Company: CGC
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001104659-25-070853
Chunk: 62

Company: Canopy Growth Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 62
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 absolute Adjusted EBITDA objectives. For each of the Relative TSR and Adjusted EBITDA metric, performance is measured using an “umbrella” approach, whereby both annual performance (20% weighting per year) and three-year cumulative performance (40% weighting) are measured independently to determine overall PSU vesting at the end of the three-year performance period.

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TABLE OF CONTENTS The following table sets forth the cannabis industry peers against which Canopy Growth’s Relative TSR is measured for the purposes of the Fiscal 2023 PSU awards. Also outlined below is the assessment framework used to measure Relative TSR performance.

| ​ | ​ | Relative TSR Peers(1)    | ​ | ​ |
| ​ | ​ | Curaleaf Holdings        | ​ | ​ |
| ​ | ​ | Green Thumb Industries   | ​ | ​ |
| ​ | ​ | Tilray                   | ​ | ​ |
| ​ | ​ | Cronos Group             | ​ | ​ |
| ​ | ​ | Sundial Growers          | ​ | ​ |
| ​ | ​ | Aurora Cannabis          | ​ | ​ |
| ​ | ​ | OrganiGram Holdings      | ​ | ​ |
| ​ | ​ | Charlotte’s Web Holdings | ​ | ​ |

| ​ | ​ | Percentile vs. Relative TSR Peers            | ​ | ​ | ​ | PerformanceMultiplier(1) | ​ | ​ |
| ​ | ​ | Greater than or equal to the 75th percentile | ​ | ​ | ​ | 1.5x                     | ​ | ​ |
| ​ | ​ | 50th percentile                              | ​ | ​ | ​ | 1x                       | ​ | ​ |
| ​ | ​ | Less than or equal to the 25th percentile    | ​ | ​ | ​ | 0.5x                     | ​ | ​ |

(1) Interpolated on a linear basis in between

(1) Hexo Corporation and The Valens Company, which we formerly included among our Relative TSR Peers, have been acquired by Tilray Inc. and Sundial Growers Inc., respectively, and therefore have been removed from the Relative TSR analysis. PSU Metric Details and Certification Results PSUs were awarded to eligible NEOs during Fiscal 2023. No new PSUs were awarded during Fiscal 2024 or Fiscal 2025 and will not be part of the Fiscal 2026 LTIP. The below results reflect the achievement factor of objectives set forth within the Fiscal 2023 PSU award