TLRY Tilray Brands Inc

SweetWater Brewing Company, LLC ("SweetWater"), a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), Atlanta’s craft beer trailblazer and the 10th largest craft brewer in the U.S., launches a new crisp lager to its year-round craft beer lineup. The new SweetWater Lager, a clean-bodied beer elevated with spicy floral hop notes, is now available on draft and will be available in 12-packs of 12-ounce cans in select retailers across the U.S. beginning March 2023.

SweetWater’s new Lager (4.5% alcohol by volume (ABV)) is a simple, easy-drinking beer, brewed with a 100% pilsner grain bill to create a crisp, refreshing flavor with low bitterness. Crystal and Hallertau hops distinguish the taste with mild notes of spicy floral. As demand for lagers continues to grow, SweetWater adds this approachable, low-ABV beer, to its quiver of heady beers like 420 Pale Ale, H.A.Z.Y. IPA, and Imperial IPA, to quench beer drinkers’ thirst whenever the occasion calls for something lighter.

“Crisp. Clean. Crushable. SweetWater’s new Lager is an easy thirst-quenching beer with a little SweetWater twist on the brew with some added hops that keep this beer tasting crisp and refreshing,” says Ty Gilmore. President, U.S. Beer at Tilray Brands. “This SweetWater Lager is the perfect go-to beer when you’re looking to crack a few cold ones after a long day — fishing, working, boating, and you name it. With the addition of its new Lager, SweetWater now has a beer for everyone, and these sure go down easy.”

Lager is now flowing at Sweetwater’s flagship taprooms in Atlanta, Georgia and Fort Collins, Colorado and taps across Georgia, Alabama, Florida, South Carolina, Pennsylvania, and Virginia. Beginning March 2023, SweetWater’s new Lager will be available in cans at select retailers across the U.S., including Kroger, Lowes Food, and Ingles.

About SweetWater Brewing:

One of Atlanta’s original craft breweries, founded 26 years ago, SweetWater Brewing is now the 10th largest craft brewery in the U.S. With two flagship breweries in Atlanta, Georgia, and Fort Collins, Colorado, SweetWater’s award-winning craft beers and ready-to-drink cocktails are available coast to coast and in more states than ever before. Inspired by the outdoors, SweetWater is a passionate advocate for healthy waterways and conservation initiatives. Through its annual Save Our Water campaign, SweetWater continues to raise funds to support nonprofit organizations fighting for clean water and habitat conservation, including the Waterkeeper Alliance, Bonefish & Tarpon Trust, and Trout Unlimited.

SweetWater Brewery is a subsidiary of Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life.

For further information about SweetWater Brewing Company, please visit www.sweetwaterbrew.com and follow @SweetWaterBrew.

To learn about Tilray Brands, Inc. visit www.tilray.com or follow along @Tilray.

Forward-Looking Statements

Certain 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. 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.

SweetWater Brewing Company Media:

Chris Hongchristopher.hong@rygr.us(970) 924-0704 ext. 2103

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/265281c0-bfac-4660-9f95-91dedd0a9030