#1TSXV: NDVA | OTCQX: NDVAF Investor Presentation Q2 2021 Focused on Delivering High Quality Cannabis Products to Canadians THC / CBD 1:1 THC DARK CHOCOLATE CHOCOLAT NOIR AU THC Intended for ingestion / Destiné à l'ingestion Bhang Pound by INDMA" wana QUICK GUMMIES wana SOUR GUMMIES MANGO SATIVA 5 MG THE PER GUMMIE TOTAL THC OMG INDIVE POOTS RUN OG KUSH SATIVA 2 PRE-ROLLS 2 PRÉ-ROULÉS THC TOTAL 10.00 mg CBD TOTAL 0.00 mg 10.00 g STRAWBERRY LIME TOTAL THC 10 MG PER PACKAGE / TOTAL CBD 10 MG PER PACKAGE 2 GUMMIES PER PACKAGE Powered by AZUCA TIM RTIS INDIVA AB ATC DEEP ROOTS RUN COAST MOUNTAIN CANNABIS B HYBRID/HYBRI 30 INDICA CAPSULES Cannabis Extract/Extrait de cannabis Product packaging shown here may differ from what is sold in-store and online INDIVAM OUR ROOTS RUN DEEP Ruby Powered by INDIVA™ CANNABIS SUGAR TOTAL THC 10.00 MG/PACKAGE 2 SACHETS NET WEIGHT 0.56 Ruby Ruby www#2TSXV: NDVA OTCQX: NDVAF Forward-Looking Statement The information contained herein, together with any amendments or supplements and any other information that may be furnished by the Company, includes forward-looking information. Such information is based on assumptions as to future events that are inherently uncertain and subjective. The Company makes no representation or warranty as to the attainability of such assumptions, including the completion of financing or as to whether future results will occur as projected. It must be recognized that the projections of the Company's future performance are necessarily subject to a high degree of uncertainty, that actual results can be expected to vary from the results projected and that such variances may be material and adverse. Prospective investors are expected to conduct their own investigation with regard to the company and its prospects. This presentation does not constitute an offer to sell or a solicitation of an offer to buy any security. 2#3TSXV: NDVA OTCQX: NDVAF Investment Highlights PRODUCTS: Producer of Award-Winning WanaTM Sour Gummies and BhangⓇ Chocolate MARKET SHARE: #1 nationally in the edibles category at 50%* Market share DISTRIBUTION: GROWTH: MANAGEMENT: Products sold in nine provinces and two territories, plus Medical Cannabis by Shoppers, CannMart & Abba Medix Revenue growth driven by new SKUs and product introduction; margin expansion driven by lower input costs Leadership team with decades of experience in CPG operations, QA, finance, business development, sales, marketing and distribution BALANCE SHEET: Strong cash and working capital position Capitalization** Balance sheet (March 31, 2021) Warrant Breakdown Basic Shares: 136.0M Cash: $7.1M 17.4mm @ $0.40 (June-August 2023 expiry) Warrants: 17.7M Long Term Debt: $14M Options: 8.3M Market Cap: ($0.385, 6/9). $52M Senior Debt $11M Convertible Debenture: 13.6M (matures February 2024) Ownership: Fully Diluted Shares Outstanding: Convertible Debenture $3M Management & Insiders: 10.3% 175.6M Sundial: 18.4% Prairie Merchant Corp:. 10.2% 6mm Shares @ $0.25 (matures January 2023) 7.6mm Shares @ $0.20 (matures December 2022) * Market share data from Hifyre 3#4TSXV: NDVA | OTCQX: NDVAF Fully Licensed Production Facility - 40,000 square feet Building and land acquired February 2019 IV IL A CAP BODY 13999999 BODY CAP BODY 4 st#5TSXV: NDVA | OTCQX: NDVAF Net Revenue & Gross Margins Revenue growth driven by: New product introduction New provincial and medical agreements Improved store penetration Increased production of "2.0" products Gross Margins will continue to rise due to lower distillate costs $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 26.7% 14.5% 29.0% 22.2% 12.3% 19% Mull $3,000,000 $2,000,000 $1,000,000 -0.8% 0.8% $- Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% -5.0% Net Revenue ($ million) Gross Margin % 5 Οι#6TSXV: NDVA | OTCQX: NDVAF National Store Growth 1,800+ total stores in Canada (Indiva store penetration > 80%) Ontario opening 30 stores per week: 1,000 stores expected by Summer 2021 YT 5 STORES NWT 5 STORES Annualized retail market of $3.6 billion at May 2021 BC 341 STORES AB 628 STORES SK MB 81 STORES 85 STORES ON 731 STORES QC 68 STORES NFLD 28 STORES NB 20 STORES NS 13 STORES PEI 4 STORES 6#7TSXV: NDVA | OTCQX: NDVAF Edibles Market Share in Mature Markets Edibles Category Breakdown The Case For Edibles Total addressable cannabis market 17.35% 0.45% 1.44% 36.16% CALIFORNIA of $7-10 billion in Canada versus $3.6 billion today 32.35% 10.61% Edibles market share likely to mirror mature markets in the U.S. versus ~5% category share in Canada today Flower Concentrate Edibles Pre-roll Accessories Other Cannabis Gummies and Chocolates make up 90%+ of the edibles category in Canada 0.26% 1.03% 15.44% COLORADO 44.47% 31.00% 6.49% Flower ☐ Concentrate Edibles Pre-roll Accessories Other Cannabis 25% 21% CALIFORNIA 54% Gummies Chocolate Other 24% 20% 56% COLORADO Gummies Chocolate Other Source: BDS Analytics, Deloitte, PBO, Headset 7#8TSXV: NDVA | OTCQX: NDVAF Total $350 $300 Canadian Retail $250 Market Since Legalization $200 (Oct 2018) $150 Total market grew to $304 million for May 2021, $100 $3.65 billion annualized Edible Category grew to $13 million in May 2021, $156 million annualized $50 $ Source: Hifyre data Oct-18 Total Retail Sales and Total Edible Sales (National; C$ million) Nov-18 Dec-18 Jan-19 Fab-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 National EDIBLE Sales Aug-19 Sep-19 Oct-19 Nov-19 Dec-20 Jan-20 Fab-20 Mar-20 Apr-20 May-20 National Retail ALL CATEGORIES Sales (C$ millions) Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 $14.0 $13.0 $12.0 $11.0 $10.0 $9.0 $8.0 $7.0 $6.0 $5.0 $4.0 $3.0 $2.0 $1.0 8 00#9TSXV: NDVA | OTCQX: NDVAF Edible Sales as a % of Total Sales Sales of edible products began December 2019 5.0% 4.5% 4.0% 3.5% Edible sales are outpacing overall market growth 3.0% 2.5% 2.0% 1.5% Source: Hifyre data 2.0% 2.5% Total Edible Sales as a % of Total Sales National 3.3% 3.3% 3.3% 3.3% 3.2% 3.1% 3.2% Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Edibles % of National Retail 4.2% 4.2% 4.1% 3.8% 3.6% 3.5% Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 4.3% 4.3% Apr-21 May-21 9#10TSXV: NDVA | OTCQX: NDVAF Edible Sales by Sub-category Gummie sales growth outpacing chocolate Edibles Sales Breakdown Into Sub-category (National, $ millions) $14.0 $12.0 $10.0 $8.0 Gummies and chocolate make up 95% of the edibles category $6.0 $4.0 $2.0 $ Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Source: Hifyre data ■National Gummie Sales National Chocolate Sales National Other Edible Sales 10#11TSXV: NDVA | OTCQX: NDVAF National Market Share Distribution INDIVA ranks 11th nationally in May 2021 (all categories) out of 111 LPs INDIVA rank increases to 10th excluding Quebec (edibles not accepted by SQDC) Market Share; All Categories, National (April 2021) Aphria Canopy Pure Sunfarms Redecan Organigram Ī Aurora Hexo High Park (Tilray) Dosecann (Auxly) Cronos INDIVA Source: Hifyre data Other 100 LPS 11#12TSXV: NDVA | OTCQX: NDVAF INDIVA Rank by Market Share: National and Ontario (OCS) INDIVA's market share rank has continued to rise nationally, driven by the strength in edible sales 35 10 сл 5 о Market Share Rank National and Ontario (98 LPs; All Categories) 17 18 17 18 15 19 20 19 18 19 20 21 20 23 20 20 21 22 23 25 25 26 30 30 Jan-20 Source: Hifyre data, OCS data Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 National Sep-20 Oct-20 Nov-20 Dec-20 Ontario 16 པ\ ཆེ 16 9 11 12 12 14 12 12 12 13 13 15 Jan-21 Feb-21 Mar-21 Apr-21 Apr-21 12 11#13TSXV: NDVA | OTCQX: NDVAF INDIVA Retail Market Share (National) Indiva is #1 ranked by market share in edibles Nationally National Market Share: Edibles and All Categories 2.50% 60% 50% 40% 30% 20% 10% 0% Source: Hifyre data Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 INDIVA % Market Share EDIBLES (National) Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 INDIVA Retail Sales ALL CATEGORIES (National) Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 2.00% 1.50% 1.00% 0.50% 0.00% 13#14TSXV: NDVA | OTCQX: NDVAF INDIVA Retail Market Share by Sub- Category Wana is the #1 ranked gummie nationally with 53% market share of the gummie sub-category Bhang is the #1 ranked chocolate nationally with 32% market share of the chocolate sub-category Source: Hifyre data 60% 50% 40% 30% 21% 20% 10% 0% Feb-20 Mar-20 Apr-20 34% May-20 Wana and Bhang Market Share % by Sub-Category (National) 30% 28% 29% 26% Jun-20 Jul-20 Aug-20 Wana Gummie Market Share % (National) 34% 30% 31% 31% 9% Sep-20 Oct-20 30% 24% 24% Nov-20 Dec-20 43% 43% 30% 30% 53% 51% 48% 47% 32% 32% 30% Jan-21 Feb-21 Mar-21 Apr-21 May-21 Bhang Chocolate Market Share % (National)#15TSXV: NDVA | OTCQX: NDVAF National Distribution in Canada Recreational and medical market Supply agreements in place with 9 provinces and 2 territories 3 medical channel partners, including Shoppers Drug Mart 2 PRODUCT OCS Q 50 འ་ AGLC Alber& Lor Comm RECREATIONAL MARKET NSLC LIQUOR Saskatchewan DISTRIBUTION BRANCH ON QC AB SK NS BC Pre-rolls Flower Capsules Chocolate Wana Gummies << < ¾ 88 CANNABIS CANNABIS YUKON NB YK Q2 2021 > Cannabis MEDICAL MARKET medical cannabis by SHOPPERS NWT NL CANADA Q2 2021 Q2 2021 Q2 2021 Q2 2021 Q2 2021 Ruby Sugar, Q3/Q4 2021 Jewels Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Q3/Q4 2021 Wana Quick (fast onset) Hash Q3 2021 Q3 2021 Q3 2021 Q2 2021 Q2 2021 Q2 2021 Q3 2021 Q3 2021 Q3 2021 15#16TSXV: NDVA | OTCQX: NDVAF Talented and Experienced Team FINANCE AND CORPORATE DEVELOPMENT Niel Marotta President and CEO, Director, Co-founder Managed over $1 billion across several industries. Involved in capital raises and M&A transactions exceeding $1 billion. Jennifer Welsh, CPA Chief Financial Officer Over 15 years of experience in senior finance roles for TSX and TSXV-listed companies in mining and cannabis. Dave Paterson Chief Commercial Officer Over 25 years' experience in senior marketing and sales roles with various consumer focused industries including professional sports, beverage alcohol and cannabis. OPERATIONS Rob Carse Chief Operating Officer Over 20 years of experience in operations and supply chain management in large consumer packaged goods and food manufacturing. Melissa Kurek Vice President Operations Over 15 years' experience in commercializing products in the consumer packaged goods industry for some of the world's largest food, confectionery and beverage companies. CREATIVE AND BRAND DESIGN Tom Borowicz Chief Brand Officer Over 30 years of experience in marketing, branding, print/digital advertising and design with Fortune 500 companies. MARKETING AND SALES Leah Thiel Vice President Marketing Over 15 years' experience in cannabis and retail marketing for some of Canada's largest companies including Canopy Growth Corp., Hudson's Bay, Sears Canada, and Holt Renfrew. Eric Van Dam Vice President Sales Over 16 years of progressive sales leadership, consulting, business development, distributor management and national account experience in the Cannabis, Beverage, Alcohol and CPG industries including Red Bull, Heineken and General Mills. Alejandro Vernaza Sales Director Over 5 years' cannabis experience in sales and ecommerce with Indiva, ADP, and BC Cannamed. QUALITY ASSURANCE AND COMPLIANCE Leslie Tomlenovich Director of Quality Assurance & Regulatory/QAP Over 15 years' experience in quality assurance, regulatory and food safety in the cannabis and food industries. Highly experienced in designing and communicating effective food safety controls and quality assurance programs to meet consumer, regulatory, and operational needs. HUMAN RESOURCES AND ACCOUNTING Sherry Kelly Director of Human Resources 15 years of human resources management experience including strategic human resources planning, talent management and leadership. Jude Friesen, CPA Director of Financial Reporting Over 10 years experience in senior accounting, financial reporting, and audit roles including positions with a TSX and NYSE listed mining company, licensed producers, an international logistics company, and several years in public accounting managing audits of TSX listed companies. 16#17TSXV: NDVA | OTCQX: NDVAF Indiva's Brands Indiva delivers cannabis products that delight consumers with their quality and creativity. INDIVAT COUR ROOTS RUN DEEP Bhang wana AB B AT CH Jewels CHEWABLE TABLETS ™M Ruby Sapphire TM 17#18TSXV: NDVA | OTCQX: NDVAF ROOTS OG KUSH Hybrid 2 pre-rolls / 2 pré-roulés Products Powered by INDIVATM As the exclusive Canadian manufacturer and distributor of award-winning products such as BhangⓇ Chocolate, WanaTM Sour Gummies, Wana Quick, RubyⓇ Cannabis Sugar, Sapphire™ Cannabis Salt and Jewels TM, Indiva expects to be the national standard for excellence in edibles. NDI DIVA FOOTH PRE-ROLLS, DRY FLOWER, CAPSULES, CRAFT CANNABIS OG KUSH Net Weight/Poids Net: 1 g 2 Pre-rol 2 Pré-roulés Net Weight/ INDIV TM Poids Net: g ROOTS DIV INDIV ROOTS RUN CBD SOFTGELS/CAPSULES DE CBD Cannabis Extract/berit de camabis ROOTS RUN 30 THC CAPSULES Cannabis Extract/Extrait de cannabis EDIBLES TIS AN AB AB 2 Pre-rolls 2 Pré-roulés 10 Wana Gummies SKUs in market, 3 "Always Available" on OCS. 3 Wana Quick fast-onset SKUs launched in Q1 2021 SATIVA wana QUICK GUMMIES THC / CBD 1:1 INDICA wana QUICK GUMMIES wana QUICK GUMMIES ORCHARD PEACH TOTAL THE TOMED PACKAGE 2 GUMMIES PER PACKAGE AZUCA TIME INFUSION STRAWBERRY LIME SAL THE 10 MG PER PACKAGE/ TOTAL CD 10 MG PER PACKAGE 2QUES PACKAGE AZUCA TIME INFUS PINEAPPLE COCONUT TOTALTH TOM PER PACKAGE 2 GUMMIES PER PACKAGE Podb AZUCA TIME INFUSION Product packaging shown here may differ from what is sold in-store and online wana SOUR GUMMIES BLUEBERRY INDICA SH TOTAL THEO MC wana SOUR GUMMIES JAPANESE CITRUS YUZU 2.1 10 МЕ СВО РЕД САННЕ /56 ТРЕВОДИНЕ ALCO 20 MG/TOTAL TACIO wana SOUR GUMMIES STRAWBERRY 10.1 10G CODE CME/ TOTAL C8320 TOTAL TH wana SOUR GUMMIES POMEGRANATE BLUEBERRY ACAI 5:1 25 MGC PER/S DAL CO wana SOUR GUMMIES WATERMELON HYBRID ТОПАС ТНСКО М wana SOUR GUMMIES STRAWBERRY LEMONADE 1.1 5 МС ТИС РЕРЕДИНЕ / ЗИБОКОРЕЯ ТЕМНЕ TOTAL THE wana SOUR GUMMIES HANGO SATIVA SHETHEME NET MEIGHT GA NET WEIGHT RG/UNITS NETHOGENTS NET WEIGHT 9/2 TNOGHT96/2UNTS NET/2m Always Available Always Available Always Available 18#19TSXV: NDVA | OTCQX: NDVAF Products Powered by INDIVATM Powered by IndivaTM products represent that very best in quality, creativity and consistency. Indiva has partnered with award-winning producers of premium cannabis products. Through partnerships and exclusive license agreements, Indiva marries its expertise in production with the proven recipes and processes of its partners. Product packaging shown here may differ from what is sold in-store and online EDIBLES 7 Bhang Chocolate flavours in market, 3 "Always Available" on OCS. THC DARK CHOCOLATE Intended for ingestion Bhang THC MILK CHOCOLATE Intended for ingestion Bhang CBD MILK CHOCOLATE Intended for ingestion Bhang THE TOTAL 10.0 mg THE TOTAL 10.0 mg THE TOTAL 0.5 mg CID TOTAL 0.00 g CBD TOTAL 10.00 g <1.0 mg 10.0 mg. 10.00 g <1.0 mg Always Available Always Available Always Available CARAMEL DARK CHOCOLATE THC / CBD 1:1 Intended for ingestion Bhang THC ICE MILK CHOCOLATE Intended for ingestion Bhang THC COOKIES & CREAM WHITE CHOCOLATE Intended for ingestion Bhang THC CARAMEL MOCHA MILK CHOCOLATE Intended for ingestion Bhang THE TOTAL THE TOTAL 10.0 mg 10.0 mg. 10.00 q 10.00 g CBD TOTAL <1.0 mg THE TOTAL 10.0 mg THE TOTAL 10.0 mg CRO TOTAL CBD TOTAL 10.00 g <1.0 mg 10.00 g 10.0 mg EDIBLES Infused sugar, Infused salt, Fruit-based sweet tarts, launching Q3/Q4 2021 NENEM VEGAN BUTEN FREE SANS GLUTEN NON-DEM NON-O VEEAM VEDAN Ruby CANNABIS SUGAR / SUCRE DE CANNABIS 4.26 THC per unit/THC par unité 10.00 MG CHEWABLE TABLETS Jewels Powered by INDIVAT CHEWABLE MANGO TABLETS COMPRIMÉS DE MANGUE À CROQUER ESCALDES PERSO XSCALORES PARTav CHEWABLE TABLETS Jewels Powered by INDIVA CHEWABLE STRAWBERRY TABLETS COMPRIMÉS DE FRAISES À CROQUER Sapphire Powered by nonw CANNABIS SALT / SEL DE CANNABIS 0.5 G THC per unit/THC par unité CBD per unit/CBD par unité 10.00 mg Ruby CBD per unit/CBD par unité 10.00 mg ** 75CALES PER SERVIN 75CALES P 10.00 MG 19 19#20TSXV: NDVA | OTCQX: NDVAF Delivering Results to Shareholders Q3 2017 Receives cultivation licence from Health Canada Q1 2020 Closes $3.1 million convertible debenture financing • Ships pre-rolls to Alberta Q4 2017 • . Indiva completes RTO and trades on TSX Venture Exchange under NDVA Closes $1.5 million convertible debenture financing with W. Brett Wilson • Receives sales licence for extracts and edibles Q1 2018 • Begins distribution of edibles and extracts Closes $8.1 million white-label agreement with Dycar Pharmaceuticals Ltd. . Facility expansion to 40,000 square feet begins Q2 2018 . Indiva and Bhang create manufacturing and distribution joint venture Indiva enters exclusive licence agreement with DeepCell Industries Q3 2018 Receives sales licence from Health Canada Indiva begins trading on the OTCQX under NDVAF • Launches CannSell education module • Begins distribution of products to Manitoba . Signs license agreement with Wana Brands Q2 2020 • Bhang Chocolate is #1 selling edible in Ontario • Facility fully licensed as Indiva receives amendment from Health Canada Begins distribution to British Columbia . Q1 2019 Announces Q1 2020 record revenue of $2.0 million representing 522% sequential net revenue growth Announces agreement with Ontario Cannabis Store (OCS) and sales begin • Launches CBD chocolate and CBD softgels • Indiva acquires licensed facility and land Q3 2020 • Indiva signs Yukon Supply Agreement Q2 2019 • Closed first tranche of equity financing . Pre-rolls available in licensed stores • Receives licence amendment and adds additional Announced Q2 2020 revenue guidance of $2.3 to $2.8 million . Indiva reports record quarterly revenue in 2020 and guides to record Q4 revenue • . Bhang Chocolate wins "Top Edible" at SpiritLeaf Awards Wana Sour Gummies win "Edible of the Year" from KIND Magazine Q1 2021 . • . • Indiva expands national market share in edibles category to 42% Indiva pre-announces record quaterly net revenue range of $6.9 to $7.2 million for Q4 2020 Indiva announces record market share of 44% nationally in the edibles category for January 2021 Indiva closes $22 million strategic investment by Sundial Indiva and Wana extend license agreement for up to 20 years Indiva appoints Russell Wilson to its Board of Directors Indiva ships Wana Quick gummies Indiva reports record market share of 45% in the edibles category for the month of February Q2 2021 Indiva reports record net revenue for Q4 2020 and record market share in the edible categoryat 46% for March 2021 Indiva reports Q1 2021 and announces record market share in the edible category of 48% for April 2021 Indiva ranked 9th in overall market share in April 2021 as per OCS data Indiva ranked 11th in overall market share nationally in May 2021 . processing rooms and three flower rooms Q3 2019 Received $1.1 million of purchase orders for Wana Gummies Senior debt maturity extended to October 2021 • Announces supply agreement with Société québécoise du cannabis (SQDC) Closes $5.17 million equity placement • Signs distribution agreement with CannMart ⋅ Launches premium flower brand: Artisan Batch . Q4 2019 • Closes non-dilutive $11 million debt financing Announces record revenue for Q2 2020 Indiva ships Wana Sour Gummies . • Receives licence amendment to double flower capacity Indiva attains #1 market share in edibles in Ontario at 28.8% and open new processing space for pre-roll and edibles production . Expands distribution to six provinces . Indiva begins manufacturing of edibles . Ships pre-rolls to Saskatchewan • Ships pre-rolls and flower to Quebec Q4 2020 • Indiva pre-announces record quaterly net revenue range of $2.8 to $3.1 million for Q3 2020 and record monthly net revenue for September 2020 Indiva secures agreement to supply cannabis products to Medical Cannabis by Shoppers 20 20#21TSXV: NDVA | OTCQX: NDVAF Investor Relations Contact Information INDIVA OUR ROOTS RUN DEEP 1050 HARGRIEVE RD Niel Marotta President & CEO Anthony Simone Investor Relations T: 416-881-5154 E: [email protected] www.indiva.com f @indivalife LIN FE