Investor Presentaiton

NOVA CANNABIS INC. Disclaimers This presentation, and any supplements and amendments to this presentation, has been prepared by Nova Cannabis Inc. ("Nova" or the "Company"). When used herein, references to "Nova", "we", "our" or the "Company" refer to Nova Cannabis Inc. and each of our subsidiaries as the context requires. No securities commissioner or similar regulatory authority in Canada has reviewed or in any way passed upon this presentation or the merits of the securities described herein and any representation to the contrary is an offence. The information contained in this presentation is subject to change without notice and is based on publicly available information, internally developed data and other sources. Where any opinion or belief is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion or belief only. No representations or warranties are being made as to the origin, validity, accuracy, completeness, currency or reliability of the information contained in this presentation. Nova expressly disclaims and excludes all liability (to the maximum extent permitted by law), for losses, claims, damages, demands, costs and expenses of any nature arising in any way out of or in connection with the information in this presentation, its accuracy, completeness or by reason of reliance by any person on any of it. This presentation contains references to certain market, industry and peer group data which is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although Nova believes these sources to be generally reliable, such information is 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 inherent limitations and uncertainties. Nova has not independently verified any of the data from third party sources referred to in this presentation and accordingly, the accuracy and completeness of such data is not guaranteed. This presentation does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities of the Company in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities of the Company described herein have not been and will not be registered under the United States federal or state securities laws and may not be offered or sold in the United States, or to, or for the account or benefit of, "U.S. Persons" as such term is defined in Regulation S under the United States Securities Act of 1933, as amended, unless an exemption from registration is available. This presentation should not be construed as legal, financial or tax advice to any individual, as each individual's circumstances are different. Investors should consult with their own professional advisors regarding their particular circumstances. Forward Looking Statements Advisory This presentation contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") that represent the expectations of management of Nova as of the date hereof, and are subject to change after such date. More particularly, this presentation contains forward-looking statements concerning: the number, type, and location of retail cannabis stores to be constructed and acquired by Nova; the timing of the expected "Value Buds" banner roll out in Ontario and Alberta; Nova's market disruption and market share capture strategy; gross margins (GM%) for the "Nova" and "Value Buds" banners; anticipated or forecasted annualized sales, EBITDA, EBITDA margins, gross margins, and future increases of margins; future stabilization of the retail cannabis markets; enterprise value (EV) and EV multiples; Nova's ability to obtain retail cannabis licenses from governmental authorities; the continued ability of Nova's competitors to remain profitable and/or to operate for an extended period of time; the timing of consolidation in the retail cannabis industry; Nova's bargaining power to obtain competitive pricing for the products it sells; the line of credit and lease guarantees to be provided to Nova by Alcanna; the management services to be provided by Alcanna to Nova and the rates it will charge for those services; combined wholesale and retail margins; Nova's acquisition strategy and its ability to make acquisitions in the future; creation of a private label wholesale program; and the treatment under governmental regulatory regimes. In addition, the use of any of the words "guidance", "initial, "scheduled", "can", "will", "prior to", "estimate", "anticipate", "believe", "expect", "foresee", "forecast", "anticipate", "intend", "estimate", "goal", "plan", "contemplate", "pursue", "continue", "aim", "target", "must", "commit", "propose", "predict", "project", "will", "may", "might", "future", "should", "could", "would" and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained in this presentation are based on certain key expectations and assumptions including, but not limited to, expectations and assumptions concerning the retail cannabis strategy of Nova, including: the "Value Buds" banner roll out and conversion costs; the relevant successes and transferability of Alcanna's three-month beta testing of such value retail stores; the size of the cannabis retail market and estimated portion currently unserved; migration of customers from the illicit market to legal market; the ability of Nova to replicate Alcanna's successful transition to a discount liquor retail model; the cost and development of a private label wholesale retail program; costs and timelines of building new retail locations and the number, timeliness of and potential for increased cannabis license roll- out in Ontario; the number, type and geographic locations of new retail stores to be created; new potential target consumers and customer segments; Nova's ability to influence customer purchase decisions; Nova's size, sales volume and financial stability; potential management costs of a low-cost retailer; cost structure of competitors; availability of capital and strength of the Nova balance sheet; potential for rapid organic and inorganic growth; current legislation; receipt of required regulatory and/or licensing approvals; the growth and acquisition strategy of Nova; general economic conditions; financial strength of competitors; gross margin of Nova; lease guarantees to be provided to Nova by Alcanna; strength of Alcanna's relationships with landlords; the ability to capture expected market share; margin expansion; and other assumptions identified herein. Although Nova believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because there is no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the cannabis industry in general and changes in legislation affecting the cannabis industry. To the extent any guidance or forward looking statements herein constitute a financial outlook or future oriented financial information ("FOFI"), they are made as of the date hereof and included herein to provide prospective investors with an understanding of the plans and assumptions for budgeting purposes and prospective investors are cautioned that the information may not be appropriate for other purposes. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable by management at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on any FOFI. Nova's actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits Nova will derive therefrom. Nova disclaims any intention or obligation to update or revise any FOFI, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this presentation are made as of the date hereof and Nova does not undertake any obligation to update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The information contained in this presentation does not purport to be all inclusive or to contain all information that prospective investors may require. Prospective investors are encouraged to conduct their own analysis and reviews of Nova, Nova's assets, Nova's management and the other information contained in this presentation. Information in relation to the previous experience of Nova's management is not indicative of the future performance of Nova. Without limitation, prospective investors should consider the advice of their financial, legal, accounting, tax and other advisors and such other factors they consider in investigating and analyzing Nova, Nova's assets and Nova's management. Basis of Presentation All financial figures and information have been prepared and presented in Canadian dollars (which includes references to "dollars" and "$") and in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board. 2