SweetWater Brewing Company, LLC ("SweetWater"), a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), has announced its landmark expansion across the state of California with distribution partners, Reyes Beer Division, tying together the continued westward expansion of the SweetWater brand with the opening of SweetWater Colorado Brewing Company, LLC in Fort Collins, Colorado, and the recent acquisition of San Diego beer brands, Alpine Beer Company and Green Flash Brewing Company.

With this expansion, the nation’s 11th largest craft brewer will now be available for purchase throughout the state at local restaurants, bars, grocery chains, liquor stores and other retail establishments either on draft or in cans. As SweetWater hits its 25th anniversary this year, this expansion further emphasizes the continued growth SweetWater has achieved, with California now becoming the largest state in their brand portfolio.

“Having been born and raised on the West Coast, twenty-five years ago I had the fantastic opportunity to bring a piece of home with me to the East Coast through a slew of SweetWater’s West Coast-style beers over the years,” said Freddy Bensch, co-founder and CEO of SweetWater. “I am beyond stoked to have found our way across the U.S. to California, our OG stomping grounds, where we will continue to leverage the 420 lifestyle and SweetWater brand in its truest and purest form.”

Through Reyes Beer Division, the largest beer distributor in the United States, SweetWater’s award-winning lineup of year-round, seasonal, and specialty beers are now available across California.

“We are excited to work with SweetWater Brewing Company as they begin this new venture in California,” said Tom Reyes, President of Reyes Beer Division West. “We’ve seen both immense growth and success with craft beer in the California market, and we are pleased SweetWater chose our family to be their distribution partner as they expand their reach.”

“As we get set to celebrate our 25th Anniversary this month, we’re incredibly proud of our continued expansion as we head west and break new ground, while maintaining our commitment to quality,” said Zack Koenigsberg, Business Development Manager. “Launching the great craft beer state of California is a huge milestone and will continue to pave the way for future opportunities to bring our brand to a wide-variety of markets across the US.”

About SweetWater Brewing Company:SweetWater Brewing Company is an Atlanta-based craft brewery living by the motto “Don’t Float the Mainstream!” In 2020, SweetWater was acquired by Aphria Inc., now Tilray Brands, Inc. (Nasdaq: TLRY and TSX: TLRY) (“Tilray”) a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life. SweetWater Brewing Company is celebrating 25 years of heady beers in 2022 and is the 11th largest craft brewery in the nation, according to Brewers Association. The award-winning lineup of year-round beers includes 420 Extra Pale Ale, H.A.Z.Y. IPA, 420 Imperial I.P.A., H.A.Z.Y. 710 Pale Ale, G13 IPA, High Light Lo-Cal Easy IPA, Goin' Coastal IPA, Broken Coast Lager, SweetWater Oasis Premium Hard Seltzer, Golden Isles Hard Iced Tea, and SweetWater RIFF RTD cocktails. Additionally, seasonal releases offer palate-pleasing variety, along with an experimental, one-time-only Dank Tank series, 420 Strain Series, and progressive barrel-aged styles in The Woodlands Project series.

SweetWater is passionate about protecting natural resources and habitats and is recognized for its contributions to environmental initiatives throughout its distribution footprint. Supporting the conservation of some of the nation’s most threatened rivers, streams and coastlines is a cause near and dear to the brewery, as clean water is also vital to the creation of their tasty brews.

SweetWater beverages are crafted at two locations, the flagship SweetWater brewery and taphouse at 195 Ottley Drive in the heart of Atlanta, and a second location now open in Fort Collins, Colorado at 1020 E Lincoln Ave. For more information about SweetWater Brewing Company, please visit www.sweetwaterbrew.com, follow SweetWater on Twitter/Instagram @sweetwaterbrew, and become a fan at facebook.com/sweetwaterbrew.

Forward-Looking StatementsCertain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the expansion of product distribution, including across California. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Media Contact:SweetWater Public Relations Sara Rozyckipr@sweetwaterbrew.com

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