OCTOBER 2019 DISCLAIMER.

The information contained in this presentation (the “Presentation”) is being provided for informational and discussion purposes only. The information set forth herein does not purport to be complete or all information that a recipient would deem relevant in analyzing Bhang Inc. (together with its affiliates, the “Company”). This presentation is not, and under no circumstances is to be construed as, a prospectus, offering memorandum, or advertisement or a public offering of securities. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees and expenses. Investors should conduct their own due diligence, not rely on the assumptions or estimates displayed in this presentation, and are encouraged to consult with a financial advisor, attorney, accountant, and any other professional that can help understand and assess the risks associated with any investment opportunity. The Company does not make any representation or warranty express or implied as to the accuracy, completeness or correctness of the information contained herein and no reliance should be placed thereon. It is not the intention to provide a complete or comprehensive analysis of the Company’s financial or business prospects. The information contained in these materials should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date these materials were prepared. This presentation contains information obtained from third parties, including but not limited to market data. The Company believes such information to be accurate but has not independently verified such information. To the extent such information obtained from third party sources, there is a risk that the assumptions made and conclusions drawn by the Company based on such representations are not accurate. This document and the information available herein are not intended to provide you with any financial, accounting, tax, or legal advice. All figures unless stated otherwise are in $USD.

FORWARD-LOOKING STATEMENTS Certain information contained in this presentation constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “outlook”, “continue” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Forward-looking statements include, but are not limited to, the growth in the market, the size of revenue of the cannabis market, the Company’s future revenues, the construction of the Company’s facilities, the ability of the Company to obtain financing for the development of its projects, the Company’s business plan and access to future funding and projects, the ability of the Company to repay its loans, the Company’s financial forecasts, plans for expansion of the Company’s business, statements about potential market developments and trends, demand for the Company’s products and services and other statements that are not historical facts. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant legal, business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Such risks and uncertainties include but are not limited to, the fact that the Company is an early stage company with limited operating history and resources, execution of the Company’s business plan requires raising additional capital, the cannabis market is highly regulated and those regulations and enforcement priorities of governmental authorities may change, the cannabis market is highly competitive, technical advances in the industry as well as changing political and economic conditions present within the industry will impact the success of the Company, as well as other risks as provided in the Company’s Listing Statement dated July 9, 2019 as filed under the Company’s profile on www.sedar.com. Except as required by law, we disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. No forward-looking statement or projections can be guaranteed. Accordingly, you should not place undue reliance on any forward-looking statements or information.

2 DISCLAIMER (CONT’D.)

CANNABIS-RELATED PRACTICES OR ACTIVITIES ARE ILLEGAL UNDER U.S. FEDERAL LAWS The concepts of “” and “recreational cannabis” do not exist under U.S. federal law. The U.S. Federal Controlled Substances Act classifies “marihuana” as a Schedule I drug. Accordingly, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. federal law. Strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. Any such proceedings brought against the Company may adversely affect the Company’s operations and financial performance. The disclosure required under Canadian Securities Administrators Staff Notice 51-352 (Revised) – Issuers with U.S. -Related Activities can be found in the Company’s Listing Statement dated July 9, 2019 as filed under the Company’s profile on www.sedar.com.

CAUTIONARY NOTE TO UNITED STATES INVESTORS The securities of the Company described herein have not been and will not be registered under any United States federal or state securities law and may not be offered and sold in the United States, except that securities may be offered and sold to an investor that is an “accredited investor” as defined in Regulation D of Securities Act of 1933, as amended (the “U.S. Securities Act”), of the United States of America or to “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act. Prospective investors will be required to represent, among other things, that they qualify as an “accredited investor” or “qualified institutional buyer” and are familiar with and understand the terms of the offering and have all requisite authority to make such investment. If the securities of the Company are sold in the United States such securities will be “restricted securities” within the meaning of Rule 144 under the U.S. Securities Act. The securities may be resold, pledged or otherwise transferred only pursuant to an effective registration statement under the U.S. Securities Act or pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act.

IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE COMPANY, INCLUDING THE MERITS AND RISKS INVOLVED. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR BY ANY STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES OR ANY CANADIAN PROVINCIAL SECURITIES REGULATOR PASSED ON THE ACCURACY OR ADEQUACY OF THIS PRESENTATION. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

3 AWARD-WINNING CANNABIS CPG

Growing our competitive advantage through exceptional product performance, innovative packaging and brand loyalty Driven by our pursuit of bold flavors.

9 100+ 1500+ $30M

P r o d u c t s Ye a r C P G Stores Selling Products sold Across Brand Operating History Across Globe i n 2 0 1 8 2 P o r t f o l i o

Serving Both Cannabis Over 30 Awards Product Sales in 9+ Through Licensees and Markets Including the World’s Countries Across and Bhang’s own Best Edible Cannabis N.A., & Europe Distribution Chocolate Bar3 Network

(1) 8 active brands with 8 brands scheduled for roll-out in 2019 (2) Based on the total $US dollar amount of products sold by the licensee partner at the retail price (3) The Bhang chocolate bar is considered one of the most-awarded cannabis chocolate bars in the world 4 INVESTMENT HIGHLIGHTS

• First national and global cannabis brand

• Founded in 2010 by award-winning trailblazer in cannabis industry

• Bhang is one of the most-recognized CPG brands in cannabis

• Existing brand serves as foundation for vertical expansion program, including THC, Hemp-derived CBD, and Terpene-infused products as Bhang’s product quality, leadership and longevity will continue to drive trust in the marketplace

• Expansive portfolio of trend-setting products and intellectual property assets, combined with a well established distribution and licensing network will enable Bhang to capture significant market share across multiple target demographics

• Top tier partnerships with Trulieve, Origin House, Indiva in the U.S. and Canada

• Experienced management team lead by master chocolatier, multinational alcoholic beverage and 2nd generation cannabis executives

• Unique business model with multiple revenue stream opportunities

Bhang’s innovative product portfolio, global distribution channels, and strong management team positions the Company to become the first global cannabis powerhouse

5 STRONG HISTORY OF INNOVATION AND TRUST

CPG Business Approach Lab Testing First to bring proven CPG Started testing every batch 8 strategies to cannabis market. years prior to it being a requirement.

Compliant Packaging Standardized Dosing Forerunner in FDA compliant Pioneered standardized, packaging for non-cannabis consistent dosing and products. responsible dosing practices.

Full Liability Protection Consumer-Friendly Pioneered full product liability Production insurance. Championed fair pricing model for high-efficacy CBD products to people in need.

Being First Matters – Bhang has laid the groundwork for operational success and has been a trusted choice of consumers for 9 years

6 LEADERSHIP TEAM

Jeremy Applen Scott J. Van Rixel Jamie Pearson Samantha Collins Chief Science and Founder, Chairman & COO CMO CEO Procedures Officer

Cannabis Trailblazer. Brand Rare second-generation Quality management and Award-winning brand Architect. Top cannabis executive with cannabis system marketer who held a VP level 100 in Cannabis recipient. decades of experience in implementation design leadership position at global operations, deal expert. Treasury Wine Estates. structuring and negotiation as Proven track record in a former real-estate Proven track record of innovative product & brand Served on advisory panels to executive. success growing global design from over two Association of Public Health brands across multiple decades with major Laboratories and Centers for demographics and retailers. Voted one of the High Times Disease Control and geographies. Most Influential Women in Prevention. Cannabis. Responsible for Bhang’s Founding member of the global brand strategy, brand National Cannabis Industry Vice Chairman ASTM positioning, innovation and Association and a European Fluent in German and English, Committee D37 on cannabis. expansion. certified Chef de Cuisine responsible for European RTM and Master Chocolatier. & global operational roll-out across market sectors.

7 PRODUCT VERTICALS

By offering four product verticals: THC, Hemp-derived CBD, Terpene, and CBD Brokerage, Bhang will offer products across markets and value-chains in North America and Europe.

THC Products Hemp-Derived CBD Terpene Products CBD Brokerage Products

Pure CBD isolate, full- Recreational and medical Medical & wellness-focused, Cannabis-inspired products spectrum and raw

Type value-added products value-added products designed for the mass market hemp products sold to Product Product businesses in large quantities

CBD Isolate, Chocolate, Hemp Dedicated supply of CBD Chocolate, Pre-rolls, Vapes, Cigarettes, Gum, Vapes, E- E-liquid, Terpene Enhanced isolate ranging from below Flower liquid, Lip Balms, Beet Juice, Hemp Cigarettes .03% to THC N/D, full- Tinctures, Capsules, Gummies Products spectrum hemp oil

Option to expand brokerage Beverages, Topicals, Coffee Beverages, Mints, Gummies Chocolate, Beverages quantities to capitalize on

Soon Products

Coming Coming significant CBD demand

Limited to states and Subject to state-by-state Lawful throughout the world Subject to state-by-state countries with recreational regulations and many regulations and many to sell in all major retailers or medical cannabis laws international markets international markets Market Product Product

8 BUSINESS MODEL

License Wholesale Direct to Consumer CBD Brokerage

Derivative Hemp-derived CBD Hemp-derived CBD Hemp THC Product Terpene Terpene CBD Isolate

CBD Isolate CBD Isolate Chocolate Chocolate Chocolate Hemp Cigarettes Hemp Cigarettes Pure CBD Isolate Pre-rolls Vapes & E-liquid Vapes & E-liquid Form Factor F/S Hemp Oil Vapes Gum Gum Raw Hemp Products Flower Capsules Capsules Tinctures Tinctures Gummies Gummies

Gross Margin 6% Royalty + Licensing 50% 75% 10% Range Fee

18-month plan in place to significantly lower COGS, secure pricing premiums and achieve superior margins

9 PATHWAY TO GROWTH

• Dedicated product innovation and development team based in Florida • Extensive intellectual property including 200+ trademarks, domains and patents Product • Proven track record of building brands and successfully launching new products Development • Challenging market dynamics with innovative new offerings that address modern trends • Utilizing consumer insights and macro trend data to create compelling brands • Robust product pipeline ready to be launched in the next 12 months

• Creating partnerships with companies that share approach to delivering exceptional sensory experiences • THC licensing agreements with Origin House, Indiva and Trulieve among private partners to expand Distribution throughout United States and Canada Expansion • Signed individual CBD distribution agreements with distributors into Spain, France, Italy, Belgium, Germany, Luxembourg and the U.K. with additional agreements to be signed over the next 12 months • Well-established infrastructure to support new markets

• Launched terpene-based products line ( and THC free) to introduce Bhang brands in non- New Business cannabis legalized jurisdictions Verticals • Launching CBD topical products to capitalize on wellness, beauty and grooming markets • CBD brokerage vertical to capitalize on long-standing relationships and rapidly-growing demand

• Bhang has an aggressive growth by acquisition plan, pursuing a number of accretive acquisitions Strategic • Recent acquisition of Red Ace Organics positions Bhang to become a leader in the health and wellness Acquisitions beverage market with distribution to 1,400 more stores including Whole Foods, Sprouts Market and Amazon

10 SPOTLIGHT

BRAND 11 BRAND PORTFOLIO

Anchored by our 8X winning gourmet chocolate bars.

12 CAPITALIZING ON THE MOST PROFITABLE GROWTH TRENDS

Performance Athletics Nicotine Grooming / Beauty Global Market Cannabis & CBD / High Involved Health Cessation / E-Liquid

Millennial/Xennial Millennial 21-35 Smokers 18+ Millennial/Xennial 25-50 65% Male 60% Male 30-50 Demographic 70% Male 35% Female 40% Female 50% Male / Female 30% Female

Market Size by 2025 in $USD(1)

Mota, ERB, 1914 Charlie Bravo Bhang Brand Bhang, Bhang CBD Red Ace Terpzilla Delta / Ohana

Over the last 9 years, we have dedicated key resources to learn more about our customers and identify future customers to create compelling brands that capture the breadth of this rapidly evolving market.

(1) Source: Global Cannabis & CBD – Grand View Research, Inc, Brightfield Group Performance Athletics – Grand View Research, Inc, Male Grooming – IMARC Group Female Cosmetics/Beauty – Orbis Research Nicotine Cessation / E-Liquid – Grand View Research, Inc. 13 EXPANDING INTO INTO NEW NEWMARKETS MARKETS

<2018 2019 >2019 Mass Market Europe Spain, France, Italy, Germany, All 50 States Belgium, Luxembourg & and Medical & Recreational Asia Pacific the U.K. South Korea California (negotiations in progress) (2013) Medical & Recreational Michigan (2015) Ohio

Illinois Puerto Rico (2016) Nevada Florida Mexico 2 Canada (negotiations in progress)

Arizona (negotiations in progress)

(1) Hemp-Derived CBD Products and Terpene Product Verticals are expected to be sold initially; other Verticals to be sold in the future as the respective countries’ legislations evolve (2) Canada venture with Indiva completed in Q3 2018 – sales pending legislation 14 CREATING PRODUCTS THAT PEOPLE LOVE

Since 2010, Bhang has led the industry in product quality, testing and consumer satisfaction

15

THC PRODUCTS

Chocolate, Pre-rolls, E-liquid and Flower

• Manufacturing and distribution contracted to licensees paying royalties and licensing fees • Targeted to medical, wellness and adult-use markets • Regulated on a state-by-state, country-by-country basis • High-quality, high-value line with independent lab testing • Innovative product design and messaging • One of the most awarded cannabis product lines in the world

17 HEMP-DERIVED CBD PRODUCTS

CBD Isolate, Chocolate, Hemp Cigarettes, Gum, Vapes, E-liquid, Lip Balms, Tinctures, Capsules, Beet Juice and Gummies

• Controlled manufacturing, through co-manufacturing, in-house manufacturing • Network of global distribution partners alongside Bhang’s own channels

18 CBD BRAND SPOTLIGHT (COMING SOON)

19 TERPENE PRODUCTS

Hemp Cigarettes, E-liquid

• Started production in Q4 2018 • First mass-distributed cannabis brand • First “cannabis-inspired” and “cannabis-derived” terpene product line with the flavors of cannabis but without the THC • Controlled manufacturing, through co-manufacturing, in-house manufacturing, and distribution channels • Targeted to the mass market (Drugstores, Big Box Retailers) • Initial product roll-out includes e-liquid & infused hemp cigarettes

20 • Bhang has signed a supply agreement with a 1,000,000+ sq. ft. Kentucky hemp farm to secure supply of high-quality hemp and CBD isolate for WE Bhang’s CBD product line GROW

• Secures supply at attractive prices WITH THE BEST • Excess supply of hemp and

CBD isolate to be sold at • First harvest in Q4 2018 profit to market players

21

U.S. THC DISTRIBUTION PARTNERS

CSE: OH1 CSE: TRUL • California distribution and • Florida distribution and manufacturing manufacturing agreement in world's agreement with state’s largest dispensary largest cannabis market network

• Expected to reach $11 Billion2 • Medical cannabis market is projected to Medical hit $1.7 Billion3 across 200,000+ medical • Agreement covers Bhang edibles + vape product lines patients Medical/Recreational

Florida • Agreement covers Bhang chocolate with • Partnership provides infrastructure to option to extend product line via

California support all California revenue generation efforts Trulieve’s 37 Florida dispensaries (Targeting 44 by Q4 2019)

(1) Cresco Labs (CSE: CL) is finalizing its acquisition of Origin House. Contract carries through under Cresco Labs (2) Cowen Group estimate for 2030 (3) Arcview Market Research/BDS Analytics estimate for 2022 23 U.S. THC DISTRIBUTION PARTNERS (CONT’D.)

Distribution Population / Medical Medical Cannabis Licensee Coverage Agreement Patients Market Size1 Medical THC

3M / 43M Annual Nevada Medical/Rec Exclusive Tourists $800M distribution and manufacturing agreement for medical Bhang THC- Michigan 9.9M / 300K+ Medical $750M infused products

Chocolate Bars

New Mexico 2.1M / 70K+ Medical $372M Oral Sprays

Flower

Illinois 12.7M / 60K+ Medical $400M Cones

Pre-rolls

Ohio 11.7M / 25K+ Medical $274M Vape Products

(1) The Arcview Group Market Estimate for 2022 24 U.S. CBD DISTRIBUTION

Online • Bhangcbd.com launched in April, 2019 • Distribution to U.S. states where CBD is legal • Anticipate e-commerce sites selling our CBD products to become a large revenue and EBITDA source

Brick and Mortar • Partnering with Mr. Checkout to distribute across US national and independent retailers including national grocery and health stores, vitamin retail outlets and pharmacies • Targeting 2000+ brick and mortar locations selling CBD products by Q4 2019

66% 34% CBD COVERAGE FUTURE OPPORTUNITY

25 GLOBAL DISTRIBUTION PARTNERS

Canada / Europe Worldwide Puerto Rico

THC/CBD CBD CBD • 50/50 joint venture with Indiva • Distribution agreements for Bhang • Exclusive distribution (CSE:NDVA) and Bhang for CBD products across Europe agreement with local partner Canadian and select worldwide for Bhang CBD products distribution • Partners have distribution rights into: throughout Puerto Rico and • Canadian-based manufacturing surrounding islands for Bhang product lines Spain, France, Italy, Belgium, Germany, (chocolates, gums and oral Luxembourg & and the U.K. sprays, isolates, vapes and accessories) • Infrastructure to support revenue generation efforts in $10 Billion Canadian market1

(1) Eight Capital Estimate for 2024 (May 2018) 26 CELEBRITY PARTNERSHIPS

Cypress Hill Bhang Partnership with Grammy - nominated and renowned hip-hop group Cypress Hill Packaging for pre-rolls & flower designed to appeal to cannabis enthusiast, hip-hop & Latin markets Products are distributed under CHB – Cypress Hill Bhang brand Partnership has exposure to over 6.6 million Cypress Hill + Bhang followers on Social Media platforms 27 BEVERAGE ACQUISITION

Leading Beet Wellness Company • As announced on September 9, 2019, Bhang has acquired Red Ace Organics to distribute “un-BEET-able” organic CBD & beet based wellness products

• Positioned to become a leader in health and wellness beverage market

• Increases distribution by 1,400+ stores across the US including Whole Foods Markets and Amazon online

• Plans to launch Red Ace-branded line of CBD/Terpene-style beverages and products, including functional sparkling beverages

28 CAPITAL STRUCTURE

Share Class # Of Shares

Subordinate Voting Shares (Listed) 49,112,627

Multiple Voting Shares (Unlisted) 56,634.128

Total Shares Outstanding1 105,746,755

Escrowed Shares2 48,439,840

Shares Reserved For Issuance3 7,482,096

• Debt-free • Completed C$5.6M financing – 2019 • Use of Proceeds: • Brand and product development • Product inventory • Acquisitions • Official CSE List Date – July 11, 2019 • Stock Symbol – CSE: BHNG / OTCQX: BHNGF

1 Multiple voting shares are convertible at 1:1000 subordinate voting common shares 2 Assuming conversion of all multiple voting shares 3 Subordinate voting shares reserved for issuance under options, warrants and convertible notes 29 CSE: BHNG / OTCQX: BHNGF BhangNation.com #LiveLifeWithABhang

BOARD OF DIRECTORS

Scott J. Van Rixel Daniel D. Nauth Jamie Pearson Stephen M. Gledhill, Will Waggoner Chairman Director Director CPA, CMA Director Director

Chief Creative + Brand Trusted legal advisor Award-winning second- Financial strategy and Lawyer for 30+ years with Architect. 25+ years with with experience advising generation cannabis management consulting two decades of global major retailers on U.S.-Canada cross- executive with 20+ years expert transactional experience border capital markets, operational experience M&A and corporate and Holds numerous CFO CEO of Mexico Petroleum High Times Top 100 in securities transactions High Times most influential positions - CO2 GRO, Company cannabis recipient and regulatory women in cannabis recipient Caracara Silver, DelphX compliance Accomplished writer & Capital Founding member National speaker Cannabis Industry Association & a European certified Chef de Cuisine Member of advisory board and Master Chocolatier of Liberty Leaf (CSE: LIB) and The Group

32 OPERATIONAL SUCCESS

Won 1st place Essie Award for best extraction company and best at Best of the Burque Expanded licensee Expanded licensee Launched terpene and producer and producer network Completed internal products to select network to Arizona to New York and reorganization with renewed retailers Extended award- and California Michigan focus on executive Launched Cypress Hill winning product line to recruitment, market research include new sprays, Initiated vape Won 1st place for best partnership & product program and new product line oils and vapes edible at the Jamaica development Won 1st place for & LA High Times best edible at the World Cup Denver High Times Cannabis Cup

Q1 & Q2 Q3 & Q4 2010 2011 2012 2013 2014 2015 2016 2017 2019 2018 2018

st Won 1 place for best Announced partnership Launched first edible (Cherries & with CannaRoyalty Premiered 10+ different chocolate bar at Cream) at the San (Origin House) in products including International Francisco Medical California Hemp cigarettes Cannabis Cup Expanded licensee and Cannabis and Hemp Expanded licensee Scott Van Rixel and Jamie Expo in San Francisco producer network to Illinois Expanded network to and producer network Canada through JV with Pearson named to High to New Mexico Announced collaboration Times' Most Influential st Indiva and to Florida Won 1 place for best with Cypress Hill People in Cannabis edible at the SF Opened head office in through Trulieve st Medical Cup Miami Won 1 place for best licensing agreement Won 1st place for best CBD, packaging, vape edible at Best of the Burque st Won 1st place for best Won 1 place for best cartridge and infused edible, cannabis st edible at the LA High edible products at 805 Won 1 place for best products and Times Cannabis Cup Cannabud Cup & Jack edible at Weedcon manufacturing at Herer Cup multiple competitions Completed Joint Venture w/ Oceana Coffee Extended CBD distribution to Puerto Rico and Strong momentum to achieve our aggressive growth strategy throughout Europe Acquired Red Ace Organics

33