s c i e n c e q u a l i t y i n n o v a t i o n

May 2020

Investor PresentationMay 2020SQI

Diagnostics

SQI Diagnostics Inc. (TSXV:SQD)

s c i e n c e q u a l i t y i n n o v a t i o n

This presentation may contain certain statements including, without limitation, the words “may”, “plan”, “will”,“estimate”, “continue”, “anticipate”, “intend”, “expect”, “believe”, “in the process”, “benefits”, “leading to”,“possible”, “is subject to” and other similar expressions which may constitute “forward-looking statements”within the meaning of applicable securities laws.

Forward-looking statements reflect the Company's current expectations and assumptions, and are subject to anumber of risks and uncertainties that could cause actual results to differ materially from those anticipated.Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties including, but not limited to: our ability to market and sellour products including our novel multiplexing technologies and detection platforms; our ability to maintain anytechnical or product advantages; the success of our Diagnostic Tools and Services business and our intent tobuild near-term revenue streams from this business; the successful regulatory filing and receipt of regulatoryapprovals for our later stage quantitative diagnostic kits; adverse changes in general economic conditions;international risk and currency exchange fluctuations; competitor activity; technology changes; regulatoryapprovals and the impact of healthcare reform legislation; and, SQI's ability to raise additional funds in thefuture.

Such statements, risks and uncertainties are detailed in the Company’s ongoing filings with the securitiesregulatory authorities, and are available to the public at www.sedar.com. The Company undertakes noobligation to publicly update or revise any forward-looking statements either as a result of new information,future events or otherwise, except as required by applicable securities laws.

Forward Looking Statements

3

4

Investment Summary

Financial growth

Strong customer base

Customer base includes established diagnostics and global biopharma customers with strong qualified pipeline

Key existing customers: imaware and University Health Network

Transitioning from R&D company to commercialization

Revenues expected to grow from both kits sales and services in 2020

High product gross margins resulting in strong cash generation with sales growth

Fully approved and commercializing

SQI is continuing to commercialize our proprietary technologies and research and development to fuel growth in clinical testing

Maximizing recurring revenue through the sale of consumable testing kits used with SQI testing instruments

We provide advanced clinical diagnostics technologies to measure proteins in human blood samples

Active in innovative and fast-growing sectors of clinical diagnostics

Inflammation biomarker tests in acute & chronic disease states– COVID-19

Partnering with world-leading innovators in organ transplantation to address high unmet needs

Leading technology for direct-to-consumer at home testing

Biopharma drug development

SQI Diagnostics: Innovative Tests for Human Health

5

The Power of Multiplexing

6

mul·ti·plex ---- verb ---- /‘məl-tē -, pleks/-to detect multiple analytes from a single biological specimen

one wellone unit of effortmultiple results

the pain is cost, the cure is multiplexing and automated analyzers from SQI

using only 15 minutes of labor, our products and systems deliver full panels of over 7,000 quantified results

reducing labour costs by > 90%maintaining quality and performance

in every result

7

Standard ELISA(semi-manual operation)

sqidliteTM

(fully automated operation)

Blood Samples Required

10 blood samples/patient 1 small blood sample/patient

Duplicates 20 if using duplicates no duplicates needed

# of Kits 20,180 ELISA Kits 1,042 SQI Kits

Days of labour 870 days of labour 34 days of labour on 2 sqidlites

Time per patient 50 minutes/patient 30 seconds/patient

10 biomarker panel100,000 patient samples

SQI products save time and reduce costs, with superior technical performance

SQI advantage over current testing technology

ELISA - Enzyme-Linked Immunosorbent Assay is the commonly used form of blood testing

8

SQI Diagnostics: Revenues

Products: drive recurring revenue by selling consumable testing kits used with SQI proprietary testing instruments

Services: state-of-the-art customized testing solutions for biological therapeutic development and clinical innovators

Proprietary Instruments Testing Kits Services

• Custom diagnostics• Custom biopharma• FDA-cleared tests• Drive Recurring Revenue• Portable across instruments

• Rapid kit development• Pharma testing services• CLIA testing services• Co-development for specific

indicators with industry thought leaders

• sqidliteTM

• Benchtop solution for mid-size facility

• sqid-XTM

• Semi-automated solution

• sqid-Xpress• Point of care, <20

min

Product Description Samples per year

For mid-volume labs, benchtop platform processes one plate per run, after only 20 minutes setup.

FULLY AUTOMATED

75k-130k SAMPLES/YR

Semi-automated benchtop for low-volume testing or drug discovery research

semi AUTOMATED

100k SAMPLES / YR

20-minute test at the point of care –where you need the results

POINT of CARE

9

Instrumentation scaled to lab needs

sqidliteTM

sqid-XTM

The SQI product portfolio automates the clinical testing process to increase efficiencies up to 40%

sqid-Xpress

SQI Existing Customers and Pipeline

SQI shift in focus from research and development to commercialization underway with a strong qualified pipeline

Consistent growth in test kit sales

Strong existing customer base

Partnerships with established pharma and diagnostic testing facilities

Current Customers Pipeline

Extend pipeline products to COVID-19

Development of new at-home testing kits with existing and new partners

Partnerships with industry thought leaders to support further research and improvement in diagnostic testing

Large pharmaceutical companies that want to streamline testing for new drug development

10

Strategy Overview

SQI offers unique expertise in commercializing research and clinical innovation

1. Toronto’s University Health Network partnership

Developed a new point-of-care diagnostic device and multiplex testing kit to assess the suitability of donor lungs for transplantation resulting in immediate revenues of $1.1 million and high potential for recurring revenue upon completion

Translate point of care and multiplexing test kit products to assess severity of respiratory distress, e.g., COVID-19 with CIHR Rapid Research funding

2. Organic growth: Diagnostics and Biopharma

Expand organ transplant testing to donor organ screening; expand from lung to kidney and liver

Focus on key target customers to deliver companion diagnostics solutions for therapeutic targets for COVID-19 (cytokine suppressors)

3. CLIA testing lab

New direct-to-consumer product offering at US-based CLIA testing lab (imaware)

11

Global leader

– 701 total organ transplants (2019)

– 212 total lungs (2019) - largest in the world, operative mortality 1.4%

– Named top 10 best hospitals worldwide (#4, Newsweek 2020)

Lung transplantation innovation trailblazers, including world first:

– 1st successful single (1983) and double (1986) clinical lung transplant

– Triple organ (lung, liver & pancreas) transplant (2015)

Partnership with University Health Network (Toronto)

12

Organ Health – Lung Transplants

13

Average recipient wait time is 6 months, could be years

Of the available 15,000 donor lungs in North America, only 3,000 lungs are transplanted (20%)

Lung quality measurements are subjective

Many rejected lungs are otherwise healthy

SQI’s TORdx test provides quantitative measurement of lung quality, increasing lungs available for transplant

FDA, Health Canada in progress

14

MARKET SIZE: ORGAN HEALTH PRODUCTS

Large Transplant

Center USACanada + 10% US Market

Share BLUE Sky

# of Donor Organs

TORdx Lung Panel Tests >250 5,500 800 $3,200,000

Lung POC Tests >1,000 18,000 3,000 $1,200,000

Kidney Panel Tests 1,400 19,800 3,400 $27,000,000

Liver Panel Tests 700 9,900 1,700 $13,500,000

Heart Panel Tests 300 5,500 850 $6,800,000 Patient number based on information from KOLs based on current number of transplants plus an estimate of near-term market expansion caused by TORdx & TLS acceptance criteria for viable organs. Estimates are based on having 1 Large Center and 10% of US Market Share $52,000,000

Large Key Opinion

Leader Center USA 10% US Market ShareBLUE Sky

Lung Cancer Biopsy (BAL) 500 330,000 33,500 $14,000,000

World-wide it is estimated that Olympus sells ~400,000 BAL Needles per year and each needle is used for an average of 2 biopsied samples.

RALI-DX Total # Patients in Market BLUE Sky

Canada USA 10% Market Share @$100 per test

RALI-DX (non-COVID-19) 494,000 5,434,000 590,000 $59,000,000

RALI-DX (COVID-19) 400,000 4,400,000 480,000 $48,000,000

Annual revenue at 10% of the market combined in this focused pipeline of >$

COVID-19 Testing: Respiratory Severity

15

3 tests for COVID-19:

• Do you have COVID-19? (nucleic acid)

• How severe will it be? (protein)

• Have you had COVID-19? (antibody)

COVID-19 severity test:

• What is patient prognosis?

• What is patient trajectory?

FDA is highly motivated to make tests available for market:

• Rapid regulatory review following Emergency Use Authorization (EUA)

COVID-19 Prognosis: inflammatory biomarkers

16

Inflammation biomarkers indicate patient prognosis and disease progression in COVID-19 patients

CIHR awarded UHN$0.95M rapid research award Mar 2020; UHN awarded some $ to SQI

Apply lung transplant diagnostic test technology to prognosis of COVID-19 patients undergoing respiratory distress

– Mild symptoms → go home and monitor

– Severe symptoms → hospitalize and treat

Rapid assessment (< 1 hour)

Clinical studies initiated April 2020; expected completion June 2020; n=300 subjects

FDA, Health Canada regulatory discussions

SQI: “RALI” inflammatory test panel for COVID-19 prognosis

17

SQI inflammatory products:• RALI-Dx: multiplexed cytokine panel• RALI-fast: point of care test

“RALI” = Rapid Acute Lung Injury

Regeneron, Roche-Genentech, Sanofi, Gilead, etc. are assessing IL-6 inhibitor drugs to treat COVID-19

Measurement of IL-6 levels are needed for monitoring and to assess efficacy of treatment

Unique opportunity for SQI Diagnostics cytokine testing technology, as SQI has previously worked with key pharma clients

Diagnostics and COVID-19 therapy

18

19

Strategy Overview – Organic Growth

SQI has consistent growth in sales of diagnostic testing kits and pharmaceutical development testing kits

Focus on transplant portfolio and expand beyond Lung to include Kidney, Liver and associated point of care products

Focus on Lung health and apply “RALI” product technology to broader ER and ICU assessment of Acute Lung Injury are respiratory distress assessment

Continue to establish new partnerships to develop new instruments and the accompanying kits that drive recurring revenue

SQI solutions provide significant opportunities for recurring revenue through the sale of diagnostic and new drug development testing kits

SQI pipeline includes global pharmaceutical companies and further penetration into the highly fragmented diagnostic testing center industry

20

Strategy Overview – CLIA Testing Facility

SQI’s CLIA testing facility offers full service diagnostic testing to customers

Installed additional instrument in Buffalo for COVID-19 testing

Our CLIA facility consolidates nation-wide testing volume from all customers creating significant operating efficiencies

NYSDOH validated Direct To Consumer products at CLIA-lab in Buffalo NY for:

Celiac Disease

Rheumatoid Arthritis

Buffalo, NY

CLIA Testing Facility Location

21

Future Milestones and Execution

SQI is well positioned to supplement a commercialization aspect to their strong research expertise

TORdx-LUNG

Validation at UHN

H2 2019

Completion of development phase of UHN partnership

FDA/Health Canada filings for TORdx-LUNG

H1 2020RALI-DX product proof

of concept

CLIA lab running > 3 DTC products

July 2020

TORdx-Lung FDA Clearance and widespread Marketing

DTC Cardiac Panel Launch in CLIA Lab

3 sites running TORDx-Lung

H2 2020TORdx portfolio:

Lung, Liver, Kidney

Lung POC

2023

NotesRALI-DX: Rapid Acute Lung Injury Diagnostic test targeted for COVID-19, and more broadly for early diagnosis of Acute Respiratory Distress Syndrome

Eric Brouwer, PhDCEO and Chief Scientific Officer

Russ PeloquinVP Commercial Operations

Expertise in implementing market-leading technologies in FDA and ISO-regulated environments.

Previous Experience:

Experience with biotechnology companies, leading high-level contract negotiations in the clinical diagnostics arena.

Previous Experience:

Morlan ReddockVP FinanceOver 20 years of financial and strategic management experience and holds MBA, CPA and CFA designations.

Previous Experience:

Peter Lea, PhDFounderInvented and patented the multiplexing microarray technology at the core of SQI Diagnostics.

Previous Experience:

SQI leadership team has vast experience ranging from corporate strategy and development to scientific expertise in biotechnology

Executive Team

45 Publications40 Patents

Clive J. BeddoeChairAffiliations:

Gerald R. ConnorBoard MemberAffiliations:

Wilmot L. MatthewsBoard MemberAffiliations:

Claude RicksBoard MemberAffiliations:

Eric ZwislerBoard MemberAffiliations:

Andrew MorrisBoard MemberAffiliations:

Board of Directors

SQI Board of Directors own ~77% of the company and are aligned to maximize shareholder value

Company Snapshot

24

Ticker: TSX-V:SQD

Traded on: OTCQ :SQIDF

Shares Outstanding: 277 M

Market Cap: ~$28 M (April 2020)

Number of Warrants

Exercise Price

Maturity

5,330 $0.64 July 16, 2020

7,631 $0.52 December 15 and 21, 2020

22,970 $0.21 March 10, 2022

463 $0.20 December 20, 2020

54,527 $0.20 December 20, 2022 – August 24, 2023

13,429 $0.17 July 12, 2024

32,300 $0.13 September 25, 2024 – October 22, 2024

44,444 $0.12 February 14, 2025 – March 5, 2025

28,200 $0.11 March 1 and 8, 2024

4,117 $0.09 January 30, 2025

623 $0.085 February 20, 2025

214,034

Number of Options Range of Exercise Prices

10,061 $ 0.07 - 0.25

1,802 $ 0.26 – 0.39

205 $ 0.40 – 0.60

12,068

SQI Diagnostics Inc. (TSXV:SQD) – Warrant Information ( 000’s)

SQI Diagnostics Inc. (TSXV:SQD) – Option Information (000’s)

SQI Diagnostics Inc. (TSXV:SQD) – Market Information SQI Diagnostics Inc. (TSXV:SQD) – Capital Structure

Shareholders # of shares %

Insiders 212,606,908 76.81%

Clive Beddoe/Hanover 70,176,207 25.35%

Wilmot Matthews/Marjad 70,271,165 25.39%

Gerald Connor/Cumberland 69,391,738 25.07%

Other Board Members 2,747,798 0.99%

Management 20,000 0.01%

Public Float 64,178,627 23.19%

Total Shares Outstanding 276,785,535 100%

Options 12,067,709

Warrant 214,034,042

Concluding Remarks:

25

Timing is everything !!!

SQI is well positioned to capitalize on existing opportunities

Low capex requirements

Potential use of funds raised:

Working capital

Clinical and Regulatory

Scaling up operations

Inventory (kits, instruments)

CONTACT INFORMATION:

SQI DIAGNOSTICS INC.

36 METEOR DRIVE

TORONTO, CANADA M9W 1A4

IR@SQIDIAGNOSTICS.COM / MREDDOCK@SQIDIAGNOSTICS.COM

416-674-9500 /X277

Investor PresentationMay 2020SQI

Diagnostics

SQI Diagnostics Inc. (TSXV:SQD)

s c i e n c e q u a l i t y i n n o v a t i o n