SNDL INC. NOTICE OF MEETING AND INFORMATION CIRCULAR DATED JUNE 16, 2023 FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD VIRTUALLY ON JULY 27, 2023 AT 9:00 a.m. (Toronto Time) 1 SNDL INC. NOTICE OF ANNUAL MEETING OF SH

NOTICE OF MEETING AND

INFORMATION CIRCULAR

FOR THE ANNUAL MEETING OF SHAREHOLDERS

TO BE HELD VIRTUALLY

AT 9:00 a.m. (Toronto Time)

NOTICE OF ANNUAL MEETING

OF SHAREHOLDERS TO BE HELD VIRTUALLY ON

Notice is hereby given that the annual meeting

(the "Meeting") of the holders ("Shareholders") of common shares ("Common Shares")

of SNDL Inc. (the "Corporation") will be held on July 27, 2023 at 9:00 a.m. (Calgary time). The Corporation is hosting

the Meeting in virtual-only format. The Corporation encourages all Shareholders to virtually attend the Meeting. Shareholders can find

important information and detailed instructions about how to attend and participate in the Meeting in the accompanying information circular

of the Corporation dated June 16, 2023 (the "Information Circular").

Registered Shareholders and duly appointed proxyholders

will be able to attend, participate and vote at the Meeting online at https://web.lumiagm.com/446232042, all in real time, provided

they are connected to the Internet and properly follow the instructions contained on the website. Beneficial Shareholders (being Shareholders

who hold their Common Shares through a broker, investment dealer, bank, trust corporation, custodian, nominee or other intermediary)

who have not duly appointed themselves as proxyholders may still attend the Meeting as guests. Guests will be able to listen to the Meeting

but will not be able to vote at the Meeting or ask questions.

The Meeting and any or all adjournments thereof

The nature of the business to be transacted at the

Meeting and the specific details of the matters proposed to be put to the Meeting are described in further detail in the accompanying

Information Circular. As a Shareholder, it is very important that you read the Information Circular and other Meeting materials carefully.

They contain important information with respect to voting your Common Shares and attending and participating at the Meeting.

The record date for the determination of Shareholders

entitled to receive notice of and to vote at the Meeting is June 12, 2023. Shareholders whose names have been entered in the register

at the close of business on that date will be entitled to receive notice of and to vote at the Meeting, provided that, to the extent a

Shareholder transfers the ownership of any of his, her or its Common Shares after such date and the transferee of those Common Shares

establishes that he, she or it owns the Common Shares and requests, not later than ten (10) days before the Meeting, to be included

in the list of Shareholders eligible to vote at the Meeting, such transferee will be entitled to vote those Common Shares at the Meeting.

Management is soliciting proxies. Shareholders

who are unable to attend the Meeting or any adjournment or postponement thereof and who wish to ensure that their Common Shares will

be voted are requested to complete, date and sign the enclosed form of proxy in accordance with the instructions set out in the form

of proxy and in the Information Circular accompanying this Notice, and: (i) vote it online at https://login.odysseytryst.com/pxlogin;

or (ii) mail it to or deposit it with the Corporation's Canadian transfer agent, Odyssey Trust Company at:

Odyssey Trust Company

Traders Bank Building

702, 67 Yonge Street

Toronto, Ontario M5E 1J8

Attention: Proxy Department

For the proxy to be valid, the duly completed

and signed form of proxy must be received not less than 48 hours (excluding Saturdays, Sundays and statutory holidays) before the time

set for the Meeting or any adjournment or postponement thereof. A Shareholder may appoint as his, her or its proxy a person other than

those named in the enclosed form of proxy. That person does not have to be a Shareholder.

The Corporation has decided to use the notice-and-access

("Notice-and-Access") rules provided under National Instrument 54-101 - Communication with Beneficial Owners

of Securities of a Reporting Issuer ("NI 54-101") for the delivery of this notice of annual meeting, the Information

Circular, and a form of proxy or a voting instruction form (as applicable) (collectively, the "Meeting Materials")

to non-registered Shareholders ("Beneficial Shareholders") for the Meeting. The Notice-and-Access method of delivery

of Meeting Materials allows the Corporation to deliver the Meeting Materials to Beneficial Shareholders over the internet in accordance

with the Notice-and-Access rules adopted by the Canadian Securities Administrators under NI 54-101.

Beneficial Shareholders will receive a VIF enabling

them to vote at the Meeting. However, instead of a paper copy of the Meeting Materials, Beneficial Shareholders will receive only a notice

with information on the date, location and purpose of the Meeting, as well as information on how they may access such materials electronically.

The use of this alternative means of delivery is more environmentally friendly as it will help reduce paper use and will also reduce the

cost of printing and mailing the Meeting Materials to Shareholders. Beneficial Shareholders are reminded to view the Meeting Materials

prior to voting or causing their votes to be cast. Materials can be viewed online under the Corporation's profile on SEDAR at www.sedar.com

or on the website of Odyssey Trust Company, the Corporation's Canadian transfer agent and registrar, at https://odysseytrust.com/client/sndl-inc/.

The Meeting Materials will remain posted on Odyssey Trust Company's website at least until the date that is one year after the date

the Meeting Materials were posted. The Corporation will not be adopting stratification procedures in relation to the use of Notice-and-Access

rules. The Corporation is providing paper copies of its Information Circular only to its Registered Shareholders.

Beneficial Shareholders may request paper copies

of the Meeting Materials be sent to them by postal delivery at no cost to them. Requests may be made up to one year from the date the

Meeting Materials are posted on Odyssey Trust Company's website. In order to receive a paper copy of the Meeting Materials or if

you have questions concerning Notice-and-Access, please call the Corporation's Canadian transfer agent and registrar, Odyssey Trust

Company, toll free at 1-888-290-1175 (within North America) or 1-587-885-0960 (outside North America). Any requests for material received

before the meeting date should be fulfilled within 3 business days.

Information Circular - June 16, 2023

For the Annual Meeting of

Shareholders of SNDL Inc.

to be held on July 27, 2023

FORWARD-LOOKING STATEMENTS

This Information Circular and the documents

incorporated by reference herein contain forward-looking statements and forward-looking information (collectively, "forward-looking

statements") within the meaning of applicable securities laws. All statements other than statements of present or historical

fact contained in this Information Circular are forward-looking statements. Forward-looking statements are often, but not always, identified

by the use of words such as "seek", "anticipate", "plan", "continue", "estimate",

"expect", "may", "will", "project", "predict", "potential", "target",

"intend", "could", "might", "should", "believe" and similar expressions or

the negative thereof.

Without limiting the generality of the following,

this Information Circular contains forward-looking statements pertaining to:

The forward-looking statements contained in

this Information Circular are expressly qualified by this cautionary statement. Except as required under applicable securities laws, the

Corporation does not undertake or assume any obligation to publicly update or revise any forward-looking statements. Shareholders should

read this entire Information Circular and consult their own professional advisors to assess the legal issues, risk factors and other aspects

of the matters to be voted on at the Meeting prior to voting their Common Shares.

Unless the context otherwise requires, when

used in this Information Circular, the following terms shall have the meanings set forth below.

"2022 Circular" means the

information circular of the Corporation dated June 21, 2022, as prepared and delivered in connection with the 2022 Meeting;

"2022 Meeting" means the

annual and special meeting of Shareholders held on July 25, 2022;

"ABCA" means the Business

Corporations Act, Alberta R.S.A. 2000, c. B-9;

"Advance Notice Provisions"

means the Corporation's advance notice bylaws;

"Amended Plan of Arrangement"