Financial Data and Key Metrics Changes - In Q1, net revenue increased by 49% to CAD 65.3 million from CAD 42.7 million in the same prior year period, primarily due to growth in the Canadian business, the integration of Motif, and higher international sales [16] - Adjusted gross profit for the quarter increased by 67% to CAD 23.9 million compared to CAD 14.3 million in Q1 last year, supported by higher yields and lower cultivation costs [16][17] - Adjusted EBITDA in Q1 was CAD 5.3 million, up 273% from CAD 1.4 million in the prior year period [19] - Net income for the quarter was CAD 20 million compared to a net loss of CAD 23 million in the same prior year period [19] Business Line Data and Key Metrics Changes - International sales for Q1 were CAD 5 million, up 51% over Q1 last year, despite a sequential decline due to higher-than-expected out-of-spec flower [16][12] - The company maintained the number one position in overall vapes with a 20.4% market share and moved to the number two position in overall pre-rolls at 7.7% [7][6] - In beverages, market share increased by 80 basis points year-over-year to 5.9%, while in concentrates, the company achieved a 15.5% category share [8][7] Market Data and Key Metrics Changes - In Canada, the company held the number one market share position with 11.3% total share in Q1 and 11.7% over the past 12 months [5] - Market share in Quebec improved to the number three position with 9.9% for the quarter, driven by successful vape launches [6] - The company outperformed in several provinces, holding 33.1% market share in New Brunswick and 21.9% in Newfoundland [7] Company Strategy and Development Direction - The company aims to focus on operational execution, cost base improvement, and margin enhancement in the short term, while pursuing international expansion in the long term [28] - The company is optimistic about the long-term growth of the cannabis industry and its ability to compete and lead as growth continues [5] - New product innovations, including SHRED Soda and SHRED Shots, are expected to enhance market competitiveness [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of the BC labor strike and increased competition in vapes and pre-rolls but expressed confidence in recovering sales and maintaining adjusted gross margins [15][19] - The company is addressing temporary issues with international flower specifications and expects to return to normal operating parameters [12][34] - Management remains confident in delivering against full-year guidance of revenue exceeding CAD 300 million, supported by improving fundamentals and expanding margins [23] Other Important Information - The company harvested over 28,000 kilograms of flower in Q1, representing a 43% year-over-year increase [10] - The company is in the final phases of ERP implementation, with expectations for associated costs to roll off after the second quarter [18] - The company is preparing for EU GMP certification and is working closely with regulators to address feedback received [46] Q&A Session Summary Question: Near-term opportunities and long-term initiatives - Management emphasized the focus on operational execution and cost base improvement in the short term, while balancing future growth opportunities in international markets [27][28] Question: Insights on international volumes and flower issues - Management noted that stringent international flower requirements led to temporary issues, with an estimated CAD 3.5 million impact on international revenue [34][35] Question: Recovery in the Canadian market - Management confirmed that sales in BC have returned to traditional distribution levels and expressed confidence in addressing increased competition with new product launches [41][42] Question: EU GMP certification timeline - Management stated that they are working closely with regulators to resolve questions and are aiming for the fastest timeline possible, though no specific date can be provided [46] Question: Route to market in Europe - Management indicated a mixed approach for market entry, utilizing both direct sales and partnerships depending on regulations and market conditions [50][51] Question: U.S. market strategy and regulatory environment - Management highlighted that the U.S. market is currently a minor part of the business and emphasized a cautious approach to investment until regulatory clarity is achieved [54][55]

Core Viewpoint - TerrAscend Corp. will host a conference call to discuss its financial results for the fourth quarter and full year ended December 31, 2025, on March 12, 2026, at 5:00 p.m. Eastern Time [1]. Group 1: Conference Call Details - The conference call is scheduled for Thursday, March 12, 2026, at 5:00 p.m. Eastern Time [2]. - A webcast of the conference call will be available at the provided link [2]. - The dial-in number for the call is 1-888-510-2154, with a replay available until midnight Eastern Time on March 26, 2026 [2]. Group 2: Company Overview - TerrAscend is a leading cannabis company listed on the TSX, with operations across North America, including states like Pennsylvania, New Jersey, Maryland, Ohio, and California [3]. - The company operates retail locations such as The Apothecarium and has scaled cultivation, processing, and manufacturing facilities [3]. - TerrAscend offers a diverse product selection for both medical and legal adult-use markets, owning or licensing several brands including Cookies, Ilera Healthcare, and Wana [3].

Investor Presentation December 31, 2025 CAUTIONARY STATEMENT This document is current as of December 31, 2025, except where otherwise stated. The information contained in this presentation is provided by Organigram Global Inc. ("Organigram" or the "Company") for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Organigram or other financial products. No part of this presentation shall form the basis or be relied ...

Core Viewpoint - Decibel Cannabis Company has successfully closed a $61 million credit facility with ATB Financial, which will enhance its financial position and support future growth initiatives [1]. Financing Highlights - The financing includes a $40 million First Lien Term Facility, a $10 million Revolving First Lien Credit Facility, and an $11 million Second Lien Term Facility, collectively aimed at reducing 2026 payment obligations by $5 million and extending debt maturities to February 2030 [1]. - The First Lien Term Facility replaces a previous facility due in January 2027, allowing for normal course principal repayments and a bullet repayment at maturity [1]. - The Revolving First Lien Credit Facility provides immediate access to $3 million, with additional funds available upon meeting certain conditions [1]. Financial Position - The company is now free cash flow positive and has no material near-term debt maturities, positioning it well for continued leadership in the Canadian cannabis market and international expansion [1]. - The return on investment from the AgMedica acquisition exceeds 50% annualized, indicating strong potential for further growth and value creation [1]. Strategic Goals - The financing will enable Decibel to pursue corporate development initiatives and strengthen its balance sheet, allowing for further opportunities to scale and become a leading global cannabis company [1]. - The company operates multiple facilities across Canada and is beginning to extend its reach into international markets [1].

Core Insights - Organigram Global Inc. reported strong year-over-year growth in Q1 Fiscal 2026, driven by Canadian market leadership and increasing international sales, alongside improved gross margins [1][2] Financial Performance - Net revenue increased by 49% to $63.5 million from $42.7 million in Q1 Fiscal 2025, primarily due to contributions from the Motif Labs acquisition and higher international sales [1][2] - Adjusted gross margin rose to $23.9 million, or 38% of net revenue, compared to $14.3 million, or 33%, in Q1 Fiscal 2025, attributed to operational efficiencies and higher flower yields [1][2] - Adjusted EBITDA reached $5.3 million, a 273% increase year-over-year, driven by higher recreational and international revenue [1][2] Operational Highlights - The company harvested 28,645 kilograms, a 43% increase compared to Q1 Fiscal 2025, achieved through nutrient and environmental enhancements [1] - Organigram launched its Collective Project and Fetch brands into Illinois and Wisconsin, expanding its U.S. retail footprint to 11 states [1] - The company achieved a proprietary genetic screening breakthrough for powdery mildew resistance, significantly reducing identification time [1] Market Position - Organigram holds the 1 market share in Canada for vapes, milled flower, and concentrates, and ranks 2 in pre-rolls and 3 in edibles and dried flower [1] - International sales reached $5.0 million, a 51% increase year-over-year, with expectations for continued growth [1][2] Balance Sheet and Liquidity - As of December 31, 2025, the company had total cash of $63.0 million, with total assets amounting to $530.7 million [2] - Total liabilities decreased by 24% to $161.2 million, while shareholders' equity increased by 6% to $369.5 million [2]

Core Insights - Aurora Cannabis Inc. reported a net revenue increase of C$7 million to C$94.2 million for the quarter, driven by the global medical cannabis and plant propagation segments [2] - The company is focusing on the higher-margin medical cannabis business, with revenue from this segment rising 12% to C$76.2 million, representing 81% of total revenue [2][4] - Adjusted gross margin improved to 62%, while adjusted EBITDA decreased by 5% year over year to C$18.5 million due to higher operating expenses [3] Financial Performance - The medical cannabis segment's growth was led by a 17% increase in international markets, particularly in Germany and Poland [2] - Management confirmed full year 2026 adjusted EBITDA guidance of C$52–57 million, despite a cautious outlook for the fourth quarter [3] - ACB's balance sheet is strong, with C$154 million in cash and no debt, and the company has filed for an at-the-market offering of up to C$100 million for additional capital flexibility [4] Strategic Focus - ACB is divesting from the less-profitable plant propagation business and exiting select Canadian consumer cannabis markets to focus on international medical opportunities [4] - Management anticipates fiscal year 2026 to be a record revenue year, with continued growth and margin expansion expected through fiscal year 2028 [5] - Despite top-line growth and improved margins, ACB's valuation remains discounted compared to peers and its historical performance, indicating potential for a rerating in 2026 [5]

Core Insights - Canopy Growth Corporation (CGC) reported financial results that were in line with expectations, showing strong revenues but an overall net loss [1] Financial Performance - The company experienced strong revenue generation, although it still reported a net loss [1] Strategic Developments - Canopy Growth is set to acquire MTL Cannabis, which is expected to enhance both revenues and overall company valuation [1]

Core Insights - Canopy Growth Corporation (CGC) reported financial results that were in line with expectations, showing strong revenues but an overall net loss [1] Financial Performance - The company experienced strong revenue generation, although it still reported a net loss [1] Strategic Developments - Canopy Growth is set to acquire MTL Cannabis, which is expected to enhance both revenues and overall company valuation [1]

Core Viewpoint - Curaleaf Holdings, Inc. has announced a private placement of US$500 million in senior secured notes, which will be used to refinance existing debt and support global growth initiatives [1][2][3] Group 1: Offering Details - The Offering consists of 11.5% senior secured notes due February 1, 2029, issued at 100% of face value [2] - Proceeds will refinance US$475 million of existing senior secured notes due December 15, 2026, with US$457 million currently outstanding [1] - The Offering is expected to close around February 18, 2026, subject to customary closing requirements [2] Group 2: Investor Demand and Market Position - The Offering has been oversubscribed, marking it as the largest note offering in the U.S. cannabis industry to date [3] - Ten first-time cannabis lenders are participating, indicating strong institutional investor confidence in Curaleaf [3] - The transaction is expected to strengthen the company's balance sheet and extend maturities to 2029, providing flexibility for growth opportunities [3] Group 3: Company Overview - Curaleaf is a leading international provider of consumer cannabis products, known for quality and reliability [6] - The company operates across all stages of the supply chain and has a strong distribution network in Europe, Canada, and Australasia [6] - Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF [6]

Core Insights - The cannabis industry, particularly in Canada and the U.S., has seen significant growth since legalization, but companies like Canopy Growth Corp. are struggling despite rising cannabis use [1][2]. Company Overview - Canopy Growth Corp. had a market cap peak of nearly $18 billion from 2017 to 2019 but has since faced disastrous investment results, with its current market cap at $372 million [2][3]. - The stock price has dramatically decreased, currently at $1.11, down 99.8% from its all-time high [3][11]. Business Strategy and Execution - Canopy Growth's aggressive expansion into the U.S. and Europe, along with diversification into cannabis-related products, has been criticized as overly ambitious [4]. - The company made significant missteps, including misreading the cannabis market and rushing its expansion, leading to reliance on stock and debt issuance rather than funding through profits [5]. Financial Performance - Canopy Growth continues to lose money, with a share count increase of over 3,700%, resulting in substantial stock dilution [6]. - The company recently acquired MTL Cannabis for $125 million, despite its inability to afford such acquisitions, raising concerns about its financial health [8]. Industry Context - The legalized cannabis market has proven challenging, with many cannabis stocks underperforming and several companies facing heavy losses or going bankrupt [10]. - The overall sentiment suggests that not all growing industries guarantee investment success, as evidenced by Canopy Growth's struggles [10].