Corporate Presentation

Q4 2018 Financial Summary Revenue (¹) Gross Profit Gross Margin % Net loss Q4 2018 $'000s 10,198 3,967 39% (3,542) (3,366) Q4 2017 $'000s 2,129 (742) (695) (695) 2018 $'000s 10,198 3,967 39% (8,466) Operating loss - as reported Adjusted EBITDA (²) Adjusted EBITDA(²) margin % 21% (1) Revenue of $10.2 million, commencing November 9 after receipt of sales licence from Health Canada (2) Adjusted EBITDA includes $0.74M Share-based compensation, $4.23M Transaction fee and $0.53M Depreciation (8,052) (875) (9%) 2017 $'000s (995) (948) (948) Adjusted EBITDA is not a recognized performance measure under IFRS, does not have a standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is included as a supplemental disclosure because Management believes that such measurement provides a better assessment of the MediPharm Labs' operations on a continuing basis by eliminating certain non-cash charges and charges or gains that are nonrecurring. Adjusted EBITDA is defined as net loss excluding interest, taxes, depreciation and amortization, and share-based compensation and listing expense. Adjusted EBITDA has limitations as an analytical tool as it does not include depreciation and amortization expense, interest income and expense, taxes, share-based compensation and transaction fees. Because of these limitations, Adjusted EBITDA should not be considered as the sole measure of the MediPharm Labs' performance and should not be considered in isolation from, or as a substitute for, analysis of the MediPharm Labs' results as reported under IFRS. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is operating income (loss). A reconciliation of the Company's operating loss to Adjusted EBITDA and further information is available under "Reconciliation of non-IFRS measures" in the MediPharm Labs' Management's Discussion and Analysis for the year ended December 31, 2018 for additional information. MediPharm Labs | 6

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