Tilray® Announces Successful Medical Cannabis Harvest in Portugal and Provides Update on Rapidly Expanding European Operations

Tilray, Inc. (“Tilray” or “the Company”) (NASDAQ:TLRY), a global leader
in cannabis research, cultivation, production and distribution, today
announced that its wholly-owned subsidiary Tilray Portugal Unipessoal
Lda. (“Tilray Portugal”) has completed a successful harvest of medical
cannabis at the Company’s European Union (EU) Campus in Portugal.

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Tilray’s EU campus in Portugal successfully harvests medical cannabis (Photo: Business Wire)

Tilray’s EU Campus in Portugal is a multi-faceted production facility
that includes indoor, outdoor and greenhouse cultivation sites, as well
as research labs, processing, packaging and distribution sites for
medical cannabis and cannabinoid-derived medical products. To date,
Tilray has invested approximately €20 million in the facility, which
totals nearly 250,000 square-feet with additional room to expand.
Tilray’s EU Campus also serves as a hub supporting Tilray’s clinical
research and product development efforts across Europe. Tilray’s EU
Campus currently employs 100 people, and that number is expected to
double by the end of 2019, with production ramping up and multiple
harvests anticipated in the coming months.

“Our harvest in Portugal is an exciting milestone for the company as we
continue to build our multinational supply chain of high-quality medical
cannabis,” said Sascha Mielcarek, Managing Director, Europe. “We look
forward to utilizing the capacity of Tilray Portugal to supply the
medical cannabis market in Europe as we expand our operations.”

Tilray was the first licensed medical cannabis producer to successfully
import medical cannabis products into the EU and the first licensed
medical cannabis producer in North America to obtain Good Manufacturing
Practice (GMP) certification in accordance with the European Medicines
Agency’s (EMA) standards. Tilray has established sales and distribution
arrangements to distribute medical cannabis through major pharmaceutical
distribution channels throughout Germany and the European Union. The
Company has also formed a global alliance with Sandoz AG, a worldwide
leader in generic pharmaceuticals and biosimilars and a part of Novartis
group, to increase availability of high quality medical cannabis
products around the world in jurisdictions where regulations permit.

In addition to its EU Campus in Portugal, Tilray currently operates
multiple state-of-the-art production and processing facilities in
Canada. Tilray looks forward to hosting an official ribbon-cutting event
at its EU Campus in Portugal later this spring.

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 12 countries spanning 5
continents.

Cautionary note regarding 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 and include
statements relating to Tilray’s global growth strategy. 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 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. Forward-looking statements involve
significant risks, assumptions, uncertainties and other factors that may
cause actual future results or anticipated events to differ materially
from those expressed or implied in any forward-looking statements.
Please see the heading “Risk Factors” in Tilray’s Quarterly Report on
Form 10-Q, which was filed with the Securities and Exchange Commission
and Canadian securities regulators on November 14, 2018, 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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