| | Canopy Growth Corporation Files Amended and Restated Third Quarter MD&A February 20, 2019 SMITHS FALLS, ON– Canopy Growth Corporation (TSX:WEED) (NYSE: CGC) (“Canopy Growth” or “the Company) filed its Amended and Restated Management Discussion and Analysis for the three and nine months ended December 31, 2018 (“Amended MD&A”) to correct the Adjusted EBITDA1 in the original MD&A for the nine months ended December 31, 2018 filed on February 14, 2019 (the “Original MD&A”), as follows. The correction of the Adjusted EBITDA loss for the nine months ended December 31, 2018 from $69,006,000 to $155,154,000. The correction was made due to a formula error in the spreadsheet supporting the year to date Adjusted EBITDA loss calculation. The Adjusted EBITDA loss for the three months ended as December 31, 2018 was correct as reported, as were all prior quarters as released. There are no changes required to Canopy’s unaudited condensed interim consolidated financial statements for the three and nine months ended December 31, 2018 (filed on February 14, 2019). Other than as expressly set forth in the Amended MD&A, the Amended MD&A does not purport to update or restate the information in the Original MD&A or reflect any events that occurred after the date of the filing of the Original MD&A other than changes to the sections entitled Results of Operations, Third Quarter Review, and Adjusted EBITDA(Non-GAAP Measure). Note 1:The Adjusted EBITDA is anon-GAAP financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Adjusted EBITDA is reconciled and explained in the Amended and Restated MD&A under “Adjusted EBITDA(Non-GAAP Measure) About Canopy Growth Corporation Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Canopy Growth offers medically approved vaporizers through the Company’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. The Company has operations in over a dozen countries across five continents. The Company is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and through its wholly owned subsidiary, Canopy Health Innovations (“Canopy Health”), has devoted millions of dollars toward cutting edge, commercializable research and IP development. Canopy Growth works with the Beckley Foundation and has launched Beckley Canopy Therapeutics to research and develop clinically validated cannabis-based medicines, with a strong focus on intellectual property protection. Canopy Growth acquired assets of leading hemp research company, ebbu, Inc. (“ebbu”). Intellectual Property (“IP”) and R&D advancements achieved by ebbu’s team apply directly to Canopy Growth’s hemp andTHC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities. Through partly owned subsidiary Canopy Rivers Corporation, the |
