Company: CGC
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001104659-25-075215
Chunk: 21

Company: Canopy Growth Corp
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 21
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 or otherwise, in matters to be acted upon at the Meeting other than the Director Election Proposal. NON-GAAP FINANCIAL MEASURES This Proxy Statement makes reference to certain non-GAAP financial measures, including Adjusted EBITDA. Adjusted EBITDA is not a recognized measures under United States generally accepted accounting principles (“ GAAP ”), does not have a standardized meaning prescribed by GAAP and therefore may not be comparable to similar measures presented by other issuers; however, the Company believes that Adjusted EBITDA is useful to assist readers in evaluating the performance of the Company. The Company defines Adjusted EBITDA as the reported net loss, adjusted to exclude: income tax recovery (expense); other income (expense), net; loss on equity method investments; share-based compensation 8 TABLE OF CONTENTS expense; depreciation and amortization expense; asset impairment and restructuring costs; expected credit losses on financial assets and related charges; restructuring costs recorded in cost of goods sold; and charges related to the flow-through of inventory step-up on business combinations; and further adjusted to remove acquisition-related costs. Management believes that Adjusted EBITDA provides meaningful and useful financial information as this measure demonstrates the operating performance of businesses. For more information regarding the non-GAAP financial measures used by the Company, see our 2025 Annual Report. PRESENTATION OF FINANCIAL STATEMENTS The Company’s audited consolidated financial statements as at March 31, 2025 and 2024 and for each of the years in the three-year period ended March 31, 2025, together with the auditor’s report thereon, will be placed before the Shareholders at the Meeting. The Company’s audited consolidated financial statements of the Company as at March 31, 2025 and 2024 and for each of the years in the three-year period ended March 31, 2025 and related MD&A included in our Annual Report on Form 10-K for Fiscal 2025 (the “ 2025 10-K ”) filed with the SEC and applicable Canadian securities regulators on May 30, 2025 are also available on the Company’s website at www.canopygrowth.com. 9 TABLE OF CONTENTS PROPOSAL NO. 1 – DIRECTOR ELECTION PROPOSAL Board of Directors The Company currently has five directors, and the Board has nominated five nominees (the “ Nominees ”) to be elected at the Meeting, whose names are set forth below. Four of the five nominees are currently directors