Company: CGC
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001104659-25-070853
Chunk: 130

Company: Canopy Growth Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 130
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 retain employees and service providers. Effects of the Share Consolidation If the Share Consolidation is implemented, its principal effect will be to proportionately decrease the number of issued and outstanding Shares and Exchangeable Shares by a factor equal to the consolidation ratio selected by the Board. For illustrative purposes only, the following table sets forth, based on the number of Shares and Exchangeable Shares issued and outstanding as of the Record Date, the number of Shares and Exchangeable Shares that would be issued and outstanding (disregarding any resulting fractional Shares and Exchangeable Shares and subject to any issuances occurring after such date) following the implementation of the Share Consolidation, at various consolidation ratios: 92

TABLE OF CONTENTS

| ​ | ​ | Share Consolidation Ratio                                                                                     | ​ | ​ | ​ | Shares Outstanding Post-Share 
 Consolidation(1)              | ​ | ​ | ​ | Exchangeable Shares Outstanding 
 Post-Share Consolidation(2)     | ​ | ​ |
| ​ | ​ | one post-consolidation Share and Exchangeable Share for every 5 pre-consolidation Shares/Exchangeable Shares  | ​ | ​ | ​ | [•]                           | ​ | ​ | ​ | [•]                             | ​ | ​ |
| ​ | ​ | one post-consolidation Share and Exchangeable Share for every 15 pre-consolidation Shares/Exchangeable Shares | ​ | ​ | ​ | [•]                           | ​ | ​ | ​ | [•]                             | ​ | ​ |

Notes: (1) Based on [•] issued and outstanding Shares as of the Record Date. (2) Based on [26,261,474] issued and outstanding Exchangeable Shares as of the Record Date. The Company does not expect the Share Consolidation itself to have any economic effect on holders of Shares or securities convertible into or exercisable to acquire Shares, except to the extent the Share Consolidation will result in fractional Shares. See “ No Fractional Shares ” below. The Company will not proceed with the Share Consolidation if it will affect the listing of the Shares on the TSX or the Nasdaq Global Select Market. Voting rights and other rights of the holders of Shares prior to the implementation of the Share Consolidation will not be affected by the Share Consolidation, other than as a result of the creation and disposition of fractional Shares as described below. Effect on Non-Registered Shareholders Non-registered Shareholders holding Shares through an Intermediary should be aware that the Intermediary may