Clever Leaves IPO Presentation

2023 Third Quarter Financial Summary¹ In Q3'23, we drove a more efficient operational infrastructure through our on-going cost optimization efforts, backed by continued commercial momentum in our international cannabinoid target markets. Net Revenues Gross Profit (GAAP) Segment Rev. (Cann/Non-Cann) Q3'23 $1.4mm / $2.4mm Q3'22 $0.6mm / $2.3mm Q3'23 Q3'22 Adj. EBITDA (Non-GAAP) Q3'23 $(2.6)mm Q3'22 $(3.7)mm (1) WN $3.8mm $2.9mm Q3'23 Q3'22 Q3'23 Q3'22² Total Revenue grew 33% y-o-y Revenue Per Gram $0.30 $1.08 Cannabinoid Revenue grew 135% y-o-y $1.9mm $1.3mm Non-Cannabinoid Revenue grew 6% y-o-y Key Points Q3'23 Q3'22 Cost Per Gram $0.75 $0.52 OpEx decreased 20% y-o-y³ CLEVER LEAVES Adj. EBITDA improved y-o-y to $(2.6)mm Cash Balance at October 31, 2023 was $6.2mm, not including the additional $1.9mm in proceeds from the Nov. sale of remaining Cansativa stake Year-over-year comparisons reflect the presentation of the Company's Portugal operations as a discontinued operations, in accordance with Accounting Standards Codification (ASC) 205, Presentation of Financial Statements. For additional detail, please refer to the Company's Form 10-Q for the fiscal period ended September 30, 2023. Prior period numbers are re-stated to exclude discontinued operations to make it comparative with current period numbers. Year-over-year comparison excludes the impact of the $19mm goodwill impairment charge related to the Company's Colombian cannabis licenses in Q3'22. 12

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