#1ORGANIGRAM INVESTOR PRESENTATION NASDAQ (OGI) TSX (OGI) Q1 Fiscal 2024 12|31|23 1#2CAUTIONARY STATEMENT This document is current as of December 31, 2023, except where otherwise stated. The information contained in this presentation is provided by Organigram Holdings Inc. ("Organigram" or the "Company") for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Organigram or other financial products. No part of this presentation shall form the basis or be relied upon in connection with any contract, commitment or investment decisions in relation thereto. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. No securities commission or similar regulatory authority in Canada or the United States has reviewed this presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and condusions contained in this presentation. This presentation is not meant to provide a complete or comprehensive analysis of Organigram's financial or business prospects. To the maximum extent permitted by law, none of Organigram nor its directors, officers, employees or agents, nor any other person accepts any liability, induding, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. This presentation contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words and phrases or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, perfomance or achievements expressed or implied by the forward-looking information contained in this presentation. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information indude factors and risks as disclosed in the Company's most recent annual information form, management's discussion and analysis and other Company documents filed from time to time on SEDAR+ (see www.sedarplus.com) and filed or fumished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information induded in this presentation is made as of the date of this presentation and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The descriptions of the terms of the agreements referenced in this release are qualified by the terms of the agreements themselves, copies of which shall be filed under Organigram's profile on SEDAR+ (see www.sedarplus.com) and filed or fumished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). The financial information in this document contains certain financial performance measures that are not defined by and do not have any standardized meaning under IFRS and are used by management to assess the financial and operational perfomance of the Company. These indude adjusted EBITDA and adjusted gross margin (adjusted gross margin %). The Company believes that these non- IFRS financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company's operating results, underlying performance and prospects in a similar manner to the Company's management. As there are no standardized methods of calculating these non-IFRS measures, the Company's approach may differ from those used by other issuers, and accordingly, the use of these measures may not be directly comparable. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For further information regarding these non-IFRS measures, induding definitions, and a quantitative reconciliation to the most directly comparable IFRS measure, see the information under the heading "Cautionary Statement Regarding Certain Non- IFRS Measures" and the reconciliation to IFRS measures under the heading "Financial Results and Review of Operations" in the Company's management discussion and analysis of financial conditions and results of operations for the three months ended December 31, 2023 and November 30, 2022 (the "Q1 Fiscal 2024 MD&A") incorporated by reference in this presentation and filed under Organigram's profile of SEDAR+ (see www.sedarplus.com) and filed or fumished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). This presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act") ("U.S. Person"), or in any other jurisdiction in which such an offer would be illegal. Organigram's shares have not been and will not be registered under the Securities Act. We seek safe harbour. This document may not be reproduced, further distributed or published in whole or in part by any other person. This document may only be disseminated or transmitted into any jurisdiction in compliance with, and subject to, applicable securities laws. Readers are required to ensure their compliance with applicable securities laws. This investor presentation contains information concerning our industry and the markets in which we operate, induding our market position and market share, which is based on information from independent third-party sources. Although we believe these sources to be generally reliable, market and industry data is inherently imprecise, subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties inherent in any statistical survey or data collection process. We have not independently verified any third-party information contained herein. ORGANIGRAM 2#3WHO WE ARE Founded in 2013, we are an award-winning cannabis licensed producer with operations spread across Canada {0}) Our Vision: To be a respected global leader in the emerging cannabis movement KING magazine 2022 ORGANIGRAM Licensed Producer of the Year 2022 KING magazine EDISON JOLTS ARCTIC CHERRY SATIVA LOZENGES EDISON JOLTS FRESHLY MINTED SATIVA LOZENGES EDISON JOLTS ELECTRIC LEMON SATIVA LOZENGES 100k 100% 100 MOST INNOVATIVE EDISON PRODUCT OF THE YEAR JOLTS Our Mission: To delight consumers with trusted brands that deliver innovative cannabis products and experiences while promoting education and industry advocacy SHREDX RIP-STRIP HASH SHREDY RIP-STRIP HASH blueberry blaster SHREDX RIP-STRIP HASH tropic thunder KING AWARDS 2023 INNOVATION OF THE YEAR Olgengan inc WINNER KING Innovation of the Year Award! CHRED Rip Strips РИТУ ORGANIGRAM 3 2023#4OUR STRATEGY INNOVATION CONSUMER FOCUS EFFICIENCY EXPANSION Leverage our brands, product portfolio and culture of innovation to: Increase market share Drive profitability Reach Deliver long-term shareholder value new markets ORGANIGRAM 4#5NEAR-TERM STRATEGY Organigram continues to demonstrate a track record of innovation informed by consumer research, resulting in market share increases in several categories • • • Revolutionized hash with patent pending SHRED X Rip-Strips First to market with ingestible extracts and milled flower Introduced whole-flower derived THCV products to the Canadian consumer • • Pink yuzu gummies - 2:1 THC:THCV Guava Lime Go-Time Heavies THCV milled flower Launched revolutionary vape hardware to address growth in the category INNOVATION CONSUMER FOCUS • • Expanding into familiar formats with tube-style pre-rolls Planning launch of nano-emulsion gummies with clinically studied benefits Leverage our brands, product portfolio and culture of innovation to: Increase market share Drive profitability ORGANIGRAM 5#6LONG-TERM STRATEGY Organigram has strategically deployed capital to fuel automation, production efficiency, and product consistency needed to attract and retain international distribution partners • Production and packaging lines for gummies, milled flower, and pre-rolls are now highly automated Conversion of portion of grow rooms to seed-based production in F2024 drives product consistency and further cost savings $124.6M follow-on investment from BAT to fund international and strategic growth initiatives² $18.9M in international sales in F2023 (Australia & Israel). German shipments commenced in January 2024, and UK shipments expected to commence within the coming months. EFFICIENCY EXPANSION Leverage our brands, product portfolio and culture of innovation to: 1. British American Tobacco p.l.c., ("BAT") strategic investor in Organigram. 2. Announced on November 6, 2023. Deliver long-term shareholder value Reach new markets ORGANIGRAM 6#7ESTABLISHED TREND OF REVENUE GROWTH ORGANIGRAM Annual Revenue $ millions $103.3 $97.5 $86.7 $80.4 $79.1 $109.8 $209.1 $161.6 $145.8 $233.6 F2019 F2020 F2021 F2022 F2023 1 ■Net Revenue ■ Gross Revenue 1. F2023 represents 13 months due to a change in Organigram's year end. 7#8• ORGANIGRAM KEY STRENGTHS *** STRONG BALANCE SHEET Negligible debt (less than $0.2M) $54.6M in cash1 Balance sheet to be further strengthened by $124.6M follow- on commitment from BAT announced Nov ember 6, 2023 STATE-OF-THE- ART FACILITIES Moncton facility is one of the largest indoor cannabis facility in the world Centre of Excellence, an R&D collaboration in partnership with BAT Dedicated edibles facility in Winnipeg, MB Craft cultivation and hash facility in Lac- Supérieur, QB · HIGH PERFORMING $233.6M gross revenue in FY2023 • #2 in national market share² . #1 market share in milled flower and hash² • #2 market share in gummies² #3 market share in pre-rolls and flower² NATIONAL & INTERNATIONAL REACH National sales and distribution in all 10 Canadian provinces and the Yukon Serving international markets via export permits Creation of project Jupiter - an $83 million strategic investment pool focused on international markets • INNOVATION FOCUS First to market with multiple award- winning innovative formats EXCELLENCE IN EXECUTION Consumer insights- focused leading to brand & product excellence PDC with BAT for long term research and IP Launched exclusive new vape hardware in Q2 F2024 Invested in seed- based production and in biosynthesis Track record of successful post-M&A integrations Responsible capital stewardship resulting in flexibility in tough market conditions ORGANIGRAM 1. Including restricted cash as of December 31, 2023. 2. As of December 31, 2023 - Multiple Sources (Hifyre, Weedcrawler, provincial boards, internal modelling). 8 00#9BAT INVESTMENTS IN ORGANIGRAM • March 2021 $221 million strategic investment from subsidiary of BAT for 19.9% equity interest in Organigram • Product Development Collaboration (PDC) with formation of a Center of Excellence (COE) at our Moncton campus Focused on developing the next generation of cannabis products, IP and technologies November 2023 - $124.6 million follow-on investment from subsidiary of BAT in three equal tranches between January 2024 and February 2025 for: 45.0% economic interest in Organigram (accreting to maximum • . of 49.0%), voting interest capped at 30.0% with maximum 30.0% Board rights Private placement at C $3.2203/share2 yielding $124.6 million Organigram to create a Strategic Investment Pool named Jupiter, to be funded with C$83.1 million over the course of the three tranches of the investment Jupiter will target investments in emerging cannabis opportunities that enable Organigram to apply industry-leading capabilities to new markets, thus expanding its global footprint • $41.5 million proceeds for general corporate purposes First $41.5 million tranche closed in January 2024 1. Calculated on a non-diluted basis. 2. On the last trading day pre-announcement (November 3, 2023) of the transaction. Organigram shares closed at C$1.59/share on the Toronto Stock Exchange. ORGANIGRAM BAT ORGANIGRAM 9#10PRODUCT DEVELOPMENT COLLABORATION Organigram and BAT contributing complimentary capabilities and sharing a commitment to responsible category stewardship. The PDC continues to focus on the development of next generation products, adhering to the highest regulatory and compliance standards Collaboration Highlights • • Since March 2021, following a C$221 million strategic investment from BAT subsidiary, the partnership has gone from strength-to-strength Significant achievements have materialized from a scientific development standpoint in terms of revenue driving product capability Organigram has benefitted from BAT's deep understanding of plant science and device and product technology BAT has gained substantial knowledge from Organigram with respect to the cannabis plant and product category The PDC is in late-stage development of a suite of emulsions, novel vapour formulations, flavour innovations, and packaging solutions which are to be applied across some products in Organigram's portfolio in calendar year 2024 For ingestible innovations, Organigram has completed pharmacokinetic (PK) studies to substantiate benefits of emulsification technologies and analysis of results is underway BAT A BETTER TOMORROW "PDC" ORGANIGRAM Dedication to Research and Product Development ORGANIGRAM 10#11JUPITER INVESTMENT APPROACH Jupiter will target investments in emerging cannabis opportunities 1 Priority Investment Pillars • . • • All potential investments will be made against Organigram's strategic vision for the future, focusing on long-term sustainable growth and global cannabis leadership Targeting investments that will enable Organigram to apply its industry- leading capabilities to new markets Jupiter to be set-up and managed by an internal team at Organigram Internal team will be focused on sourcing future investments, enabling both an entrepreneurial approach and application of best-in-class knowledge All investments will go through legal due diligence, ensuring compliance with both applicable laws and Organigram's listings on the NASDAQ & TSX Geographies 3 USA Emerging global markets Sectors Adult-use THC Hemp-derived CBD/CBD+ (minor cannabinoids) CPG Cannabis ancillary 2 Categories & Tech Non-combustible . • • inhalation Edibles Beverages Novel IP & devices 4 ORGANIGRAM Value Chain Segments • • Genetics Product development Brand 11#12• STRATEGIC INVESTMENTS IN INNOVATION Organigram has a track-record of first-to-market innovations and is positioned to realize defensible competitive advantages from investments in technology First-to-market Successes Milled flower with custom flavour blends introduced under Organigram's highly successful SHRED brand Patent pending Rip-Strip hash - a revolutionary new way for consumers to experience Hash Edison JOLTS-the first patented ingestible extract introduced to the Canadian consumer Canada's only whole-flower derived THCV portfolio - THCV is a minor cannabinoid touted for its appetite suppressing qualities EDISON SHREDEMS GUAVA LIME GO-TIME ng THC 10 mg THCV PER PACK SATION GUAMARS EDISON JOLTS ELECTRIC LEMON SATIVA LOZENGES JOLTS FRESHLY MINTED SATIVA LOZENGES SHREDX RIP-STRIP HASH 10 STRIPS |2g|35%+ THC 100 00 blueberry blaster nder • . • Growing Portfolio of Competitive Technologies The PDC is in the late-stage development of product innovations which are planned to be applied to certain products within Organigram's portfolio in calendar 2024 Organigram's facility CAPEX projects focused on production & packaging automation and internalizing testing & remediation are complete and expect to realize annual cost savings in F2024 Investment in Green Tank Technologies Corp. ("Greentank") vaporization hardware to solve pain points in flavour performance and clogging Investment in US-based Phylos Bioscience Inc. ("Phylos") provides exclusive access to high-THCV cultivars and technical know-how. As a result, Organigram has begun transitioning a portion of its grow rooms to cost-effective, seed-based production, and this is expected to yield more robust and consistent harvests while reducing grow time and production costs ORGANIGRAM 12 12#13• DOMESTIC & INTERNATIONAL EXPANSION Organigram continues to grow domestic market share in key categories and over-indexes in international sales as a proportion of Canadian exports: Canadian Market #2 market share position in Canada¹ #2 market share in gummies¹ #1 market share in milled flower and hash¹ #1 market share in the Maritimes, and #3 in Ontario and Quebec, two of Canada's largest markets¹ Expanding market share in the rapidly growing pre-roll category after recent highly successful launches of tube-style pre-rolls and diamond + distillate infused-pre-rolls, resulting in claiming the #3 position in the overall pre-roll category¹ • Rest of World In F2023 Organigram shipped an estimated 10% of all exported product from Canada² to international markets (including Israel and Australia) New supply agreements signed with Sanity Group GmbH ("Sanity Group") in Germany and 4C Labs Ltd. in the UK expected to bolster international sales in Fiscal 2024 - First flower shipped to Germany in Q1 F2024 In F2023 Organigram shipped C$18.9 million in flower vs. C$15.1 million in F2022 ORGANIGRAM 1.As of December 31, 2023 - multiple sources (Hify re, Weedcrawler, provincial boards, internal modelling). 2. Measured by dollar value and sourced from BDSA, available Statistics Canada data & internal shipped sales data. 米 13#14• STATE OF THE ART FACILITIES Organigram's legacy of execution excellence & stability is established in the Canadian market, supported by three fully-scaled, state-of-the-art facilities: Moncton One of the largest indoor cannabis facilities in the world ~85,000 kg/year of low-cost, high-quality indoor flower Over 130, three-tiered, modular, strain- specific grow rooms provide the ability to control critical environmental requirements per strain 11 additional plant science rooms for testing prior to commercial launch Utilizes low-cost, high-yielding, LED lighting Home to the BAT-Organigram joint R&D Center of Excellence • Winnipeg 51,000 sq. ft. edibles facility with automated cutting-edge equipment capable of producing up to 4 million gummies monthly Designed to produce nutraceutical-grade cannabis edibles including pectin, gelatin, and sugar-free soft chews, toffee, and caramel with novel capabilities Lac-Supérieur Producing hang-dried, hand-trimmed, artisanal craft cannabis and premium Afghan-style hash Hash production capacity of 2 million units per year Greenhouse expansion from 600kg/yr to 2,400kg/yr of craft flower recently completed with first harvest completed in December 2023 57#15BRAND PORTFOLIO 15#16WELL-ROUNDED BRAND PORTFOLIO BIG BAG O' BUDS HOLY MOUNTAIN SHRED monjour Trailblazer EDISON FLEUR ARTISANALE TREMBLANT LAURENTIAN CANNABIS CO THE ART OF HASH L'ART DU HASCHISH CRAFT FLOWER Pricing Segment Available Planned Formats S Super Value Value Value Mainstream Mainstream Mainstream Premium Craft Whole Flower Tangible Brand Attributes Strain Specific Flower High Quality Genetics Good value ORGANIGRAM Whole Flower Pressed Hash Pre-Milled Flower, Pre-Roll Joints, Infused Gummies, 510 Vape Carts, Rip-Strip Hash & Infused Pre-Rolls CBD & Minor Cannabinoid Gummies Pre-Rolls, Infused Pre-Rolls, THC & Minor Cannabinoid Gummies Whole Flower, Pre-Roll Joints & Lozenges Iconic Strains High Potency Products Killer Prices Good THC Potency Great Value Big Flavour Assorted Flavours Vegan & Sugar-free Offerings Hashish, Hash Infused Pre-rolls & Pre-rolls Whole Flower Pre-Roll Joints Assorted Flavours Vegan & Sugar-free Offerings Potent & Flavourful Strains Unparalleled Genetics Strain Specific Grow Rooms Authentic Recipes High Potency Hash Hand Trimmed Hand Packed Hang Dried 16#17DYNAMIC BRAND PERFORMANCE NEW SHREDY RIP-STRIP HASH 35%+ THC VEGAN CBD CUMMIS JUST 1 RRRRIP IT! RIP IT SAVEDX P-STRIP HASH tropic thunder SHREDX CIP STREP HASH Hueberry blaster 2g 10 HASH STRIPS STRIP IT GO! Terp-infused Hash for Weed Fans monjour BERRY GOOD DAY 30 TREMBLANT AFGHAN BLACK HASH THC 35-438 76 Rip-Strip Hash on a Tear • Launched in March 2023 • Over 330K units shipped approaching $9.9 million in retail sales as of January 31st, 20241 ORGANIGRAM • Monjour Market Share Up by 14.3% MS Points vs. Prior Year¹ Monjour Holds 62% of the pure- CBD national market share as of Q1 20241 Organigram is the #1 LP in Concentrates Organigram holds >21% of national market share in Hash as of fiscal Q1, 20241 1.As of February 6, 2024 - Multiple Sources (Hify re, Weedcrawler, provincial boards, internal modelling). 17#18DYNAMIC BRAND PERFORMANCE ULTRA HEAVY 40%+ THC SHREDY HEAVIES HEAVIES SHRED Not for Lightweights. MO 2080 2080 208802 208 HOLY MOUNTAIN HOLY SMOKES OUNTAL 10 x 0.46 TUBE STYLE PRE-ROLL 20%+ THC HOLY SMOKES ONE SLIM ROLL TO RULE THEM ALL ASK YOUR BUDTENDER! SHRED X Heavies -40%+ THC Infused Pre-Rolls (IPRS) IPR's are the biggest contributor for growth in Canada (40% of overall growth came from IPRs) 1 As of L4W January 31, 2024, Organigram is #2 in infused pre-rolls1 ORGANIGRAM • • Tube Style Pre-Rolls Tube style pre roll segment growing at 52% year- over-year versus cones at 0.8% (Q1 vs LY) 1 Organigram market share in tube-style pre-rolls is 15.7% in L4W as of January 31, 20241 1.As of February 6, 2024 - Multiple Sources (Hifyre, Weedcrawler, provincial boards, internal modelling). 18#19STRATEGIC INVESTMENTS 19#20QUANTUM VAPE INVESTMENT IN DISRUPTIVE SHREDX VAPING TECHNOLOGY • In March of 2023, Organigram invested C$5.5M into Greentank, a vape R&D firm and hardware manufacturer COLDER VAPOUR 50% colder vapour* vs. leading ceramic based heating technology • Greentank's heating technology is the first meaningful innovation in the vape space in almost a decade. • Invented a novel heating element which replaces ceramic which will produce more consistent flavour, reduce clogging and produce smaller particle size which may increase potency • With an 18-month exclusivity period, it will transform Organigram's vape hardware line-up and enhance market position. • Commercialization began in Q2 F2024 ORGANIGRAM HER PUCKER P A LIME GO RAPPLE JU SPRED SARETX FRESHER FLAVOUR First-Puff flavour from start to finish (no ceramic burnt oil taste!) DEEPER HITS Smaller vapour particles for smoother, deeper tokes SPREDX LONGER BATTERY LIFE Less vapourizing power required = 30% longer battery life* *Based on initial lab testing vs. leading ceramic based heating technology#21• INVESTMENT IN SEED GENETICS & THCV In May of 2023, Organigram made its first investment into the U.S cannabis market by issuing a strategic convertible loan to Phylos Po వి phylos Phylos will enable Organigram to accelerate the launch of products containing THCV in the Canadian market – THCV provides consumer with a differentiated experience compared to THC (appetite suppression, no cognitive impairment, energizing and focusing effect) Organigram will significantly reduce operating costs by transitioning its flower production from cloning to seed which reduces the need for cloning, propagation, and pre-vegetation Seed-based cultivation using "F1" seeds produces more robust and consistent plants, yielding consistent cannabinoid and terpene profiles, uniform size, and other desirous qualities. • • In Q1 F2024, due to the achievement of THCV concentration and aroma specific milestones from F1 seeds, Organigram advanced the second tranche of US$2.75 million to Phylos for a total current investment of US$6.0 million in senior secured convertible loans First seed-based room planted in Q1 F2024 to begin transition of a portion of Moncton facility to growing from more cost-effective and consistent F1 seeds 238 185H ORGANIGRAM#22INVESTMENT IN DISRUPTIVE TECHNOLOGY-BIOSYNTHESIS hyasynth 49% ownership (if convertible debt converted) of Hyasynth Biologicals Inc., a pioneer in cannabinoid science - supply agreement in place • Biosynthesis process uses patent-pending yeast strains and enzymes to produce pure cannabinoids (not synthetic) without growing cannabis plants Potential to create a scalable supply of pure cannabinoids at a fraction of the cost and time of traditional cultivation using smaller environmental footprint BIOSYNTHESIS A proprietary cannabinoid manufacturing system that can product rare cannabinoids. How it works? Biosynthesis can be used to produce cannabinoids that are identical to those produced by the plant itself. 1 Genome engineering of yeast: A group of genes for cannabinoid production are added to the yeast genome of a yeast strain, where it provides instructions to produce cannabinoid compounds. Yeast fermentation and purification: New yeast strains are grown in fermentation over a few days and pure cannabinoids are extracted at the end of the process. 3 2 The process is conducted at large scale, resulting in pure cannabinoids that can be used as ingredients in other products. ORGANIGRAM#23INTERNATIONAL 23#24SIGNIFICANT INTERNATIONAL SALES GROWTH INTERNATIONAL NET REVENUE1 $ millions High margin international sales expected to increase further in F2024 1. International shipments do not attract Canadian Federal excise taxes and therefore gross, and net revenues are equal. 2. F2023 represents 13 months due to a change in Organigram's year end. ORGANIGRAM $3.8 $15.1 $18.9 Cumulative Pre-F2022 F2022 F20232 2 24#25INTERNATIONAL BUSINESS Sanity Group . • In F2023 shipped $18.9 million in flower vs. $15.1 million in full year F2022 ⚫ In Q1 F2024, Organigram shipped $1 million in flower to Australia ⚫ May 22, 2023: announced a new agreement to supply the German medical market through Sanity Group January 2024: First shipment of flower sent to Sanity Group in Germany August 15, 2023: announced a new supply agreement with 4C Labs to supply medical cannabis to UK market with first shipment expected in the coming months CANNDOC CANNATREK™ From seed to patient. Activities are subject to compliance with all applicable laws, including receipt of all requisite approvals from Health Canada, the Israeli Ministry of Health, and any other applicable regulatory authorities and changing regulatory landscape. ORGANIGRAM MEDCAN 4C LABS AUSTRALIA#26QUARTERLY UPDATES & HIGHLIGHTS Q1 F2024 26#27. A LEADING CANADIAN LP • Organigram achieved the #2 national market share position¹ Held the #1 position in milled flower, the #1 position in concentrates, the #2 position in gummies, and the #3 position in all pre-rolls nationally¹ ⚫ Reintroduced Edison Jolts to market, achieving #2 brand position in capsules and ingestible extracts category in December 20231 ⚫ #1 in LP in Atlantic Canada, #2 in Ontario, and held top 5 market position in rest of Canada¹ 头 THC 1. As of December 31, 2023 - Multiple Sources (Hify re, Weedcrawler, provincial boards, internal modelling). ORGANIGRAM TREMBLAN THE ART BY NEW SHREDY RIP-STRIP HASH 10 STRIPS | 29 | 35% + THC THC SHRED TROPIC THUNDER SHREDENS WILD BERRY BLAZE BAIES SAUVAGES ECLATANTES TROPIC THUNDER ORATED BLEND MELANGE ELECTIONNE THE TH WARNING blueberry blaster monjour BERRY GOOD DAY PETITS FRUITS DU JOUR CRO GUMMES/30 JUUUBES CEO C80/Total CBD Total: 600 mg THC Total THC Total: 1.35mg CD Total per unitipar unik 20mg THC T per unitar unit: <0.05 mg THC can c Dalyar ne bring an ar MISE EN G cannabis com sarti mentale a quidee agent ou agres HOLY MOUNTAIN 27#28QUARTERLY REVENUE REVENUE $ millions ORGANIGRAM $43.9 $38.1 $31.8 $55.2 $65.7 $60.9 1. Q4 F23 represents a 4-month period due to a change in Organigram's year end. Net and gross revenue here have been normalized to reflect a 3-month period. $52.9 $53.6 $48.4 $45.5 $43.3 $39.5 $36.5 $34.5 $32.8 $56.3 Q2 F22 Q3 F22 Q4 F22 Q1 F23 Q2 F23 Q3 F23 Q4 F23¹ Q1 F24 ■Net Revenue ■Gross Revenue 28#29ADJUSTED GROSS MARGIN ADJUSTED GROSS MARGIN¹ $ millions and % of Net Revenue 1. Adjusted gross margin is a non-IFRS financial measure not defined under IFRS and which does not have any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to the cautionary statement at the beginning of this document and the Company's Q1 Fiscal 2024 MD&A for definitions and a reconciliation to IFRS ORGANIGRAM $10.4 $9.3 $8.2 © 26% 24% 23% $13.4 $12.8 30% 34% 2. Q4 F'23 represents a 4-month period due to a change in Organigram's year end. Adjusted gross margin dollars here have been normalized to reflect a 3-month period. $6.1 $5.9 19% 17% $11.2 √31% Q2 F22 Q3 F22 Q4 F22 Q1 F23 Q2 F23 Q3 F23 Q4 F23 F232 Q1 F24#301. ADJUSTED EBITDA ADJUSTED EBITDA¹ $ millions Adjusted EBITDA is a non-IFRS Financial Measure not defined by and does not have any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to the cautionary statement at the beginning of this document and the Conny's Q1 Fiscal 2024 MD&A for definitions and a reconciliation to IFRS. ORGANIGRAM $1.6 $0.6 $5.6 $5.6 $3.2 ill 1. Q4 F2023 represents 4 months due to a change in Organigram's year end. Adjusted EBITDA here has been normalized to reflect a 3- month period. -$2.9 -$1.8 $0.1 Q2 F22 Q3 F22 Q4 F22 Q1 F23 Q2 F23 Q3 F23 Q4 F23² Q1 F24#3101 F2024 STRATEGIC HIGHLIGHTS Completed planting first seed-based production grow room resulting from strategic investment in US-based Phylos • Advanced the second tranche of US$2.75 million to Phylos for a total current investment of US$6.0 million in senior secured convertible loans due to early achievement of THCV concentration and aroma milestones for F1 seeds Completed first craft harvest resulting from the completed expansion of the Company's Lac-Supérieur facility • Product Development Collaboration with BAT moving rapidly toward product commercialization. PK study for nano-emulsion gummy technology complete and the Company is compiling and analyzing results to substantiate product claims regarding onset and half-life • Applied for EU-GMP certification of Moncton facility in November 2023 and awaiting audit • ⚫ Subsequent to Q1 F2024 announced shareholder approval and closing of first $41.5 million tranche of $124.6 million follow-on investment from BAT and creation of the Jupiter investment pool to increase Organigram's international footprint BAT A BETTER TOMORROW PHYLOS 76 BIOSCIENCE GREENTANK ORGANIGRAM#32Q1 F2024 KEY EFFICIENCY HIGHLIGHTS Moncton • • • • . Harvest of 19,860 kg in Q1 F2024 Increasing efficiency through internalizing testing and remediation, as well as increasing automation - $2.1M in savings realized in Q1 F2024 53% increase in flower produced with over 24% THC content Cantos machine pre-roll production run rate improved by 38% CME pre-roll packaging machine improved throughput by 100% SHRED Heavies production rate improved 150% Lac-Supérieur Construction complete with second ultrasonic knife added to meet strong demand for Rip-Strip Hash while lowering labour costs Greenhouse expanded to 2400 kg/year - first harvest completed in December 2023 PDC & Center of Excellence . For ingestible innovations, Organigram has completed pharmacokinetic (PK) studies to substantiate benefits of emulsification technologies and analysis of results is underway EFFICIENCY ORGANIGRAM#33STRONG BALANCE SHEET AND LIQUIDITY 米 THC • On December 31, 2023, the Company had cash of $54.6 million (including restricted cash) In Q1 F2024, Organigram generated $7.7 million in cash flow from operations ⚫ In January 2024, the Company closed the first $41.5 million tranche of $124.6 million follow-on investment from BAT • Negligible debt (less than $0.2 million) ORGANIGRAM TREMBLANT SHREDY RIP-STRIP HASH 10 STRIPS | 29 | 35% + THC blueberry blaster SHREDES WILD BERRY SLAZE NES SAUVAGES ECLATANTES monjour DOPE La conation trigants at prolo HOLY MOUNTAIN SHRED TROPIC THUNDER BERRY GOOD DAY PETITS FRUITS DU JOUR WARNING: Frequent and THC can contribute to m Daily or near-dely use bring on or worsen disorde MISE EN GARDE L cannabis contenant du T santé mentale aud quotidienne augmente l Ou aggraver des troubles#34Q1 FISCAL 2024 KEY FINANCIAL METRICS Gross revenue Excise taxes Net revenue In $ millions unless otherwise indicated ORGANIGRAM Q1'24 Q1'23 % Change 56.3 60.9 (8%) (19.8) (17.6) 13% 36.5 43.3 (16%) Cost of sales 26.9 31.6 (15%) Gross margin before fair value changes to biological assets & inventories sold 9.5 11.7 (19%) Realized fair value on inventories sold and other inventory charges (11.9) (12.5) (5%) Unrealized gain on changes in fair value of biological assets 9.1 24.7 (63%) Gross margin 6.7 23.9 (72%) Adjusted gross margin¹ 11.2 12.8 (13%) Adjusted gross margin %1 31% 30% 1% Selling (including marketing), general & administrative expenses 16.5 15.7 5% Adjusted EBITDA1 0.1 5.6 (98%) Net income (loss) (15.8) 5.3 nm Net cash provided by operating activities 7.7 3.5 122% 1. Adjusted gross margin, adjusted gross margin % and adjusted EBITDA are non-IFRS financial measures not defined by and do not have any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to the cautionary statement at the beginning of this document and the Company's Q1 Fiscal 2024 MD&A for definitions and a reconciliation to IFRS. 34#351. 2. 3. FISCAL 2024 OUTLOOK • • • Expecting solid F24 net revenue - anticipated to be higher than Fiscal23 due to: • . • Strong market share - positioned as the #2 LP1 Continued expansion of product portfolio in multiple segments Focus on expansion in key growth categories of vapes and pre-rolls Greater capacity to meet demand while realizing operational efficiencies Continuation and expansion of international shipments Improvement in both adjusted gross margins2 and adjusted EBITDA³ margins F2024 capex program materially reduced from $29 million in F2023 to a target of $7 million in F2024 * THC CoTotal CBOT SHREDENS WILD BERRY BLAZE BAJES SAUVAGES ECLATANTES 40 FPOUT OF REACH OF SEAPORTS WARNING: Frequent and prolonged use of cannabis containing contribute to mental health problems over time. Daly or soar da The of dependence and my bng on or seren daar to anty and depression MISE EN GARDE La consommation frequente et prolongée soptenant de THC peut entrainer des problemes de santa c auctiderne ou presence suge pubies Ms aty THC EDISON JOLTS HLY MINTED SAPHIRE SCOUT WARNING: Freuent and cannabis an contribute problems near-daly sk of ay laning an s related 12 sian La réquente cannabis Cpeut blèmes FLEUR ARTISANALE LAURENTIAN CRAFT FLOWER SONS au fil de n qast de ne erse augmente sel peal pobles san TREMBLANT As of December, 31 2023 - Multiple Sources (Hify re, Weedcrawler, provincial boards, internal modelling) Adjusted gross margin is a non-IFRS financial measure. See the cautionary statement regarding non-IFRS financial measures. Adjusted EBITDA is a non-IFRS financial measure not defined by and does not have any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. See the cautionary statement regarding non-IFRS financial measures. ORGANIGRAM CANNABIS#36POTENTIAL UPSIDE FOR GROSS MARGINS • Improved economies of scale and efficiencies as cultivation and production volumes continue to increase • • Targeting $10 million in savings in F2024 due to facility enhancements conducted in F2023 Conversion of portion of garden to seed based production by the end of F2024 Increase Lac-Supérieur craft cannabis and hash production – first harvest completed in December 2023 Continued investment in automation which will drive cost efficiencies and reduce dependence on manual labour Improved Brand, Product and Provincial Mix • • • • Revitalization of Trailblazer brand targeting the mainstream consumer Renewed efforts behind Laurentian brand targeting the consumer Increasing vape penetration by leveraging new Greentank technology Increasing distribution and retail offtake in Western provinces ORGANIGRAM THC THC EDISON CANNABIS co MAC-1 BIG BAG O BUDS Frequent and prolonged use of cannabis containing bute to mental health problems over time. Daly or incremes the risk of depend 413ed to anxiety and dep Tara: La consommation ronjour BERRY GOOD DAY PETITS FRUITS DU JOUR 203UWES 30JJ.BES CBD HCTotal THC Total: 0 mg unibpar unité: 20 mg unit par unité: 0mg WARNING: Frecuentardok THC can contribute to mental Daily or near-dely use it aring or crcrsends MISE EN GARDE : Latscra cannabis comlerant du T-C santé mentale au il du larg quctidienne augmenee is t ou accraver co#37APPENDIX 41#38MARCH 2021 BAT TRANSACTION SUMMARY Investment Subsidiary of BAT subscribed for 58.3M common shares of Organigram, which represented a 19.9% equity interest in March 20211 on a post-transaction basis • Total proceeds to Organigram in March 2021 of ~C$221 million (the "Investment Proceeds") The price per share in March 2021 was based on a five-day volume weighted average price on the TSX ended March 9, 2021 Product Development Collaboration ("PDC") Governance and Deal Protections In March 2022 received $6.3M investment from BAT through the exercise of certain top-up rights pursuant to an Investor Rights Agreement, bringing BAT's equity ownership to 19.4% ~$30M of Investment Proceeds reserved to satisfy certain of Organigram's obligations under the PDC agreement, including Organigram's portion of its funding obligations under a mutually agreed budget for the Center of Excellence Remaining net Investment Proceeds may be used by Organigram for general corporate purposes, subject to certain proceed restrictions Costs relating to the Center of Excellence will be funded equally by OGI and BAT Organigram and BAT to focus on development of cannabis vapour products, cannabis oral products and any other products, IP and technologies mutually agreed upon Both Organigram and BAT to have access to certain of each other's intellectual property ("IP") and, subject to certain limitations, have the right to independently globally commercialize the products, technologies and IP Board Representation: • • BAT entitled to appoint (i) 20% of the Board of Directors of Organigram (the "Board") for so long as BAT holds at least 15% of the issued and outstanding common shares of Organigram from time to time and (ii) 10% of the Board so long as BAT holds at least 10% of the issued and outstanding common shares of Organigram from time to time BAT nominees, Mr. Simon Ashton was added to the Board in February 2022 and Ms. Ferland was added to the Board in March 2023 but subsequently resigned in September 2023 Investor Rights • 1. Calculated on a non-diluted basis. ORGANIGRAM BAT has a right to participate in equity issuances to maintain its percentage shareholding, subject to customary exceptions, and periodic top-up rights to permit maintenance of its percentage ownership following exempt issuances BAT has customary pro rata piggy-back registration rights, and is subject to certain share transfer restrictions 42#39NOVEMBER 2023 BAT TRANSACTION SUMMARY Investment Subject to requisite Organigram shareholder approval, regulatory approvals and other conditions, subsidiary of BAT to subscribe for, in aggregate, ~38.7 million shares of Organigram, over three tranches, at C$3.2203/share. Total gross proceeds to Organigram of C$124.6 million Subsidiary of BAT, subject to Organigram shareholder approval, regulatory approvals and other conditions, will subscribe for: Tranche 1 12.9 million shares on or around January 16, 2024, for C$41.5 million Tranche 2 -12.9 million shares on or around August 30, 2024, for C$41.5 million Tranche 3-12.9 million shares on or around February 28,2025, for C$41.5 million Capital Allocation and "Jupiter" Investment Pool Organigram to create a Strategic Investment Pool named Jupiter ("Jupiter"), to be funded with C$83.1 million over the course of the three tranches of the investment Remaining net Investment Proceeds of C$41.5 million may be used by Organigram for general corporate purposes Jupiter will target investments in emerging cannabis opportunities that enable Organigram to apply industry-leading capabilities to new markets, thus expanding its global footprint Jupiter to be set-up and managed by an internal team at Organigram Governance and Deal Protections ORGANIGRAM Board Representation: Under the Amended and Restated IRA, BAT would be eligible to appoint up to 30% of the Board. Investor Rights: BAT has a right to participate in equity issuances to maintain its percentage shareholding, subject to customary exceptions, and periodic top-up rights to permit maintenance of its percentage ownership following exempt issuances. BAT has customary pro rata piggy-back registration rights and is subject to certain share transfer restrictions. BAT has certain minority protections, including approval rights over certain fundamental transactions. 43#40SHRED An uplifting & vibrant value brand focused on convenience. ORGANIGRAM Tropic Thunder 7g pre-milled Wild Berry Blaze SHRED'ems Gnarberry 1g 510 vape SHRED XRip Strips SHREDEMS WILD BERRY BLAZE 10mg THC 40mg CBD PER PACK 4 HYBRID GUMMIES SHREDY NEW SHREDY RIP-STRIP HASH 35%+ SANEDX REP-STRIP HASH THC SHREDY RIP STRIP HASH topic thunder 2g 10 HASH STRIPS STRIP IT GO! BOW JUST ŔŔRRIP IT! RIP IT Terp-infused Hash for Weed Fans SHRED TROPIC THUNDER 44#41HOLY MOUNTAIN An imaginative brand with iconic strains and stellar extracts. HOLY MOUNTAIN MAC-1 HOLY MOUNTAIN PRESSED HASH 28 HOLY MOUNTAIN R*NTZ ORGANIGRAM Holy Mountain Mac-1 3.5 g, R*ntz 3.5g, Pressed Hash 45 45#42BIG BAG O' BUDS Delivering high-quality ounces in a variety of strains. BIG BAG O' BUDS I.C.C. (Ice Cream Cake) 1 Oz./28g BIG BAG O' BUDS Ultra Sour 1 Oz./28g BIG BAG O' BUDS Pink Cookies 1 Oz./28g ORGANIGRAM Pink Cookies I.C.C. Ultra Sour 46#43monjour 20mg VEGAN CBD GUMMIES CBD and minor cannabinoid gummies, designed for a personal wellness ritual. monjour BERRY GOOD DAY 30 GUMMES Monjour Berry Good Day Monjour Orchard Medley ORGANIGRAM Σ 30mg CBD GUMMIES monjour bare ORCHARD MEDLEY 30 CUMMI ΟΣ JOW АЗПОЗИ С 47#44EDISON CANNABIS CO Apremium brand focused on flower & innovation. ORGANIGRAM Limelight 3.5g dried flower Edison JOLTS - Electric Lemon Cherry Limelight Bubble Hash Joints LIMELIGHT EDISON JOLTS ELECTRIC LEMON SATIVA LOZENGES EDISON CANNABIS CO 00 100 MG THC PER BAG 10 LOZENGES 10 MS THE THC% 22-28 JOO EDISON CANNABIS CO CHERRY LIMELIGHT BUBBLE HASH JOINTS THC% 25-30 3X0.50 48#45A TREMBLANT THE ART OF HASH L'ART DU HASCHISH Premium hash, inspired by the timeless tradition of hashish. Tremblant 2g Hash ORGANIGRAM * THC A TREMBLANT THE ART OF HASH L'ART DU HASCHISH WARNING: Frequent and prolonged use of cannabis containing THC can contribute to mental health problems over time. Daily area-daly use increases the tsk of dependence and may bring on or wor disordered to anety and depression MSE EN GARDE: La consommation frequente et prolongée de cannabis contenant do THC peut entrainer des problemes de sante mentale au 1 du temps. Luthuton quotdenne ou presque quotidienne augmente le sque de dipendance et peut entrainer ou aggraver des troubles és a Tardà premion LOREM IPSUM LOREM IPSUM Deserunt molit Duis aute irure dolor |7g Excepteur sint occaecat cupidatat 17g 49 49#46FLEUR ARTISANALE LAURENTIAN CRAFT FLOWER Craft cannabis featuring rare cultivars grown with utmost attention and care. SAPHIRE SCOUT FLEUR ARTISANALE LAURENTIAN CRAFT FLOWER SAISONS Laurentian Saisons 2002 CAVEL EPOMER 3.5 g ORGANIGRAM 50#47Q1 FISCAL 2024 SELECT BALANCE SHEET METRICS In $000s unless otherwise indicated ORGANIGRAM SELECT BALANCE SHEET METRICS Cash & short-term investments (excluding restricted cash) Biological assets & inventories Other current assets Accounts payable & accrued liabilities Current portion of long-term debt Working capital Property, plant & equipment Long-term debt Total assets December 31, 2023 September 30, 2023 % Change 41,815 33,864 23% 81,234 80,953 0% 37,240 41,159 (10%) 35,603 20,007 78% 71 76 (7%) 122,823 133,545 (8%) 98,179 99,046 (1%) 65 79 (18%) 299,014 298,455 0% Total liabilities 41,189 26,832 54% Shareholders' equity 257,825 271,623 (5%) 51#48Q1 FISCAL 2024 CAPITAL STRUCTURE Dec 31, 2023 in $000s Current and long-term debt Shareholders' equity Total debt and shareholders' equity in 000s Outstanding common shares Options Warrants Top-up rights Restricted share units Performance share units Total fully-diluted shares ORGANIGRAM Sept 30, 2023 136 155 257,825 271,623 257,961 271,778 81,162 81,162 2,788 2,830 4,236 1,745 2,035 3,076 881 1,172 261 89,942 91,405 52#49ORGANIGRAM A CANADIAN CANNABIS LEADER NASDAQ (OGI) TSX (OGI)