FORT LAUDERDALE, FLORIDA – May 17, 2024 – Flora Growth Corp. (NASDAQ: FLGC) ("Flora" or the "Company"), a consumer-packaged goods leader and pharmaceutical distributor, commends President Joe Biden and his administration for moving to reschedule cannabis under U.S. federal law.

"We are pleased with the continuous momentum in the U.S. around cannabis reform. We are excited about this proposed change and believe Americans could benefit tremendously," said Clifford Starke, Chief Executive Officer.

"We are focused on building brands in the U.S. and internationally and are operating from a position of strength. We are working on creating a national beverage brand by leaning on our past award-winning products. Quality is of outmost important to Flora, and it is an area in which we intend to pursue partnerships," added Mr. Starke.

"An important area of emphasis is the anticipated impact and access to medical cannabis in the U.S., which is something that has garnered by-partisan support. Flora has a history as a player in European medical cannabis and we eagerly await the opportunity to do so in the U.S. when the time is right," concluded Mr. Starke.

President Biden called the move "monumental" and noting that it is an "important move towards reversing longstanding inequities". The Justice Department is expected to post its proposed rule to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act in the Federal Register. A 60-day public comment period is expected before the rule is potentially finalized.

The White House announcement comes shortly after reports emerged that the Drug Enforcement Administration was about to reclassify cannabis as a Schedule III drug.

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About Flora Growth Corp.
Flora Growth Corp. is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.

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Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com

Media:
media@floragrowth.com

Cautionary Statement Concerning Forward Looking Statements

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