From: Brendan Kennedy
Date: March 23, 2021 at 10:21:03 AM EDT
Subject: Tilray / Aphria Transaction Approval Voting Information
Dear Legacy Shareholders,
Thank you for your early belief in
the cannabis industry and investment in Privateer Holdings. Your support helped to position Tilray as an industry leader. As a result as announced on December 16, 2020 we have the opportunity to combine businesses
with Aphria Inc. and create the worlds largest global cannabis company by revenue.
The merger will provide for long-term health, sustainability,
greater resources, scale, and a broader portfolio of exciting brands. This merger will deliver on our promise of building a clear global market leader in our industry while increasing value to shareholders, partners, and consumers around the globe.
Tilray is in the process of mailing proxy materials for the upcoming special meetingto be held April 16, 2021to approve the merger with
Aphria Inc.
The record date for determining notice of vote was fixed on March 12, 2021. Since you held shares as of the record date, you are allowed
to vote the number of shares that you held on March 12, 2021 regardless of the number of shares that you hold on the day that you vote.
To simplify
the voting process, you can email any or all of our proxy solicitors (copied here, Bob Marese (bmarese@mackenziepartners.com), Kevin White (kwhite@mackenziepartners.com) or John Bryan (jbryan@mackenziepartners.com)) to vote
your shares per your request, or follow the instructions on the proxy card in your mailing. If you email MacKenzie Partners, they will acknowledge receipt of your request to vote your record date shares. Should you have questions or need
further assistance, MacKenzie Partners can be reached toll-free at 800-322-2885.
Thank you for your continued support.
Brendan Kennedy | Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information in this email constitutes forward-looking information or forward-looking statements (together, forward-looking
statements) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by
the safe harbor created by such sections and other applicable laws. The forward-looking statements are expressly qualified by this cautionary statement. Forward-looking statements are provided for the purpose of presenting information about
managements current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. Any information or statements that are contained in this email that are not statements
of historical fact may be deemed to be forward-looking statements, including, but not limited to, statements in this email with regards to: (i) statements relating to the strategic business combination of Aphria Inc. (Aphria)
and Tilray, Inc. (Tilray) and the expected timing and closing of the proposed business combination (the Transaction); Transaction including, receipt of required shareholder approvals, court approvals and
satisfaction of other closing customary conditions; (ii) estimates of pro-forma financial information of the Combined Company, including in respect of expected revenues and production of cannabis; (iii) the expected strategic and
financial benefits of the business combination, including estimates of future cost reductions, synergies, including expected pre-tax synergies, savings and efficiencies; (iv) statements that the
Combined Company anticipates having scalable medical and adult-use cannabis platforms expected to strengthen