#1FLORA GROWTH OCTOBER 2022 Investor Presentation FLORA GROWTH#2Cautionary Statement Concerning Forward-Looking Statements. This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: expected future revenue, integration of our recent acquisitions, expansion of our global footprint, expansion of our product offerings; our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should,” “expects,” “anticipates," "contemplates,” “estimates,” “believes,” “plans," "projected,” “predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law. About non-IFRS financial measures to supplement our condensed consolidated financial statements, which are prepared and presented in accordance with International Financial Reporting Standards ("IFRS"), we use the following non-IFRS financial measures: Adjusted EBITDA and Adjusted EBITDA margin. Adjusted EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates adjusted EBITDA as total net loss, plus (minus) income taxes (recovery), plus (minus) interest expense (income), plus depreciation and amortization, plus (minus) non-operating expense (income), plus share based compensation, plus impairment charges, plus (minus) fair value adjustments on investments, plus charges related to the flow-through of inventory step-up on business combinations, plus other acquisition and transaction costs, plus (minus) non-cash fair value adjustments on the sale of inventory and biological assets. Adjusted EBITDA margin % is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates adjusted EBITDA margin % as adjusted EBITDA, as described above, divided by revenue for the period. FLORA GROWTH 2#3FLORA GROWTH 3#4At Flora, we believe the future of the cannabis industry lies in the ability to bring products and medications to communities around the globe. We are accomplishing this through world-class natural farming and manufacturing, thoughtful brands that reach consumers in every corner of the market and through the rigorous research and development of medical-grade products that patients can trust. Our mission is to build a design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. FLORA GROWTH 4#5Meet a Few Members of Leadership. Luis Merchan Chairman & CEO Luis Merchan is a proven executive with over 10 years of experience in enterprise sales management, corporate strategy, merchandising and expense management and customer experience. He previously served as Vice President of Workforce Strategy and Operations for Macy's Inc. where he managed the enterprise's P&L expense line for its 540-store portfolio. Throughout his tenure at Macy's, prior to his most recent role, Mr. Merchan held various executive-level roles at Macy's as well as managerial roles at Target. Mr. Merchan obtained his Bachelor of Industrial Engineering from Pontifical Xaverian University in Bogotá, Colombia and his MBA from McNeese State University. Mr. Merchan also holds a Graduate Certificate in Marketing Management from Harvard University and is NACD Directorship Certified. James Choe Chief Strategy Officer James Choe joins Flora's team as Chief Strategy Officer. Choe was the founder and CEO of Vessel that was acquired in November 2021 by Flora Growth. Choe got his first taste of startups in 1999 with broadband pioneer Softnet Systems in Mountain View, CA. After building the business to prominence and growing to more than 400 employees, Choe left to pursue his heart's passion - a career in the sports industry where he would represent athletes in the Olympics, NFL, MLB, NHL, Lacrosse and Action Sports for over 12 years.. Throughout his 20-year career, Choe has mentored and consulted over 100 brands to date, while he has also led the design, development and successful launch of more than 400 products across nearly all CPG categories. Originally from Saratoga, CA, Choe graduated from San Diego State University. Jessie Casner Chief Marketing Officer Jessie Casner joins Flora as Chief Marketing Officer and was previously the Vice President of Marketing for Vessel Brand, the recently acquired ancillary accessory brand based in Carlsbad, California. An experienced omnichannel marketer and storyteller, Casner previously operated her own agency, Junction Marketing, where she developed and executed bespoke go-to-market strategies. An early team member of The Active Network during its rapid growth phase (pre-IPO and acquisition), MOGL (now EMPYR, during series A/B funding), 2XU, and Total Gym, Casner brings a strong knowledge and background in the startup, CPG, cannabis, sports and apparel industries. Casner in her role with the company, will lead the communications and narrative building for Flora and all subsidiary brands as well as craft the plan for Flora brand awareness activities in both the consumer and investor markets. Elshad Garayev Chief Financial Officer Garayev brings over 25 years of experience in finance supporting successful organizations through the development and implementation of accounting and reporting policies as well as building high-performance finance teams. Garayev has served in a variety of financial leadership roles at companies such as Amazon, Boeing BP and RPK Capital, managing a diverse array of initiatives at various companies. As CFO, Garayev will focus on financial controls and governance, management of cash position to optimize the utilization of resources across the organization and continued evolution of systems and processes as Flora moves towards quarterly financial reporting. Garayev will also play a critical role in assisting in the execution of Flora's strategy to drive profitable growth and enhance shareholder value. Dr. Annabelle Manalo-Morgan Director and Lead Scientist Dr. Annabelle is a scientist, educator, author, mother of five, and a respected key opinion leader. She is a cell and developmental biologist from Vanderbilt University in Nashville, Tennessee, with a background in neuroscience from Georgetown University. She earned her Ph.D. in Cell and Developmental Biology with a focus in Cardio-Oncology and has since become a philanthropist and entrepreneur focused on pharmaceutical innovation and clinical trial research in medical cannabis. FLORA GROWTH 5#6OUR STRATEGY Growth Strategy Highlights. CONSUMER House of Brands Our highly curated brand portfolio currently represents 85% of Flora's total revenue, and is responsible for the rapid global expansion realized by the company over the last 12 months. Consumer brands allow Flora to move assertively into nascent markets, develop customer bases and distribution channels and gather consumer insights which would not be possible with traditional cannabis sales. Through this channel we build loyalty, credibility and enjoy healthy margins that help to support the rapid growth of the business. O 2019 Present COMMERCIAL Cultivation and Transformation With a unique cultivation facility and four laboratories, Flora is able to meet the growing and evolving needs of the global cannabis trade. With the cultivation of high-THC and high-CBD flower, and the ability to transform the raw goods into derivatives Flora has quickly built the necessary infrastructure to support the export / import of cannabis in key global markets as the trade moves away from geo-fenced, regional activities to international supply chain adoption. O 2022 DEVELOPMENT Life Sciences Through the rigorous research and development of plant-based medicines, Flora seeks to upend how pharma-grade cannabis products are brought to market. The Life Sciences arm is actively developing targeted medicines for markets around the world, pursuing clinical trials, and bringing to market products consumers and doctors can trust. 2023 FLORA GROWTH 6#7DISTRIBUTION Brand and/or Raw Materials MANUFACTURING CULTIVATION 34 OUR STRATEGY Expanding Global Footprint. FLORA GROWTH 7#8HOUSE OF BRANDS Consumer Access. Flora's brand portfolio allows for rapid global expansion, consumer insights and market penetration in key geographies. JUSTCBD Leading CBD brand in North America, with best selling gummies, topicals and pet products. 500k Direct to consumer relationships VESSEL High end vaping and dry herb accessory products 15,000+ Points of distribution around the world NO CAP HEMP CO Specialty flower and minor cannabinoid products 14 Number of countries where products are sold 16 Number of +$1 million product franchises •MAMBE. Food and Beverage products with South American Endemic ingredients 8 Consumer focused brands in markets around the world FLORA GROWTH 00#9COMMERCIAL High-Margin Colombian Cannabis Cultivation. Price Per Gram $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 Flora's Cost Advantage. $0.06 Flora Growth Cleaver Leaves Village Farms SOURCE: Each company's filings and presentations Auxly Aurora 247 Acres of licensed cannabis grow Location. Slopes of Bucaramanga 3,000+ feet above sea level, deep agricultural history $10/acre Long-term monthly lease w/ purchase option Climate. 12+ hour days, 3-mph winds 365 days a year > $150 Monthly utility costs Natural resources. Sunlight, natural spring water deposits, and nutrient-dense soil The Colombian Advantage An administration focused on progressive cannabis regulation including streamlining export processes, insurance coverage for cannabis prescriptions, and eventual recreational legalization in the country The ability to produce high-quality, high-margin product that leverages Colombia's geo-advantageous location; over 70% of all cut flowers imported to U.S. come from Colombia 1 https://mjbizmagazine.com/great-cultivation-debate (5/2017) A highly-skilled workforce in agriculture at only 1/10th of the cost compared to the United States¹ FLORA GROWTH C#10COMMERCIAL Overview of Flora Labs. Flora Labs are our manufacturing and R&D centers that produce pharmaceuticals, cosmetics, nutraceuticals for domestic and international markets. This includes product lines that are private label, white label, and custom formulations. Flora Lab 1 (FL1) Flower and Derivatives Bucaramanga, Colombia A 10,500 sq. ft. on-site at Flora's cultivation facility, this EU-GMP spec built lab processes and transforms raw cannabis into export goods and raw materials for inclusion in Flora's product portfolio. Flora Lab 2 (FL2) Topical, Capsules, and Dietary Supplements Bogota, Colombia A 16,000 sq. ft. facility holding three GMP licenses, built to formulate consumer packaged goods for both Flora brands and white label customers. SCHERAP936 3 Flora Lab 3 (FL3) Ingestibles, Gummies, Tinctures Ft. Lauderdale, Florida 18,000 sq. ft. GMP facility built to develop and transform consumable goods for Flora brands and white label customers. Flora Lab 4 (FL4) (coming soon) Compound Pharmaceutical Grade Formulas Bogota, Colombia This lab will be a 2,300 sq. ft. state of the art Life Sciences division lab, formulating custom and proprietary pharmaceuticals for sale and use in Colombia. FL4 will launch eight registered formulation in Q4 '22 that target specific ailments such as insomnia, epilepsy, and anxiety. FLORA GROWTH 10#11LIFE SCIENCES Building the Future. Research. Helmed by Director and Lead Scientific Advisor, Dr. Annabel Manolo-Morgan, PhD, Flora's research arm seeks to support leading scientists and research institutions such as Vanderbilt University and the University of Manchester to advance access to and research of cannabinoid-based medicine. Delivery. Flora Life Sciences is ground zero for product innovation. Flora now has 8 patent-pending formulations, designed for use in the treatment of specific ailments such as insomnia, epilepsy, anxiety, and pain. The revenue from pharmaceutical and clinical-grade products can directly fund future clinical trials. Efficacy. Flora Life Sciences looks to identify the most efficacious combination of plant-based compounds and derivatives to provide consumers with products that satisfy the commitment to better living through thoughtful and curated wellness products. MAGISTRAL 300 MAGISTRAL MAGISTRAL MAGInst NEW FORMULATIONS AVAILABLE Q4 2022 PURE 3000 MAS AYA A HINT OF MINT PURE 3000 WITH THE THU MAS AYA 3000 MG CBD/30mL ZERO THC (0%) FLORA GROWTH 11#12FLORA GROWTH PERFORMANCE A Growth Company 2019-2022 Revenue Performance (Revenue in $ Millions) 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 2019A 2020A 2021A Actual and Projected Revenues 2022P Financials - Six Months Ended June 2022 Revenue Cost of Sales Gross Profit Before Fair Value Adjustments Gross Profit Operating Expenses Operating Loss Net Loss for the Period Other Comprehensive Loss Total Comprehensive Loss for the Period Adjusted EBITDA Capital Structure - Outstanding Shares Shares Outstanding Options & Warrants Fully-Diluted Shares $14,917 $8,415 $6,502 $ 6,546 $37,660 $ (31,114) $ (32,716) $ (567) $ (33,283) $ (8,200) 76.9M 12.8M 89.7M FLORA GROWTH 12#13FLORA GROWTH Investment Highlights One of the largest international cultivators, manufacturers and distributors of plant-based wellness and consumer lifestyle products. Both organic and inorganic growth strategy to drive global expansion of THC and non-THC products, projecting 300% - 400% growth for 2022. High-quality, high-margin Colombian cultivation and processing infrastructure that leverages geographical and environmental advantages to create high-quality, plant-based products at scale. Highly skilled and seasoned management team with deep experience in consumer product development, brand building and supply chain logistics. FLORA GROWTH 13#14FLORA GROWTH Thank You. FLORA GROWTH#15FLORA GROWTH Appendix Board of Directors FLORA GROWTH 15#16Meet Our Board of Directors. Luis Merchan Chairman of the Board (see page 4) Dr. Annabelle Manalo-Morgan Director (see page 4) Tim Leslie Director A Yale law graduate, Leslie has a strong pedigree of success, working with scaling companies including his two decades at Amazon, where he served as Vice President and Associate General Counsel responsible for building and managing Amazon's international legal team before changing roles to oversee the international launch of Amazon Prime Video. Following his successful tenure at Amazon, Leslie made the leap to the burgeoning cannabis industry where he served as CEO of one of the world's most authoritative digital cannabis data sources, Leafly. Since his time there, Leslie has served on the board of renowned cannabis companies before his appointment as Chairman of the Board of Advisors at Flora. Marc Mastronardi Director Marc Mastronardi is a seasoned executive and current Chief of Stores of Macy's. Prior to his current role, Mastronardi was Macy's Senior VP of Store Operations and Customer Experience, where he was responsible for enterprise-wide store operations, sales, and customer service. Mastronardi has also led multiple functions within the organization, responsible for the creation and expansion of new business concepts, leased partnerships and diverse owner-led businesses. Mastronardi currently serves on the board of Delivering Good, NYC, the executive committee of the Fashion Scholarship Fund, and is the executive sponsor of the Macy's Working Families Employee Resource Group. Brandon Konigsberg Director Brandon Konigsberg is a seasoned leader in finance and will focus on Flora's key growth drivers to advance the Company's global expansion. Konigsberg is a former executive of JP Morgan Chase (JPMC), and has held various leadership roles, serving as CFO and COO for various growing and turnaround business units. After 20 years at JPMC, Konigsberg retired to focus full-time on consulting, advising and entrepreneurial endeavors. He is currently the President and CFO of Fynn, an education financing company he joined as a consultant in 2020. Konigsberg also holds various board director, chair and audit committee memberships including Chicago Atlantic Real Estate Finance, Inc., a specialty mortgage REIT focused on lending to cannabis companies since its IPO in 2021. Juan Carlos Gomez Director Mr. Gomez is a proven business leader with over 30 years of professional experience working for multinational public companies. He brings substantial experience in the Latin American market, across a variety of business competencies including business operations, M&A, business integration and corporate governance. For the past 20 years, Mr. Gomez served as the COO, and eventually as CEO of the Winner Group, CIRSA, owned by the Blackstone Group, where he was responsible for growing the company to become one of the largest 100 companies in the country through meaningful organic and M&A driven growth initiatives. This included expansion across 28 cities and more than 2,800 staff. Mr. Gomez obtained his bachelor's degree in Organizational Psychology from the University of Santo Tomas in Colombia. Dr. Beverley Richardson Director Dr. Beverley J. Richardson is a renowned psychotherapeutic practitioner whose collaborative efforts and clinical influence are reflected in some of the most compelling and effective addiction and behavioural health programs in North America which include: Sierra Tucson (Arizona), the Meadows (Arizona) and Betty Ford Centre (California). She has a Doctorate Degree in Psychology and is a B.C. Registered Clinical Counsellor, Internationally Certified Eating Disorder Specialist, and EMDR Level II Trauma Therapist. Dr. Richardson has integrated her extensive experience in health and wellness with her entrepreneurial spirit to form her nutraceutical and bioscience research and development enterprises. FLORA GROWTH 16