The final stage of hair growth is the exogen phase, also known as the shedding phase. This is when the hair follicle detaches from the old hair shaft, and the hair falls out. It's a natural process that makes room for new hair growth.
Note: While the exogen phase is often considered a separate phase, some sources consider it to be part of the telogen (resting) phase. The exogen phase is a relatively short stage compared to the other phases of the hair growth cycle.