CorporateOverview

beyond pioneering

Who We Are

2

• Established 1984

• Preferred provider to the Office of

Medicinal Cannabis (“OMC”) in the Netherlands since 2003, ten (10) years

prior to the establishment of the MMPR in Canada

30 Years experience

1st

18Jurisdictions served

• Patients, researchers, and

pharmaceutical partners in over a dozen countries and jurisdictions count on

Bedrocan’s products;

• Governments, corporates, and research institutions (NGOs, CROs, etc.) favor the

Bedrocan product suite

5Standardized Cultivars

• Five (5) unique cultivars have been

standardized and commercially accepted as raw material for the production of

Active Pharmaceutical Ingredients (“API”);

• Standardized placebo is also available for clinical and scientific trials;

Bruining

Erkelens

DROge (= ‘dry’)

CANnabis

Facts and Figures

3

Select Financial Statistics*

53%Revenue CAGR 2013-2017

62%Kgs Sold CAGR 2013-2017

10Years Fiscal Growth

80%Production Capacity CAGR

Operating Statistics

* O r g a n ic C A G R s d e f in e d a s w i th o u t M & A a c t iv i ty

18Jurisdictions

w here B edrocan products are

availab le

G row Room s w orldw ide40

Once upon a time…

4

Corporate Timeline

1984

Start –Founding of

Bedrocan as an agricultural company

Seeds –First production

of cannabis seeds

1992

1999

Program –Dutch Health Minister starts

medicinal cannabis program

2002

License –Bedrocan is awarded 1s t

license to grow medicinal cannabis

Start –Official start

under the Dutch medicinal cannabis program

2003

2014

Canada –New facility

under Canada Health and

opening new Dutch facility

2015

Expansion –Start USA team and start new

production facility in Czech

Republic

2016

Australia –Start Bedrocan Brazil and plans

for Australia become reality

2017

GMP –Good

manufacturing practice (GMP)

and opening new Dutch

facility

2018

Expansion Capital –

BI prepares for global expansion and large equity

infusion

2017

Outside Investment –

Bedrocan accepts its first funds from an

outside investor

5

Global Market for Cannabis and Market Environment

Current Regulation

• As of the date of this publication, medical use of cannabis is legal in

Canada, Israel, Belgium*, Austria* Netherlands, Czech Republic,

Denmark (4-year pilot project), Estonia, Spain, Greece, Portugal, Croatia, Mexico, Chile, Uruguay, Poland, Finland, Norway,

Macedonia, Germany, Jamaica, Australia, Italy, Colombia, Slovakia,

Lesotho and Switzerland;

• Cannabis is classified as a Schedule IV drug in the UN Single

Convention on Narcotic Drugs (the “Convention”); the Convention, however, allows independent nation states the choice of establishing

cannabis for medical and scientific purposes.

Legality of Possession of Small Amounts of Cannabis

Exemptions for Medical Use

L e g a l o r E s s e n t ia l ly L e g a l

I l le g a l b u t d e c r im in a l iz e d

I l le g a l b u t u n e n fo r c e d

I l le g a l

N o in fo r m a t io n

M e d ic a l U s e L a w s in P la c e

Regulatory Outlook

• The US does not show a sign of uniform legislation on the near term, although states are increasingly moving toward recreational use and

robust medical use programs. The preponderance of states have legalized cannabis in some capacity, and only a single digit few still

enforce misdemeanor possession laws on the books;• In Canada, legislation allowing for national adult use is set to take

effect on October 17, 2018, with nationwide dispensaries and other distribution outlets set to open to an eager adult use population;

• Experience in the US and Canada suggests that, once in place,

medical cannabis laws are difficult to repeal, which may be due to a multitude of factors such as acceptance by the population at large,

increased tax revenues, lower healthcare spending, and other social and economic considerations. S o u r c e s : U N O D C , D E A , F r o n t ie r F in a n c ia ls G lo b a l L e g a l C a n n a b is R e p o r t . 6

* O n ly w i th p r e s c r ip t io n o f s p e c ia l is t d o c to r

The Dutch Model – The Office of Medicinal Cannabis (“OMC”)

7

• Established 2000;

• Part of the Dutch Health Ministry;

• Responsible for production, distribution

(export) and quality;

• Mandator of Bedrocan Nederland (Dutch

licensee of Bedrocan International);

• Monopoly on trade of all raw cannabis

(similar to production of poppies);

• www.cannabisbureau.nl (EN pages too).

( 1 ) M a r i ju a n a B u s in e s s D a i ly E s t im a t e d D e m a n d , le g a l a n d b la c k m a r k e t .

( 2 ) B N N B lo o m b e r g ; C a n a d a ’s le g a l c a n n a b is m a r k e t b y t h e n u m b e r s

( 3 ) O p e n S o c ie t y F o u n d a t io n e s t im a t e s > $ 4 0 0 m i l l io n in t a x r e c e ip t s b y D u t c h A u t h o r i t ie s in 2 0 1 3 f r o m c o f f e e - s h o p s . .

( 4 ) In d u s t r y e s t im a t e s b a s e d o n p o p u la t io n , g e o g r a p h y , a n d p r o p r ie t a r y m a r k e t r e s e a r c h .

NetherlandsUnited States Europe

S chedu le 1 N a rco tic in the C S A ;

A dve rse E xecu tive b ranch & en fo rcem en t po licy ;

S ca le & in te rs ta te com m erce p roh ib ited

Federal Regulation / Enforcement Policy

G overnm en t as coun te rpa rty c rea tes pa rtne rsh ip &

leg it im acy ;

G ov ’t to G ov ’t (“G 2G ”) supp ly cha in ;

N ine (9 ) s ta tes have passed fede ra l leg is la tion fo r

m ed ica l cannab is consum ption (B I has lo n g s tan d in g re la tio n sh ip s w ith each ju risd ic tion );

P ub lic / P riva te pa rtne rsh ips

S chedu le 2 N a rco tic in the C S A M ed ica l use lega lized s ince 2002 / rec rea tiona l use

a llow ed from O c tobe r 17 2018N o n -co m p lian t w ith U N trea ties

Access to Banking / Depository Services

L im ited and incong ruen t access (o ften a t

cons ide rab le p rem ia ) be tw een / am ong the s ta tes

F u ll depos ito ry , w ire , treasu ry se rv ices by m u ltip le

g loba l inves tm en t and m erchan t banks ;R evo lv ing , p ro jec t f inance , and rea l es ta te fac ilit ies

ava ilab le a t com m erc ia l ra tes ;

F u ll depos ito ry , w ire , treasu ry se rv ices by m u ltip le

g loba l inves tm en t and m erchan t banks ;R evo lv ing , p ro jec t f inance , and rea l es ta te fac ilit ies

ava ilab le a t com m erc ia l ra tes ;

F u ll depos ito ry , w ire , treasu ry se rv ices by m u ltip le

g loba l inves tm en t and m erchan t banks ;R evo lv ing , p ro jec t f inance , and rea l es ta te fac ilit ies

ava ilab le a t com m erc ia l ra tes ;

Tax Considerations §280E D educ tion L im ita tion

N o adve rse tax

A ccess to ag ricu ltu ra l, b io tech , and pha rm a

subs id ies and g ran ts

N o adve rse tax

A ccess to ag ricu ltu ra l, b io tech , and pha rm a

subs id ies and g ran ts

N o adve rse tax

A ccess to ag ricu ltu ra l, b io tech , and pha rm a

subs id ies and g ran ts

LicensingD ispa ra te licens ing reg im es be tw een / am ong

s ta tes

P re fe rred p ro v id er to O M C fo r f ifteen (15 ) yea rs ;

P ub lic tende r d isbu rsed eve ry 3 -5 yea rs ; S epa ra te tende rs fo r m ed ica l & rec rea tiona l use to

be ra tif ied in 2019

L im ited licens ing

In d o o r C u ltiva tio n ; 3+ yea r h is to ry o f C O A s ;

C h em ica l p ro files s im ila r to B I C u ltiva rs ;

+ 118 L icen ses Issu ed – free m arke t po licy ;

s tr ic t regu la tions to p roh ib it d ive rs ion and to gua ran tee m in im um qua lity ;

N o s tr ic t sepa ra tion m ed ica l/rec rea tiona l

Quality and standardization Requirements

“C om pass iona te U se ”

(no s tanda rd iza tion regu la tion )

S tric t S tanda rd iza tion to G A C P and G M P

(N on -con fo rm ing c rops des troyed )

S tric t s tanda rd iza tion as m ed ica l cannab is v iew ed

as a pha rm aceu tica l p roduc t in E U ;

G A C P an d G M P s tanda rd iza tion

N on -pha rm aceu tica l regu la tion (A C M P R )

F or m ed ic ina l and rec rea tiona l use

Total Addressable Market (Population)

330 m illion * 17 m illion 750 m illion 37 m illion

Total Addressable Market ($)

$50 -55 b illion (1) $1 .5 – 3 .0 b illion (3) $100 -125 b illion (4)$ 4 .3 – 7 .5 b illion (2)

Regulatory and Commercial Landscape

8

Canada

Views on European Cannabis Market

European cannabis market

• Europe is destined to become the world’s largest medical cannabis

market because the Continent will require fully registered cannabis

medicines in its market, and will hold those medicines to

pharmaceutical and GMP standards throughout.

• Driven in large part by pharmacies and physicians, European

cannabis agencies will enforce Good Manufacturing Practices

(“GMP”) and public healthcare coverage policies that will ensure high

standards from the cannabis industries. Only companies that are

able to meet and maintain these high standards, will survive in the

European cannabis industry.

• Recreational cannabis is very unlikely to become widely regulated in

Europe as it is in the US and Canada, as the compassionate use

systems of the Western Hemisphere are unlikely to cross the ocean

to Europe.

Select Forecast

Bedrocan is likely to become the key-cultivator because:

• Nearly three decades of experience in cultivating top-quality medical

cannabis in the most scrutinized government-to-government

supply chain on the planet;

• Assisted governments around the world in understanding the Dutch

Framework of cannabis regulation, and seeks to export regulatory

influence and commercial discipline in every new market it enters;

• Acquired GMP certification for its whole cultivation process.

9

Unique position

30 years in business

10

N etherlands1984

Global presence (Office or facility)

11

U SA 2015

*C anada 2014

*Jurisdiction subject to moratorium between Canopy and Bedrocan

*B razil2016

A ustralia2016

C zech R ep2014

B edrocan current presence

N etherlands

Exportation to the world

12

Fin land

*C anada

G erm any

*B razil

Israel

A ustralia

C zech R ep

D enm ark

Poland

M acedonia

A ustria

Italy

*Jurisdiction subject to moratorium between Canopy and Bedrocan

B edrocan current presence

N orw ay

Sw eden

U nited K ingdom

Sw itzerland

M alta

Corporate Partnerships

13

Pharma

Academic

Research Organizations

Governments

Professional Team and Industry Advisors

14

Legal

Other

Financial

Consulting

Questions?

15

CorporateOverview

16

Tjalling ErkelensFounder, Chairman, and CEO

t.erkelenes@bedrocan.com

Mauricio Agudelo, JD CFAChief Financial Officer

m.agudelo@bedrocan.com