Evolving Cannabis Industry Potential and Constellation Investment Overview
Forward-looking Information Disclaimer
CANOPY GROWTH
Constellation
Brands
CORPORATION
This presentation contains "forward-looking information" and "forward-looking statements" (which we refer to collectively as forward-looking information) within the
meaning of applicable Canadian securities legislation, and “forward-looking statements" within the meaning of the United States Private Securities Litigation Reform
Act of 1995 (collectively referred to as "forward-looking information"). All statements, other than statements of historical fact, may be forward-looking information.
Forward looking information can be identified by the use of statements that include words such as "anticipate", "plan", "continue","estimate", "expect", "exceed",
"may", "will", "project", "predict", "propose”, “potential", "targeting", "exploring", "scheduled"”, “implementing”, “intend”, “could”, “might”, “should”, “believe” and
similar words or expressions. Information provided in this presentation is necessarily summarized and may not contain all available material information. Such forward-
looking information is subject to various risks and uncertainties.
Forward-looking information in this presentation includes, but is not limited to, statements with respect to: (i) the anticipated effects and benefits of, timing and
completion, including satisfaction of all necessary conditions, of each component of Constellation's investment in Canopy; (ii) the ability of Canopy to grow its
business, operations and activities; (iii) the benefits of the investment to Canopy; (iv) the potential impact on Canopy's growth prospects; (v) potential opportunities in
the Canadian, U.S. and global cannabis market, including for growth in sales, supply, revenue, cultivation and processing; (vi) the potential for future product
development; (vii) the availability or benefit of Canopy's existing contractual relationships, including provincial supply agreements; (viii) the ability of Canopy to achieve
market scale; (ix) the impact of the transaction on the Company's outstanding share capital; (x) the abilities of management of Canopy; (xi) future market share
achieved in recreational markets, (xii) product development; (xiii) clinical trial work, (xiv) planned acquisition activities, including with respect to pending acquisitions.
Forward looking information is based on certain assumptions, estimates, expectations, analyses and opinions made by management in light of their experience and
perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the
circumstances. Forward looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking information, including, but not limited to, risks relating to the cannabis industry; risks relating to the completion
of the transaction; risks relating to the demand for cannabis products; risks relating to being a controlled company; risks relating to future growth; risks relating to
competition in the industry; risks relating to necessary approvals to completion of the transaction; financing risks; market risks; risks to the economy; regulatory risks;
risks relating to global financial conditions; reliance on key personnel; operational risks inherent in the conduct of cannabis activities; increases in capital or operating
costs; risks relating to the Company's ability to use the proceeds effectively; the risk of delays or increased costs that may be encountered during the company's growth;
risks relating to completion of the transaction, including being able to complete the transaction on satisfactory terms or at all, environmental risks, and the additional
risks identified in the "Risk Factors" section of Canopy's annual information form and Constellation's annual report on Form 10-K and other reports and filings filed
with applicable securities regulators in Canada and the United States. There can be no assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and neither Constellation
nor Canopy intends, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this presentation, except as required by
law. Accordingly, readers are cautioned not to place undue reliance on forward-looking information.
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