TILRAY

Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today announced it has agreed with Worldpharma Biotech ("Worldpharma"), through its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. (“Tilray Portugal”), to export Good Manufacturing Processes (GMP) certified medical cannabis from Portugal to Spain. The shipment marks the first medical cannabis import into Spain by Worldpharma and the 17^th country to receive Tilray medical cannabis worldwide.

The Agencia Española de Medicamentos y Productos Sanitorios (AEMPS), Spain’s food and drug administration, has approved Worldpharma to import Tilray’s GMP-certified medical cannabis as raw material from its Portugal facility to Spain. With Tilray's pharmaceutical-grade cannabis, Worldpharma will develop medical cannabis products for clinical trials in Spanish Hospitals for diseases such as Alzheimer's, Parkinson’s disease, and skin inflammation.

Brendan Kennedy, Tilray’s Chief Executive Officer, said, “We’re incredibly honored to be the first cannabis company to be approved and to ship medical cannabis into Spain. As we continue to work with regulators around the world, we are grateful to partner with the AEMPS and established pharmaceutical leaders such as Worldpharma Biotech on the distribution of Tilray medical cannabis.”

Juan Jose Garcia Miquel, Founder of World Pharma Biotech, said, "We are very happy to initiate a cannabis biomass supply agreement with Tilray to supply our extraction and purification lab with quality GMP certified products that meet the highest of E.U. and Spanish Pharmacology Standards. We intend to work with the companies with the highest quality pharmaceutical standards to give doctors and patients total confidence. It's been impossible to reach this level of quality from other cannabis authorized companies in Spain.”

Sascha Mielcarek, Tilray’s General Manager for Europe, said, “We are very pleased to partner with Worldpharma. Tilray is once again establishing itself as a key player with solid expertise in the service of patient well-being. Throughout its supply chain, Tilray applies the highest medical standards that provide sustainable and safe access to pharmaceutical-grade medical cannabis for patients in need, paving the way for future medical cannabis standards of care.”

Tilray has a pioneering track record as a company committed to making GMP-certified, pharmaceutical-grade medical cannabis products available to patients in need worldwide and was the first to successfully export medical cannabis from North America and import medical cannabis products into the E.U. in 2016.

Tilray's E.U. Campus in Portugal is a multi-faceted production facility that includes research and quality control labs, packaging, and distribution sites for medical cannabis. It also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels throughout Germany and the E.U., which will serve as a means to allowing patients to access Tilray's GMP-certified finished medical cannabis.

About Tilray®

Tilray is a global pioneer in the research, cultivation, production, and distribution of cannabis and cannabinoids, currently serving tens of thousands of patients and consumers in 17 countries spanning five continents.

About WorldPharma Biotech

World Pharma Biotech was founded in 2014 in Valencia, Spain, focused on vegetal ingredients for nutraceuticals, cosmetics, and pharmaceutical industries. The company is located in the Scientific Park of the University of Valencia, a center of Spin-off and Start-up companies from Valencia University. The extraction and purification lab's primary focus is the manufacturing of Active Pharmaceutical Ingredients from Cannabis for the European Pharmaceutical and Dermo Cosmetic Industry.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions, and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future European market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance, or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements, and they are not guarantees of future results. Please see the heading "Risk Factors" in Tilray's Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on November 9, 2020, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.

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