this press release

Canopy Growth (TSX: WEED, NASDAQ: CGC) is a leading global diversified cannabis and cannabinoid consumer goods company driven by a passion for improving lives, ending the ban and empowering communities by it unleashes the full potential of cannabis We leverage the insights and innovations of consumers and offer product variants in high-quality dried flower, oil, capsule, infusion beverage, edible and current formats as well as vaporizer devices from Canopy Growth and the industry leader Storz & Bickel Our global medical brand Spectrum Therapeutics sells a range of full-spectrum products using their color-coded classification system and is a market leader in both Canada and Germany.We reach our adult consumers and have built a loyal following by using our award-winning Tweed and Tokyo Smoke banners on qu Focusing on quality products and meaningful customer relationships Canopy Growth has entered consumer health and wellness in key markets such as Canada, the US and Europe through BioSteel Sports Nutrition and This Works Skin and Sleep Solutions and has launched additional federally approved CBD products in the US through our CBD brands First & Free and Martha Stewart.Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information, please visit www.canopy

This press release contains “forward-looking statements” within the meaning of applicable securities laws that involve certain known and unknown risks and uncertainties. Forward-looking statements project or describe our future operations, business plans, business and investment strategies, and the performance of our investments Generally identified by the use of terms and expressions such as “intended”, “goal”, “strategy”, “estimate”, “expectation”, “project”, “projections”, “forecast” Plans, “seeks”, “anticipated”, “potential”, “proposed”, “will”, “should”, “could”, “would”, “could”, “likely”, “designed”, “foreseeable” future , “believe,” “planned,” and other similar expressions Our actual results could differ materially from those expected. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement is made

Some of the forward-looking statements contained herein regarding the industries in which we conduct our business are based on estimates made by us using data from publicly available government sources, market research, industry analysis, and assumptions based on data and knowledge These were the industries we believe to be reasonable. Although this data generally suggests relative market positions, market shares, and performance characteristics, it is inherently inaccurate.The industries in which we do our business involve risks and uncertainties that may vary due to various factors Factors that are described below can change

The forward-looking statements contained herein are based on certain material assumptions that have been used in order to reach a conclusion, forecast or forecast, including: (i) management’s perception of historical trends, current conditions and expected future developments; (ii) our ability to generate cash flow from operating activities; (iii) general economic, financial, regulatory and political conditions in which we operate; (iv) the manufacturing and manufacturing capabilities and production of our facilities and joint ventures, strategic alliances and holdings; (v) consumer interest in our products; (vi) competition; (vii) expected and unexpected costs; (viii) government regulation of our activities and products, including but not limited to taxation and environmental protection; (ix) the timely receipt of all required regulatory approvals, permits, consents, permits and / or licenses; * our ability to obtain qualified personnel, equipment and services in a timely and inexpensive manner; (xi) our ability to conduct operations in a safe, efficient, and effective manner; (xii) our ability to realize anticipated benefits, synergies, or generate revenue, profit, or value from our recent acquisitions into our existing business; (xiii) our ability to continue operating in light of the COVID-19 pandemic and the impact the pandemic has on the demand for and sale of our products and our distribution channels; and (xiv) other considerations that management deems appropriate in the circumstances. Although our management believes these assumptions are reasonable based on the information currently available to management, there can be no guarantee that these expectations will prove to be correct / p>

Forward-looking statements by their nature are subject to risks and uncertainties, general or specific, that could cause expectations, forecasts, predictions, projections or conclusions to prove incorrect, may not be accurate and that goals, strategic objectives and priorities will not be achieved in a variety of ways Factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking statements in this press release and other reports that we may submit to the Securities and Exchange Commission (the “SEC “) and other regulatory agencies created by our directors, officers, other employees and others authorized to speak on our behalf. These factors include, without limitation, the risk that the COVID-19 pandemic will affect our operations and.” the interferes with our suppliers and sales channels and adversely affects the use of our products Consumer demand for cannabis and US. Hemp products; that cost savings and other synergies from the CBI Group’s investments may not be fully realized or may take longer than expected; future level of sales; our ability to cope with disruptions in credit markets or changes in our credit ratings; future amount of capital, environmental or maintenance expenditure, general and administrative as well as other expenditure; the success or timing of any ongoing or anticipated capital or maintenance projects; Business strategies, growth opportunities and expected investments; the adequacy of our capital resources and liquidity including, but not limited to, the availability of sufficient cash flow to execute our business plan (either within the expected timeframe or at all); the potential impact of legal or other litigation on our business, financial condition, results of operations and cash flows; Volatility and / or deterioration in general economic, market, industrial or business conditions; Compliance with applicable environmental, economic, health and safety, energy and other guidelines and regulations and, in particular, health concerns regarding vaping and consuming cannabis and US. Hemp products in steamers; the anticipated effects of actions by third parties such as competitors, activist investors, or federal, state, provincial, regional or local regulators, self-regulatory organizations, plaintiffs in litigation, or individuals at risk of litigation; Changes in regulatory requirements related to our business and products; and the factors identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31 Fiscal year ended June 31, 2020 with the SEC March 28, 2020 Readers are cautioned to carefully consider these and other factors, uncertainties and potential events and not to place undue reliance on any forward-looking statements

Forward-looking statements are intended to assist the reader in understanding our financial performance, financial condition and cash flows at and for certain periods and to present information about management’s current expectations and plans for the future, and the reader is cautioned that the forward-looking statements may not be suitable for any other purpose. Although we believe that the assumptions and expectations contained in the forward-looking statements are reasonable based on the information currently available to management, there is no guarantee that they will These assumptions and expectations prove to be correct. Forward-looking statements are made as of the date they are made and are based on the beliefs, estimates, expectations and opinions of management at the time. We assume no obligation to change forward-looking statements based on new information To update or revise any future events or results, estimates or opinions, or for any other reason, or to explain material differences between actual events below and such forward-looking statements, except as required by law. The forward-looking statements in this press release and other reports we may submit Filing or transmitting to the SEC and other regulatory agencies and submitted by our directors, officers, other employees, and others empowered to speak on our behalf are expressly qualified in their entirety by these cautionary statements

Canopy Growth Corporation

World News – CA – Canopy Growth reports financial results for the third quarter of fiscal 2021