ORGANIGRAM Corporate Presentation

Q1 Fiscal 2020 Financial Results NET REVENUE Q1 2020 net revenue almost doubled from Q1 2019 as Q1 2020 included a full quarter of adult-use rec sales (legalized in October 2018) GROSS MARGIN before FV CHANGES to BIO ASSETS & INVENTORIES SOLD Lower Q1 2020 gross margin % vs Q1 2019 largely due to higher cost of sales from increased staffing for more cultivation/post-harvest capacity without the benefit of full economies of scale (as consumer demand impacted by inadequate retail store network in Canada) POSITIVE ADJUSTED EBITDA¹ Q1 2020 positive adjusted EBITDA margin¹ of 19% as a percentage of net revenue Q1 2020 SG&A² at 37% of net revenue, similar to Q1 2019, with higher net revenue and continued focus on prudent spending and cost control NET INCOME (LOSS)³ Q1 2020 net loss of $0.9 million or $(0.006) per share on a diluted basis compared to Q1 2019 net income of $29.5 million or $0.195 per share largely due to non-cash fair value changes to biological assets and inventories sold ($M) 25.2 12.4 Q1 2019 Q1 2020 ($M and %) 71% 37% ($M) 8.8 9.3 Q1 2019 Q1 2020 ($M) 6.8 29.5 4.9 (0.9) Q1 2019 Q1 2020 Q1 2019 Q1 2020 1 Adjusted EBITDA is a non-IFRS measures with no standardized meaning under IFRS. See.the Company's Q1 2020 MD&A for definitions and a reconciliation to IFRS. 6 2 Sales & Marketing and General & Administrative excluding share-based compensation 3 Net income (loss) from continuing operations ORGANIGRAM

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