Clever Leaves SPAC Presentation Deck

Poised for Further International Expansion ● ● . Portugal Subject to full licensing, Clever Leaves plans to commence low-cost cultivation operations in Portugal, providing an important foothold into Europe Access to flower sales, downstream expansion and product and branding opportunities Favorable regulatory framework and cannabis laws Excellent Southern European climate for cultivation purposes Relatively low cost operations compared to EU peers Access to high quality facilities and talent Pre-license inspection letter received Nov. 2019 First test harvest now completed; full licensing anticipated in 2H 2020 Cultivation Acquired 85 ha property with 100,000 sq. ft. of existing greenhouse south of Lisbon Envisage 10-30 ha of greenhouse and 100 ha of outdoor facilities European Regulatory European-based regulatory expertise with expected certifications to create significant advantages overcoming various regulatory hurdles (1) Source: MJBiz Daily "Insurance-covered cannabis... 123 million euros" published on 03/27/20 Germany Strategic investments in a complex cannabis industry securing access to a large and valuable customer base ● ● ● ● ● ● Largest economy and medical cannabis geography in Europe, with 2019 insurance reimbursements growing nearly 70% over 2018 levels (¹) Clever Leaves' pharmaceutical division centralizing knowledge and interaction with pharma stakeholders in the EU Influential investor in Cansativa, one of the largest German medical cannabis importers and distributors today, with additional licensing in process under IQANNA (100% owned) for additional paths for importation or commercial partnerships Favorable public insurance coverage for medical cannabis CLEVER LEAVES Strategically positioned to use Germany as a platform to expand into the European cannabis industry Favorable importation margins Distribution Asset #1 cansativaⓇ Distribution Asset #2 IQANNA 11

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