ORGANIGRAM Corporate Presentation

. Q1 Fiscal 2020 Highlights As guided by management, improved key metrics from Q4 2019: ✓ Net revenue grew to $25.2M ✓ Gross margin (before FV changes to bio assets and inventories sold) increased to 37% Cash and "all-in" cost of cultivation declined to $0.61 and $0.87 per gram¹ of dried flower harvested ✓ SG&A as a % of net revenue declined to 37% • Returned to positive adjusted EBITDA -generated $4.9M¹ or 19% of net revenue . . As planned, shipped first of Rec 2.0 products, Trailblazer Torch vape cartridges in December 2019 ⚫ Further improved financial flexibility with at-the-market program (ATM program) established in Dec. 2019 ✓ Cash and short term investments of $34.1M at quarter-end Raised $22.9M in gross proceeds under ATM program after Q1 2020 & $32.1M in current remaining capacity ✓ $$30M in current available capacity on term loan up to $25M revolver available to be drawn against receivables² ✓ Option to increase credit facility from $140M to $175M³ Adjusted EBITDA and cost of cultivation are non-IFRS measures - see Company's Q1 2020 MD&A for definition and a reconciliation to IFRS To be drawn against specified receivables 1 5 2 3 Subject to agreement from lenders and certain legal and business conditions ORGANIGRAM

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