Unlocking Near-Term Value & Optimising Assets for Growth

MMJ PhytoTech Limited (ASX. MMJ)

Developing a World-Class Pure Play Cannabis Company
October 2016 Investor Presentation

© 2016 MMJ PhytoTech Limited | ASX: MMJ | www.mmjphytotech.com.au October 2016

Disclaimer

ALL CURRENCY AMOUNTS ARE IN CAD UNLESS STATED OTHERWISE.

DISCLAIMER
This presentation has been prepared by PhytoTech Medical Limited (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the
Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters.
No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions
or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or
projections set out in this presentation.
This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial
position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so).
Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to
the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding
provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent
permitted by law, expressly disclaimed and excluded.
Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the
Company.

FUTURE MATTERS
This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company.
Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and
unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by
the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved.
Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on
these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

US DISCLOSURE
This document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the
US Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be
offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.

2
Executive Summary

 MMJ PhytoTech (‘MMJ’ or the ‘Company’) to list Canadian subsidiary United Greeneries (‘UG’) together with Swiss subsidiary Satipharm ('SAT')
on the TSX Venture Exchange (‘TSX-V’) (the “Transaction”).

 The new TSX-V listed entity (‘TSR’) is expected to unlock significant value by providing MMJ shareholders strategic exposure to the rapidly
growing Canadian cannabis markets and robust demand for cannabis-focused equities.

 Transaction to be completed via $40M Reverse Takeover (‘RTO’) of TSX-V listed Top Strike Resources (TSX-V:TSR) (‘TSR’):

• MMJ to vend UG and SAT into TSR in exchange for $37.5M in TSR equity and $2.5M cash ($40M total consideration).
• TSR to undertake concurrent equity financing of at least $15M ($2.5M of which will be paid to MMJ as partial consideration).
• TSR to undergo 6:1 share consolidation and rebranding forming yet-to-be named Can HoldCo.
Value-Driven
Corporate  Post Transaction, MMJ will have significant ownership in two well-financed, growth-oriented, streamlined cannabis-focused companies:

Restructuring • ~69% of TSR: TSX-V listed cannabis and cannabis-based products company focused on supplying Canadian and international medical and
recreational cannabis markets through two distinct operating brands:
− United Greeneries: Canadian Licensed Producer with focus on large scale horticultural operations for the upcoming Canadian
recreational cannabis market.
− Satipharm: International medical cannabis brand with focus on oral delivery technologies for strategic entry in emerging medical
cannabis markets and the existing medical cannabis market in Canada.
• 100% of Phytotech Therapeutics (‘PTL’): private Israeli pure play biopharmaceutical company focused on developing and
commercialising cannabis-based therapeutics by leveraging unique medical cannabis supply chain secured by strategic long-term
arrangements between UG, SAT and PTL.

3
 Executive Summary

 Transaction will streamline and narrow strategic focus of MMJ’s businesses potentially unlocking significant shareholder value and optimizing the
Company’s assets for growth.
 TSR will be well positioned to supply evolving recreational and medical cannabis markets in Canada and internationally
 TSX-V listing of TSR expected to mitigate MMJ’s prolonged trading valuation discount by providing direct access to robust Canadian capital
markets:
− 9 publicly traded Canadian peers(1) (‘Peers’) for direct market comparison
Key Value Drivers − Enhanced liquidity and availability of capital
− Equity research coverage from several independent brokerages / investment banks
− Strong and growing institutional participation (Canadian and international)
− TSR expected to trade in-line or at a premium to Peers given unique platform and growth profile

100% ~69%
(ASX:MMJ, $2.5M+ Cash)
TSR
(TSX-V, $12.5M Cash)
THERAPEUTICS Holding company supplying cannabis markets
Post-Transaction through two distinct operating brands:
Israeli Biopharmaceutical pure play
Schematic
Focused on commercialising cannabis
plant-based Rx drugs
Supply chain secured by strategic LT Canadian ACMPR(2) LP Canadian and Int’l medical markets
arrangements with TSR Focused on large scale cultivation for Focused on exclusive oral delivery tech
Canadian recreational market

(1) Includes Aphria, Aurora Cannabis, Canopy Growth, Emerald Health Therapeutics, Mettrum, Organigram , PharmaCan Capital, Supreme Pharmaceuticals and THC Biomed Intl
(2) Access to Cannabis for Medical Purposes Regulations formerly known as Marihuana for Medical Purposes Regulations (‘MMPR’) 4
Transaction Overview

Reverse Take Over Transaction Schematic Pro Forma Ownership of Post Merger TSR

Top Strike
New 4%
Shares Post-Cons % (C$M) Investors
27%
$40M
Top Strike 16.4 2.7 4% --
(300MM Shares
$2.5M Cash) MMJ 300.0 50.0 69% ($2.5)
$15M Cash
MMJ
New Investors 120.0 20.0 27% $15.0
69%
Top Strike (TSXV) New Total 436.4 72.7 100% $12.5
16.4m Shares Investors

6:1 Share 120M Shares

Consolidation @ $0.125

TSX-V Listed
TSR 72.7M S/O $12.5M Cash

 TSR will acquire UG and SAT from MMJ for total consideration of $40M | $2.5M Cash + $37.5M in TSR Equity (300M TSR Shares @ $0.125/share)
 Concurrent to RTO, TSR will complete an equity deal of a minimum of $15M | Deal to be completed at minimum price of $0.125/share

 TSR to complete 6:1 share consolidation and rebranding forming yet-to-be-named Can HoldCo

 Current MMJ management to be responsible for operations of TSX-V company

5
Concurrent Equity Financing

Concurrent $15M Equity Financing Indicative Use of Proceeds ($M)

TSR
MMJ Cash Consideration $2,500,000

Duncan Phase I Expansion 8,000,000

$15 Million Equity Financing

Ramp-up & Marketing 2,000,000

Offering: 120,000,000 common shares
General, WC & Other 1,500,000
Offer Price: Minimum of $0.125/share

Size of Offering: Minimum of $15,000,000

Tx Fees & Expenses 1,000,000

Commission: 6% cash commission Total Use of Proceeds $15,000,000

[Duncan Expansion will Commence Shortly after Deal Closes]

6
Canadian Medical Marijuana Sector

 There are 28 enterprises, aka ‘licensed producers’ (‘LPs’), operating under the Access to Cannabis for Medical Purposes Regulations (‘ACMPR’) 1,
of which 10 are publicly listed
−Medical LPs represent the best way to play the Canadian marijuana space because commercial scale, regulated production will be needed for the
industry to grow to the point where both medical and recreational markets coexist and flourish
 Health Canada’s (‘HC’) original estimates for the medical marijuana sector in Canada projected growth from 40,000 patients in 2014 to 450,000
patients by 2024 with $1.3 billion in annual sales

 Actual participation in the ACMPR is outpacing HC’s estimates and many industry observers / participants have adjusted 2024 projections to ~$3.0
billion in annual sales
−Does not take into account the potential size of the recreational market, which has a conservative estimated value of ~$5.0 billion in annual sales
by 2024
 The biggest driver for stock price returns currently is the expected legalization legislation to take place under the Liberals ’ government
−Canadian government launched a Task Force on June 30, 2016 that will inform the creation of a new marijuana legalization and regulation
system
−The Task Force is currently consulting with provincial and municipal governments, key experts in relevant feeds, as well as taking public
feedback, and is expected to report back with an update in November 2016
−Legislation is then expected to be tabled by Spring 2017 with a potential start to recreational sales occurring in the first half of 2018

(1) Formerly the Marihuana for Medical Purposes Regulations (MMPR)

7
Post Transaction - Dual Strategy Cannabis Company

MMJ shareholders will have significant exposure to the two of the largest commercial
opportunities in the global cannabis sector

Cannabis Cultivation & Recreational Branding Cannabis Based Health Products (Medical Cannabis)

Horticultural Recreational Satipharm is specialised in development and manufacturing of

United Greeneries is a Canadian Licensed Producer and will

be the group's horticultural arm and recreational brand. + cannabis based health products and will be the groups medical
and health brand.
• Targeting increased revenues by boosting the sales of its
flagship Gelpell ® Microgel Capsules in Canada and
• ACMPR (MMPR) LP Duncan Facility throughout regulated markets globally
• Immediate ~10,000 kg/year greenhouse expansion • North American Rights to Gelpell ®
• Late-stage applicant Lucky Lake Facility • Gelpell Phase 1, global exclusive rights (ex N.A.) on
• Capacity growth to 11,000kg in 12 Months cannabis applications
• Incremental modular Expansion up to 26,000kg • Medical Cannabis Portfolio Pipeline

Post Merger TSR1

Notes: (1) Post Merger TSR will undergo a significant transformation. The new identity has to reflect both new vision and values of the company while simultaneously support building a strong brand awareness and
becoming iconic and recognizable in the industry. Post Merger TSR Brand to be announced soon. 8
 Cannabis Cultivation Brand – United Greeneries

 UG owns and operates two growing facilities in Canada - the Duncan Facility and the Lucky Lake
Facility.
 On 30 June 2016, Health Canada (“HC”) officially approved UG as an authorised Licensed Producer
(“LP”) at the Company’s flagship Duncan Facility.
 The Duncan Facility is a state of the art Medical Cannabis operation with circa 10,000ft² of
cultivation area.
 UG recently entered into an option agreement to lease a 13+ acre land package located directly
adjacent to the existing Duncan Facility. This land package could support an expansion of up to 10
acres of greenhouse production space with the potential to yield an additional 25,000 kg/year of
cannabis.
 Increased production will enable UG to penetrate soon to be legalized Canadian recreational market
while also servicing the existing legal medical market - forecast annual sales of combined markets
expected to reach ~$8 to $9 billion per/year by 2024 (1).
 Lucky Lake Facility is a 62,000 ft2 modern, concrete agricultural facility sitting on over 18 acres of
land which is 100% owned by UG. ACMPR licensing is currently at the security clearance stage.

Post merger TSR to become a large-scale cannabis producer targeting supply to rapidly expanding Canadian medical
and recreational markets
Notes (1) Market estimates based on equity research and internal MMJ estimates.
9
United Greeneries – World Class Duncan Facility

Figure 1: Duncan’s State of the art cultivation area. Figure 2: Duncan Facility automated fertilizer system.

Low-cost, highly scalable production capacity targeting approx. 26,000 kg/year cannabis

10
United Greeneries – World Class Duncan Facility

Location: Duncan, BC – Vancouver Island 16,000 ft2 production facility and full quality control laboratory in Duncan, BC:

9,600 ft2 cultivation area

Ownership: LT Lease to MMJ (7+ Years)
1,000 ft2 clean area
Size: 16,000 ft2 Level 8 security vault

Capacity: 1,000 kg/year Will house extraction machinery

Fully automated watering system

3 bays staggered, 1 strain, from seed, each bay
Grow Plan:
has second level propagation room

MMPR Status: MMPR Production License

11
United Greeneries – Lucky Lake Facility

62,000 ft2 modern agricultural facility owned by MMJ

Location: Lucky Lake SK
40,000 ft2 cultivation space across four interior bays
Ownership: 100% Owned by MMJ Will utilize proprietary vertical cultivation system
Ample power and water and is situated adjacent to a CN rail line
Size: 62,000 ft on 18-acre Site
2
Building specs at or near MMPR requirements
18-acre site provides MMJ with scalability
Capacity: 12,000 kg/year

MMPR Status: Security Clearance Stage

12
 United Greeneries – Still an Early Entrant

 By 2024 the combined medical and recreational cannabis market in Canada is expected to reach $8-$9Bn (1) in annual sales
Medical Growth Outpacing HC Estimates (Clients ‘000s) Medical & Recreational Sales to Reach $8-9Bn by 2024 ($Bn)
800 752
Actuals ('000s Clients) $10.0 $9.0
Medical Sales ($Bn)
Equity Research / MMJ Estimate ('000s Clients) $8.0
600 $7.5 Recreational Sales ($Bn) $6.8
HC Estimate ('000s Clients)
450
2024E High Case ($Bn) $5.0
400 Current Est. Clients Exceeds $5.0
HC Estimates $3.7
$2.4
200 83 $2.5 $1.6
$0.8
$0.04 $0.1 $0.2 $0.4
-- $0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Current Capacity a Fraction of Expected 2024 Demand (M Kgs) (2) UG’s Expansion Plans are a Drop in the Bucket (Kg) (3)
1.25 1.14 30,000 26,000
Total Cannabis Demand (M Kgs) UG Indicative Phase II Expansion (Kg)
0.97
1.00 Current Total Licensed & Unlicensed Built Capacity (M Kgs)
UG Indicative Phase I Expansion (Kg)
MMJ Phase II Capacity (M Kgs) 0.71 20,000
0.75 UG Indicative Current Capacity (Kg) 15,000
0.52
11,000
0.50 0.34 10,000
0.21
0.25 0.10 10,000 10,000
0.02 0.05 1,000
-- -- 1,000 1,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 YE 2017 YE 2018

The Canadian Cannabis Market is Set for Unprecedented Growth

Source: Equity research, Health Canada and MMJ estimates. (1) Market estimates based on equity research and internal MMJ estimates. (2) Expected total cannabis demand based on following $/g retail price assumptions: 2016E, 2017E:$8.00/g; 2018E, 2019E: $7.50/g; 2020E+ $7.00/g (2)
UG is currently licensed to produce a limited quantity until grant of distribution license. UG expects that the Duncan facility will be licensed to produce ~1,000kg/year. Expansion plans are indicative and for illustrative purposes only.
13
United Greeneries – Duncan Expansion Plan

 United Greeneries optioned a significant package of land directly adjacent to the Duncan facility “Expansion Land”
 The entire plot of land is ~40 acres and MMJ initially optioned 13 acres with the ability to increase acreage if required
 The Expansion Land is of particular interest because it previously housed a large-scale commercial greenhouse operation that feed into a cold
storage building which is now the Duncan Facility
 Currently the land is virtually deserted but the dimensions and gradients are perfectly suited to resurrect a modern commercial greenhouse
operation
 From the onset, UG designed and retrofitted the Duncan facility with expansion in mind – UG invested more upfront on high-cost, high-
compliance items such as vault storage and processing capacity which now can handle multiples of the facilities current production capacity
 The Duncan Expansion plan involves fast-track, lower-cost modular builds of greenhouse facilities that will supplement Duncan’s existing
production capacity
 Given the premediated streamlined fashion of the current layout, Duncan will rapidly rollout greenhouse expansion targeting a total of 26,000
kg/year within a few years
 This ability to expand is unique – especially when considering expected build time and the chance for significant cost savings on high-
compliance items

The Duncan Facility has the potential to produce 26,000 kg/year + and dramatically lower COOGS using planned
state of the art greenhouse facilitate modular rollout
14
United Greeneries – Duncan Expansion Plan

Satellite Shot of Duncan and Expansion Lands GIS Output of Duncan and Expansion Lands

Graphics
Phase 3/ Ariel photos Phase 2
3 Phase Expansion

Phase I

Current Duncan Facility Indicative Modular Expansions

Expansion Lands

The Duncan Facility has the potential to produce 26,000 kg/year + and dramatically lower COOGS using planned
state of the art greenhouse facilitate modular rollout
15
MC Products & Distribution Brand – Satipharm AG

 Based in Switzerland, Satipharm is a pioneer in the development and distribution of

medical cannabis based pharmaceutical, nutraceutical and cosmetics products.
 Satipharm has developed the ‘first and only’ product on the market with a
pharmaceutical grade GMP (Good Manufacturing Product) production – unique
GelPellⓇ Microgel Capsules.
 Satipharm’s vision is to become a global leading company through the development
and commercialisation of its cannabidiol based products.
 Satipharm commenced production of its Gelpell Microgel Capsules in May 2015,
and is committed to boosting the sales of its flagship product throughout regulated
markets globally.
 Satipharm is currently preparing a significant marketing campaign to drive sales of
10 MG and 50 MG capsules commencing October focusing first on Germany and
Poland followed by entry into 10 additional EU countries in April 2017
 Further expansion plans include the introduction of a medical purposes food
supplement product and a dermatology product in select EU countries commencing
in May 2017
Made in Switzerland

Market leading pharmaceutical processing and distribution of sophisticated delivery technologies

16
Value Enhancing Transaction(1)
 MMJ appears to be significantly undervalued compared to its Peers (2):
−MMJ currently trades at 41% (3) discount to its Peers
−Given MMJ’s substantial portfolio of non-ACMPR assets this should not be the case
 Canadian listing will provide MMJ with platform to trade inline with TSX-listed Peers;
−1 Year – Peers: + 317% vs MMJ: -21%
−MMJ as an LP (July 1, 2016 to present) – Peers: +175% vs MMJ: -6%
 Recent increased corporate activity in the Canadian cannabis market has further highlighted the disconnect between MMJ and Peers:
−Since March 1, 2016 over $200M equity has been raised by MMJ’s Peers
−Share price performance March 1, 2016 – Peers: +167% vs MMJ: -23%
 The indicative valuation of post-transaction TSR shows a potential value unlock ranging from 44% - 92% of MMJ’s current share price – this is
without taking into account value of 100% ownership in PTL

Indicative Potential Value of Transaction to MMJ ($M) (1)

Total Potential Tx MMJ's Current $77
$80 Market Cap: $40M $67 $2.5
Value to MMJ $58 $2.5 92% Potential
$60 $2.5 44% Potential
68% Potential
Value Unlock
Value Unlock $74
$2.5M Potential Tx $40
Value Unlock
Cash Consideration $55
$65
$20
MMJ's 69% of Potential Post-
Tx TSR Equity Value --
Low Case Mid Case High Case
Source: Bloomberg. Share prices as at September 23, 2016 close. Notes: (1) Numbers, projections, valuation metrics and resulting valuations are indicative and for discussion purposes only and should not be used to base investment decisions on. (1) Includes
Aphria, Aurora Cannabis, Canopy Growth, Emerald Health Therapeutics, Mettrum, Organigram , PharmaCan Capital, Supreme Pharmaceuticals and THC Biomed Intl. (2) Based on MMJ’s $EV / Capacity metric $37,046 vs median of 7 relevant Canadian LPs
of $65,401. See page 13 for full details on comparables. 17
Canadian Cannabis Capital Markets - Peer Comparisons

Year to Date Change in Market Cap – MMJ vs Peers (%)

800% 784%
703%

600%
474%

400%
299%
264%
223%
200% 161%
93%
53%
23%
--
MMJ Canopy Mettrum Organigram Supreme Emerald Aphria Aurora Pharmacan THC Bio

Equity Raised Year to Date – MMJ vs Peers ($M)

$50 $47

$40 $35
$33
$30 $26
$23
$21
$20 $15

$10 $5
$1 $0.3
$0
MMJ Canopy Mettrum Organigram Emerald Supreme Aphria Aurora Pharmacan THC Bio
Source: Bloomberg, public filings. Share prices as at September 23, 2016 close. 18
MMJ is Undervalued – Comparable Trading Analysis
Equity Value ($M)(1) Enterprise Value ($M)
($m) ($m)
$2,940 $2,633
$500 $462 99500%
$500
$412
$381
$400 79500%
$400 $353
$326
$283
$300 59500%
$300

$200 $162 $173 $159

$142
39500%
$200
$121 $135
$114 $115
$100 $64 19500%
$100 $64
$37 $40 $36 $37

$0 -500%
$0

Current Capacity (kg/year) EV / Current Capacity ($/kg/year)

(kg) ($)
8,000 MMJ trades at discount to public Canadian LPs even though MMJ
6,940 $150,000 $132,690
EV includes substantial portfolio of non-ACMPR assets
$125,000 $116,890
6,000 5,400 $108,967
$100,000

4,000 3,500 $75,000 Median (ex MMJ): $65,401 $65,401

$59,391
2,500 2,600 $45,897
$50,000 $37,046 $38,602 $42,050
2,000 1,200
977 1,000 $25,000

-- --
MMJ Mettrum PF TSR Organigram Canopy Aurora Aphria Pharmacan Supreme
Pharmacan MMJ Supreme Organigram Aphria Mettrum Aurora Canopy (Tx Value)

MMJ should trade at a premium to its ACMPR-focused peers given its significant portfolio of non-ACMPR assets.
Source: Bloomberg, public filings. Share prices as at September 23, 2016 close. Notes: (1) Equity value is FDITM using the treasury method.
19
MMJ Valuation – Relative Share Price Performance
Relative Share Price Performance – Last Twelve Months
+317% MMJ Underperformed its
300%
MMJ AVG of 9 Can LPs GW 9 LPs Canadian Peers by 339%
over the last year.
200%
MMJ did not trade in
line with the 9 public
100% GW Canadian LPs over the
last year
+5%
--
-22%
MMJ Correlation
MMJ GW 9 LPs
(100%)
Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jun-16 Jul-16 Aug-16 Sep-16 R2 -0.10 -0.34

Relative Share Price Performance – July 1, 2016 to Present (2 nd Trading Day After MMPR License Grant)

180% MMJ Underperformed its

MMJ AVG of 9 Can LPs GW +175% Canadian Peers by 181%
160% 9 LPs from July 1, 2016 to present.
140%
120% Even after MMPR
100% licensing, MMJ has not
80% traded in line with the 9
60% GW
public Canadian LPs
40%
20% 17%
MMJ Correlation
-- -6% GW 9 LPs
(20%) MMJ R2 0.41 -0.55
Jun-16 Jul-16 Aug-16 Aug-16 Sep-16 Sep-16

Source: Bloomberg. Share prices as at September 23, 2016 close.

20
Potentially Unlocking Value – Illustrative Valuation of Can HoldCo
Illustrative Valuation of Post Merger TSR ($M)(1)
Low Case Mid Case High Case

$80 $55.6 $65.4 $75.2

Median $EV / Licensed Capacity $40
of Peers
--

+ 15% Discount to Median EV / Licensed

Capacity ($55,591/Kg)
Median EV / Licensed Capacity
($65,401/Kg)
15% Premium to Median EV / Licensed
Capacity ($75,211/Kg)
$80

$40 $16.3 $20.4

$12.2
EV / Base Case EBITDA FY + 1 of
Functional Foods and --
Nutraceuticals Comps (6-10x)(1) 6x Base Case FY+1 EBITDA 8x Base Case FY+1 EBITDA 10xBase Case FY+1 EBITDA

+ $80

$40 $12.5 $12.5 $12.5

TSR Cash ($M)
--
Cash Cash Cash

= $120 $80.3
$94.2 $108.1

Illustrative Equity Value of $80

TSR ($M) $40
--
Low Mid High
Source: Bloomberg, public filings, MMJ internal estimates. Share prices as at September 23, 2016 close. Note: (1) Valuation multiples, projections and resulting valuations are indicative and for illustrative and discussion purposes only.
Numbers, valuation metrics, projections and resulting valuations should not be relied upon and should not be used to base investment decisions on.
21
Proposed TSR Board of Directors

Andreas Gedeon, Mr. Gedeon, a former Officer in the German Navy, holds a degree in Educational Science from the University of Federal
Dipl.- Paed. Armed Forces Munich. He is an experienced businessman with proven expertise in large-scale and HR intensive projects.
His previous areas of business include media production, horticulture and commercial construction. As the founder of
Proposed CEO & Director MMJ, Mr. Gedeon currently oversees the global expansion strategy of the MMJ group.

Mr. Bednar is a Chartered Accountant with more than 18 years of direct professional experience in the financial and
Jason Bednar, B.Comm, CA regulatory management of companies listed on the TSX, TSX-V, American Stock Exchange and ASX. He is currently
the CFO and director of Canacol Energy Ltd., an oil and gas E&P company with an enterprise value of ~US$650M. Mr.
Proposed Director Bednar has significant public company management experience having held CFO positions at several international oil
and gas companies, most notably as founding CFO of Pan Orient Energy Corp. He previously sat on the board of
directors of several internationally-focused E&P companies, including being the past Chairman of Gallic Energy Ltd. Mr.
Bednar holds a Bachelor of Commerce degree from the University of Saskatchewan.

Peter Wall, LLB, BComm, Mr. Wall is a corporate lawyer and has been a Partner at Perth-based Steinepreis Paganin since July 2005. Mr. Wall
MAppFin, Ffin graduated from the University of WA in 1998 with a Bachelor of Laws and Bachelor of Commerce (Finance). He has
also completed a Masters of Applied Finance and Investment with FINSIA. Mr. Wall has a wide range of experience in
Proposed Director all forms of commercial and corporate law, with a particular focus on resources (hard rock and oil/gas), equity capital
markets and mergers and acquisitions. He also has significant experience in dealing in cross border transactions.

22
Proposed TSR Management
Stanislav Sologubb, PhD
CEO of Satipharm AG
Catherine Harvey
Chief Operating Officer
Daniela Vaschi []
CEO United Greeneries
David Cowern, B.Comm
(Hon)
VP Corporate Development
John Harris (Pchem), BsC
Head of Quality Assurance
Sologubov is an international sales and marketing expert with more than 15 years’ experience working with global healthcare
companies including Johnson & Johnson and Bausch + Lomb a robust track record in delivering sales growth and brings with
him a wealth of industry knowledge and contacts that will play a critical role in building MMJ’s market presence in Europe.
Catherine is a highly experienced pharmaceutical industry executive, with an extensive corporate background, having worked
for multiple pharmaceutical organisations both domestically and overseas. Most recently, Catherine held executive leadership
positions including Director of Business Development and Corporate Affairs at Mundipharma Pty Limited and Business
Development Manager at Norwegian Pharmaceutical company, Nycomed.
David is a finance and business development professional with ten years experience on both the sell side (investment banking)
and buy side (private equity). Previously, David held various positions at both large and boutique investment banks focusing on
capital raising and M&A; he also worked in the investment team at a large Dubai-based, MENASA-focused private equity
manager. Mr. Cowern’s experience make him a key contributor to many of MMJ’s corporate growth initiatives and corporate
finance exercises. David is responsible for evaluating and executing corporate development opportunities and acts as a
shareholder liaison
Mr. Harsris is a Registered Professional Chemist (BC) with over 20 years of laboratory and field experience in analytics and
quality control. He was manager and founder of Agrichem Analytical which has since become United Greeneries QC / QA sub.
Responsible for developing and implementing UG’s quality assurance programs to meet or exceed international pharmaceutical
standards and Health Canada ACMPR standards. Mr. Harris has a BSc in Chemistry from the University of Victoria and an
Environmental Operators Certificate
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