Psychedelic Inspired Medicines Corporate Presentation www.mindmed.co

October 2019 corporate presentation Securities Laws complete findings of the entire referenced report or article. to obtain the necessary FDA and other approvals, inconclusive or negative results from clinical trials, , MindMed not electing to The information contained in this presentation (the “Presentation”) CAUTIONARY NOTE ON FORWARD LOOKING INFORMATION is about Mind Medicine, Inc. (“MindMed” or the “Company”), proceed with any of the medicines or treatments discussed herein, Disclaimer This Presentation contains “forward-looking statements” and its principals, its business and the industry in which it is a MindMed not being able to build production capacity should its “forward-looking information” within the meaning of applicable participant. The information is presented for informational trials be successful, and the Company not being able to close the securities laws (collectively, “forward-looking information”) with purposes only and does not constitute an offering of securities or RTO on the timing described herein or at all. respect to the Company and its subsidiaries. Statements in this otherwise constitute an invitation or inducement to any person Presentation that are forward-looking information are based To the extent any forward-looking information contains forecasts to underwrite, subscribe for, or otherwise acquire or dispose on currently available competitive, financial, and economic or financial outlooks, such information is being provided solely of, securities of, in or by the Company or any of its principals or data and operating plans as of the date of this Presentation to enable a reader to assess MindMed’s financial condition affiliates. 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This Presentation does not constitute looking information can be identified by the use of words such as appropriate for any other purpose, including investment decisions. an offer of securities, and no offer or sale of securities will be “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, Such information, as with forward-looking information generally, conducted in any jurisdiction where such offer or sale is prohibited. “forecasts”, “intends”, “anticipates”, will”, “projects”, or “believes” is, without limitation, based on the assumptions and subject to the The securities referred to in this Presentation are not and will or variations (including negative variations) of such words and risks and other cautionary statements set out above. 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Except for statements of historical fact, information or warranty of any kind is or can be made with respect to the registration requirements of the U.S. Securities Act of 1933 and contained herein constitutes forward- looking information, accuracy or completeness of, and no representation or warranty applicable state securities laws and any other applicable laws. including, but not limited to: statements pertaining to the should be inferred from, our projections or the assumptions Neither the U.S. Securities and Exchange Commission or any development and commercialization of any medicine or treatment, underlying them. state or foreign securities commission reviewed or passed upon or the efficacy of either of foregoing, the likelihood of success of There can be no assurance that such information will prove to the accuracy or adequacy of this Presentation. MindMed makes any clinical trials or of obtaining FDA or other regulatory approval, be accurate or that management's expectations or estimates of no representation or warranty, expressed or implied, as to the the likelihood of obtaining patents or the efficacy of such patents future developments, circumstances or results will materialize. accuracy or completeness of the information contained in this once granted, and the potential for the markets that MindMed As a result of these risks and uncertainties, the results or events Presentation or any other information (whether communicated in is anticipating to access, as well as the statements on the slides predicted in this forward-looking information may differ materially written or oral form) regarding MindMed or its affiliates transmitted “Potential Catalysts” and “Significant Investment in Clinical from actual results or events. Because of the risks, uncertainties or made available to you. MindMed expressly disclaims any and Development and Drug Discovery Over Next 24 Months.” and assumptions contained herein, prospective investors should all responsibility for any direct or consequential loss or damage of Forward-looking information is not a guarantee of future not read forward-looking information as guarantees of future any kind whatsoever arising directly or indirectly from: (i) reliance performance and is based upon a number of estimates and performance or results. Nothing in this presentation is, or should on any information contained herein, (ii) any error, omission, or assumptions of management at the date the statements are be relied upon as, a promise or representation as to the future. inaccuracy in any such information, or (iii) any action resulting made including among other things assumptions about: the therefrom. Accordingly, readers should not place undue reliance on forward- Company’s ability to raise capital to complete its plans and fund its looking information. The forward-looking Information in this No Reproduction or Distribution studies, the medical and commercial viability of the contemplated Presentation is made as of the date of this Presentation. MindMed The contents of this Presentation are not to be reproduced or medicines and treatments being developed, the ability of the disclaims any intention or obligation to update or revise such distributed to any third Company to raise additional capital as the Company continues information, except as required by applicable law, and MindMed party, including the general public or the media, without the to develop its products, and the Company being able to close does not assume any liability for disclosure relating to any other express written consent the reverse takeover transaction (“RTO”) on the timing described company mentioned herein. of MindMed. herein or at all. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to CAUTIONARY NOTE TO EUROPEAN INVESTORS Market and Industry Data significant business, social, economic, political, regulatory, European laws, regulations and their enforcement, particularly This Presentation includes market and industry data that has been competitive and other risks and uncertainties, contingencies and those pertaining to anti-money laundering, and investments obtained from third party sources, including industry publications. other factors that could cause actual performance, achievements, in non-traditional products or activities are in flux and vary MindMed believes that the industry data is accurate and that actions, events, results or conditions to be materially different dramatically from jurisdiction to jurisdiction. The enforcement the estimates and assumptions are reasonable, but there is no from those projected in the forward-looking information. Many of these laws – some of which carry criminal liability - and their assurance as to the accuracy or completeness of this data. Third assumptions are based on factors and events that are not within effect on shareholders are uncertain and involve considerable party sources generally state that the information contained the control of the Company and there is no assurance they will risk and may expose shareholders in that jurisdiction to potential therein has been obtained from sources believed to be reliable, prove to be correct. prosecution and criminal and civil sanction. Accordingly, all but there is no assurance as to the accuracy or completeness of potential investors located in Europe (including without limitation, Although MindMed has attempted to identify important factors included information. Although the data is believed to be reliable, the United Kingdom) should take their own, independent legal that could cause actual results, performance or achievements MindMed has not independently verified any of the data from advice based on their own circumstances prior to making any to differ materially from those contained in the forward-looking third party sources referred to in this Presentation or ascertained investment into the Company (whether directly or indirectly, or information, there can be other factors that cause results, the underlying economic assumptions relied upon by such acting on an agency or principal basis). sources. References in this Presentation to research reports or to performance or achievements not to be as anticipated, estimated articles and publications should be not construed as depicting the or intended, including, but not limited to: MindMed not being able corporate presentation 01 In certain circumstances, purchasers resident in certain provinces of Canada are three years (with respect to purchasers resident in Ontario) or six years (with respect provided with a remedy for rescission or damages, or both, in addition to any to purchasers resident in Saskatchewan and New Brunswick) after the date of the Rights of rescission other rights they may have at law, where an offering memorandum (such as this transaction that gave rise to the cause of action; (d) with respect to purchasers presentation) and any amendment to it contains a misrepresentation. Where used resident in Nova Scotia, no action shall be commenced to enforce a right of action herein, “misrepresentation” means an untrue statement of a material fact or an for rescission or damages after 120 days from the date on which payment for the omission to state a material fact that is required to be stated or that is necessary securities was made by you; (e) the Company will not be liable if it proves that to make any statement not misleading in light of the circumstances in which it was you purchased the securities with knowledge of the misrepresentation; (f) in the made. These remedies, or notice with respect to these remedies, must be exercised case of an action for damages, the Company will not be liable for all or any portion or delivered, as the case may be, by the purchaser within the time limits prescribed of the damages that it proves do not represent the depreciation in value of the by applicable securities legislation. securities as a result of the misrepresentations; and (g) in no case will the amount recoverable in such action exceed the price at which the securities were sold to The following summary is subject to the express provisions of the applicable you. The foregoing is a summary only and is subject to the express provisions of securities laws, regulations and rules, and reference is made thereto for the the Securities Act (Ontario), the Securities Act (New Brunswick), the Securities Act complete text of such provisions. Such provisions may contain limitations (Nova Scotia) and the Securities Act (Saskatchewan), and the rules, regulations and and statutory defenses not described here on which Mind Medicine, Inc. (the other instruments thereunder, and reference is made to the complete text of such “Company”) and other applicable parties may rely. Purchasers should refer to the provisions contained therein. Such provisions may contain limitations and statutory applicable provisions of the securities legislation of their province for the particulars defenses on which the Company may rely. of these rights or consult with a legal adviser. In Manitoba, the Securities Act (Manitoba), in Newfoundland and Labrador, the The following is a summary of rights of rescission or damages, or both, available to Securities Act (Newfoundland and Labrador), and in Prince Edward Island, the purchasers resident in the provinces of Ontario, New Brunswick, Nova Scotia and Securities Act (PEI), provide a statutory right of action for damages or rescission Saskatchewan. If there is a misrepresentation herein and you are a purchaser under to purchasers resident in Manitoba, Newfoundland and PEI, respectively, in securities legislation in Ontario, New Brunswick, Nova Scotia or Saskatchewan you circumstances where this presentation or an amendment hereto contains a have, without regard to whether you relied upon the misrepresentation, a statutory misrepresentation, which rights are similar, but not identical, to the rights available right of action for damages, or while still the owner of the securities, for rescission to Ontario purchasers. against the Company. This statutory right of action is subject to the following: (a) if you elect to exercise the right of action for rescission, you will have no right of action Notwithstanding that the Securities Act (British Columbia), the Securities Act for damages against the Company; (b) except with respect to purchasers resident (Alberta), and the Securities Act (Québec) do not provide, or require the Company in Nova Scotia, no action shall be commenced to enforce a right of action for to provide, to purchasers resident in these jurisdictions any rights of action in rescission after 180 days from the date of the transaction that gave rise to the cause circumstances where this presentation or an amendment hereto contains a of action; (c) no action shall be commenced to enforce a right of action for damages misrepresentation, the Company hereby grants to such purchasers contractual after the earlier of (i) 180 days (with respect to purchasers resident in Ontario) or rights of action that are equivalent to the statutory rights of action set forth above one year (with respect to purchasers resident in Saskatchewan and New Brunswick) with respect to purchasers resident in Ontario. after you first had knowledge of the facts giving rise to the cause of action and (ii)

corporate presentation 02 Paradigm shift: Psychedelics as Medicines? Growing scientific evidence demands a reconsideration of the therapeutic benefits of psychedelic substances

Public opinion ​is changing​ Schedule I Drugs Transformative (Psychedelics) Medicines

LSD​ (Acid)​ Psilocybin Drug addiction Alcoholism (Magic Mushrooms)​ MDMA​ (Ecstasy)​

Ibogaine Migraines Depression PTSD Ketamine​

Since the 1960s, psychedelic ​ Historical data and new scientific​ Psychedelics as medicines are gaining acceptance by the media substances have been under studies suggest therapeutic and public opinion​ researched and under discovered benefits of psychedelics​ Source: CBS 60 Minutes 10/13/19; How to Change Your Mind by Michael Pollan​ corporate presentation 03 MindMed Is Defining A New Asset Class​: Psychedelic Inspired Medicines

MindMed is advancing medicines based on psychedelic substances through clinical trials. Assembling the most compelling IP portfolio, clinical pipeline and drug development platform in the psychedelics space.

Non-Hallucinogenic Medicines ​ Hallucinogenic Therapies​

Microdosing 18–MC Psilocybin LSD LSD / Psilocybin (based on Ibogaine) High dose High dose

corporate presentation 04 Psychedelics are VERY different substances than Cannabis

Clinical Development Approach ‘Medical / Recreational’ Approach​ High Barriers to Entry & Rate Limiting Factors Decriminalization ≠ Legalization – GMP Production & Supply of Drugs​ Applying the Cannabis commercialization model to – Research Scientists with Psychedelics Background​ psychedelics simply will not work. – Clinical Drug Development Teams with FDA experience​ Illegal & Fringe Businesses with Low Barriers to Entry: – Clinical Data Licensing ​ – “Mushroom Grow-Ops” – Development of IP/ Patent Filings​ – "Medical mushrooms” – Pre-Clinical, Phase I,2,3 trials cost time & $$$ – "Mushroom R&D Research Centers” – “Offshore Psychedelic Clinics / Retreats”

FDA Approval/ Federal Regulation Enables No Regulatory Pathway / ​Legal Certainty in Market Exclusivity North America or Europe IP Defendability No Defendability = Institutional Capital = No institutional capital

corporate presentation 05 Path to commercial value Confirmed regulatory path through traditional FDA drug reviews & approvals​

Non-Hallucinogenic Medicines Hallucinogenic Therapies

Derived from psychedelics, zero to A dose of generic psychedelics which negligible hallucination effect causes a “hallucinogenic experience​”

Doctor prescription Direct supervision by Rx therapist & doctor

Pharmacy pickup, take-home In-clinic treatment only

18-MC (non- Spravato (Esketamine) Psilocybin LSD High Dose ​ hallucinogenic LSD Microdoses​ FDA Approved Q2 2019 Microdoses MDMA High Dose​ ibogaine)​ Psilocybin High Dose​

corporate presentation 06 Clinical Development / Commercial Landscape​ MindMed is establishing itself as an industry leader in clinical development of psychedelics.

We envision 2 categories of commercialization in the space:​

Non-Hallucinogenic​ Hallucinogenic ​ (High Dose)​ MindMed has strong lead position in ADHD Addiction Depression PTSD non-hallucinogenic LSD 18-MC Esketamine​ MDMA ​ category​ MindMed MindMed ​ Spravato​ MAPs Phase 2: Phase 1B/2: Approved Q2 Phase 3 1st mover in microdosing ADHD Opioid 2019 ​ (TRD) Phase 2 trial Withdrawal & Psilocybin Non-Profit Organizations​​ Use Disorder Compass​ st (*No ability to invest) ​ Advanced 1 mover ​Phase 3: TRD in addiction which targets pleasure center Psilocybin​ of the brain​ USONA​ Phase 2: MDD

corporate presentation 07 Psychedelic inspired medicines value creation opportunity

Esketamine established precedent for Psychedelic Inspired Medicines for depression ​ Additional Market Opportunities:

Large & defendable revenue Disruption-Ready Markets for upside as FDA Approved Medicine Psychedelic Inspired Medicines: (by U.S. Patient Population) Addiction Substance Use Disorders: 20.3 M $1.75B Alcohol Use Disorder: 14.4 M in global peak sales by 2024 Nicotine Addiction: 14.4 M (Consensus Forecasts)​ ADHD Adult ADHD: 19.9 M SPRAVATO (esketamine) ​ Approved Psychedelic by FDA Anxiety (Treatment Resistant Depression) Anxiety Disorders : 40 M (1 in 5 Americans)

Source Evaluate Pharma; SAMSHA National Survey on Drug Use 2018 ; ADAA Survey corporate presentation 08 Addiction Program

corporate presentation 09 Substance addiction is a high unmet medical need that deserves a new approach

Addiction is a disease of the brain All addictive substances result in 20.3 M dysregulation of dopamine reward pathway Americans with substance abuse disorder Brain images showing decreased dopamine2 receptors Current treatments do not address in the brain of a person addicted to mechanism of addiction​ cocaine versus a • Substitution Therapy (like a nicotine patch)​ nondrug user. • Addictive Properties​ • Low Efficacy, High Relapse Insight: Existing solutions might not be working because they do not address dopamine dysregulation in patients

Source Evaluate Pharma; SAMSHA National Survey on Drug Use 2018 ; ADAA Survey ; Cell, The Brain on Drugs: From Reward to Addiction, Nora D. Volkow corporate presentation 10 New solutions needed to solve the opioid crisis

The Opioid Crisis Costs the U.S. Example: Suboxone Economy $500 B / year​

Opioid use disorder population overview​ >90% failure rate

1.8 Million OUD Rate of unsuccessful outcomes

(after Suboxone taper after a Sufferers 12-week treatment) (~0.4% of population)

“If we're just 0.5 Million substituting one opioid patients treated for another, we're not for OUD moving the dial much” – Tom price, former U.S. (~30% of sufferers)​ Secretary of HHS

Opioid crisis has already bankrupted two pharma companies; patients & pharma companies need an effective treatment solution URGENTLY

corporate presentation 11 18–MC Ibogaine

CH30 N 18-MC: Transformational approach to addiction C2H5

H N H based on the psychedelic Ibogaine H

Pragmatic way to expedite approval process of 18-MC and time to market due to urgency of Opioid Crisis & new FDA incentives

18-MC = Ibogaine 2.0​ synthetic analogue of Ibogaine

Targeting dopamine fluctuations to Ibogaine reduce drug cravings (psychedelic substance) Normalizes dopamine levels ​ Ibogaine study shown to maintain Modulates “rewarding” effects​ abstinence in 50% of opioid addicts Protects against cue induced relapse​ (4 weeks after detoxification) Potential for broad applicability across all addictive substances Ibogaine ​has drawbacks non-psychoactive agent​ Cardiac Toxicity Risk non-hallucinogenic​ Long, Daunting Hallucinogenic Experience neuro and cardio safe​

corporate presentation Sources: Alper/ Kingslery Brown “Treatment of opioid use disorder with ibogaine: detoxification and drug use outcomes” 12 Effects of 18-MC on opioid withdrawal signs

15 15 3

18-MC reduces the 10 g 10 2 eight loss Diarrhea Flinchin intensity of several signs W 5 5 1 of morphine withdrawal

0 0 0 Control1 02 04 0 Control1 02 04 0C ontrol 10 20 40 18-MC (mg/kg, i.p.) 18-MC (mg/kg, i.p.) 18-MC (mg/kg, i.p.)

15 100 20 30

s 80 15

g 10 20 60

ooming 10 Buryin Gr d Dog Sha ke 40 5 10 We 5 20

0 0 0 0 Control1 02 04 0C ontrol 10 20 40 Control1 02 04 0C ontrol 10 20 40 18-MC (mg/kg, i.p.) 18-MC (mg/kg, i.p.) 18-MC (mg/kg, i.p.) 18-MC (mg/kg, i.p.)

corporate presentation 13 Pragmatic Development Plan Potential Rapid Market Entry due to FDA Incentives & Opioid Crisis Urgency​

New FDA Incentives for Opioid Treatments Faster FDA Review and Potential Additional indications Opioid Opioid Use Approval (April 2018) Withdrawal Disorder (OUD) Evaluate in other substance use disorders (SUD): Accelerated Approval/Breakthrough Symptoms Phase 3 Pivotal Designation for development of treatments Seek Conditional Alcohol, for opioid use disorders. Approval Nicotine / Nicotine Vaping (Phase 2 Only) Cocaine FDA lowered threshold for Meth approval (August 2018) New endpoints: “fewer occasions per day” “A new drug that prevents addiction rather than total abstinence. versus treating existing addiction New draft guidance issued to encourage would…qualify for breakthrough development of novel medicines. therapy designation and would Historically, the FDA has relied heavily on receive a high level of attention from abstinence as the primary efficacy endpoint. the agency’s reviewers” – Dr. Scott Gottlieb (FDA Commissioner) – BIO June 2018

corporate presentation 14 18-MC : Concrete Path To Value / Market Phase 1b/ II Plan Intends To Expedite Time To Market​ NDA filing Previous Work Completed​ Opioid Withdrawal Market approval Q2 2020 2020 2021 Pre-Clinical Phase I Phase IB Phase 2 Conditional approval 14 Patients, 30-50 Patients, Value Drivers conduct phase 3 single dose Long term Dosing (150 Patients) Will leverage FDA once on market Conducting short – Prove efficacy of 18-MC urgency for Opioid US $6.8m NIDA Grant Phase 1B allows us in opioid withdrawal Withdrawal solution funded pre-clinical work to shorten the Phase for an expedited 2021/22 Potential – Long term dosing 2 study in Opioid ‘conditional’ approval Withdrawal Results Results IND Filed (FDA) Safe in Humans Value Drivers Opioid Withdrawal As effective as No Cardiac Toxicity 28 Days dosing 2020 2021 2022 ibogaine as anti- in Humans readies / expedites addictive molecule Non- Phase 2 in opioid Phase 2 Phase 3 Produced Drug Product Hallucinogenic withdrawal for quicker FDA approval potential approval Animal Studies Higher blood levels Value Drivers Pivotal Study / higher absorption (225 Patients) (350 Patients) 2022 Potential PK Studies – Proving – Further proving Toxicology Studies efficacy of 18- efficacy of (Monkeys) MC for opioid 18-MC for opioid Cardiac Toxicology dependence dependence (Monkeys) – Long term dosing – Long term dosing

corporate presentation 15 Large Revenue Potential in Opioid Addiction

Treatments that are NOT highly effective Disruptive Medicines Achieve Significant still generate huge annual revenues Market Share 5 Years Post Launch:

Methadone Naltrexone Crowded (4-7 incumbents): 27.3%​ • Tecfidera: 20.9%​ • Otezla: 21.7%​ • Lantus: 32.3%​ • Stelara: 29.0%​ iion • Fosamax: 32.7%​ ota aes Uncrowded (1-2 incumbents): 53.3%​ Buprenorphine • Cinryze: 46.5%​ • Eylea: 48.6%​ • Micera: 55.6%​ Buprenorphine • Zemplar: 62.5% & Naloxone

corporate presentation Source: National Survey of Substance Abuse Treatment Services, 2017-2018; Drugs@FDA, Symphony Data 16 Microdosing Program

corporate presentation 17 Microdosing Growing ‘wellness trend’ through illegal non-medical self administration

Extensive anecdotal evidence suggests Psilocybin & LSD microdosing may: increase focus decrease anxiety increase creativity improve mood

"What you get is the best parts of Adderall with none of the side effects.”​ Sub-perceptual / non- hallucinogenic High Dose: 100 ug LSD causes a "software engineers, biologists and hallucinogenic experience ​ mathematicians - say that it induces Microdose: 10-25 ug LSD a "flow state", aids lateral thinking Unproven data, Limited rigorous and encourages more empathetic interpersonal relations.”​ science and clinical trials

corporate presentation 18 Opportunity: ​ Transition a fast growing illegal self- medication trend to an FDA Medicine

Microdosing Transition to FDA Medicines​ FDA Approved Medicines​ Illegal Recreational / Non-Clinical Trend ​ How do we achieve this?​

– Widespread usage in Silicon Valley ​ – Millenials seek ways to get off ADHD Abuse deterrent formulations IP stimulants meds: Ritalin, Adderall ​ LSD Micro Psilocybin Micro MindMed developing IP that enables LSD, illegal & self-prescribed usage​ Psilocybin microdoses to be taken home No medical supervision or supporting clinical data​ Rx Doctor prescription FDA clinical trials MindMed will conduct FDA clinical trials Pharmacy pickup, take-home performed with rigorous science enabling clear regulatory pathway​

ADHD Anxiety corporate presentation 19 ADHD: With 70% of Sufferers Untreated DISRUPTIVE THERAPIES NEEDED ADHD market is dominated by stimulants Adult ADHD Others population overview Atomoxetine Non-stimulant Non-stimulant (guanfacine)

545 Non-stimulant 567 (clonidine)

921 19 Million ADHD 3,657 Stimulant (amphetamine) adult sufferers $12.1 Billion (~7.4% of 18+ population) Dexmethylphenidate ex-factory Stimulant 5.5 Million treated 3,046 sales & 77M for Adult ADHD scripts Lisdexamfetamine Stimulant

(~29% of sufferers)​ 3,328

Methylphenidate Stimulant Dextroamphetamine & Amphetamine GlobalData; Faraone and Biederman, 2005; Fayyad et al., 2007; Kessler et al., 2006 Stimulant

Drugs@FDA, Symphony Data; Note: Sales included here are total corporate presentation brand sales and not necessarily disease- or age-specific 20 Advancing an LSD Microdosing program for ADHD First ever commercial Phase 2 drug trial testing increase of focus of microdosing LSD Phase 2 Study (Adult ADHD) Begins mid 2020

Pre-Clinical Phase I Phase 2 Phase 3

75 patients = No need for Phase I trial Multi-site study Acquiring access to toxicology & safety Long-term dosing data from a partner institution – 3 month study duration – Dosing every 4 days

Progress to date 3-Arm Randomized Study secured drug product for trial – Placebo (Sugar) – Middle Dose 12.5 ug Principal Investigator​ signed – High Dose 25ug Protocol development underway Research facility identified Endpoints ADHD – Increased Focus – Psychiatric Evaluations

Potential Outcome / Value Driver – Prove efficacy of LSD microdose increases focus in ADHD patients – Readies for larger, multi site Phase 3 Study – Long-term dosing efficacy corporate presentation 21 IP / Pipeline Assembly Recent patent filings for 18-MC expected to provide patent protection for >20 years

18-MC for treatment of substance use disorders MindMed will further assemble its Provisional application USSN 62/908,754 pipeline and IP portfolio through: Filed October 1, 2019 Based on suprising and unexpected results from first-in-human clinical study – Co-Development Agreements

Micro-dosing of psychedelic compounds – In-Licensing with leading Academic Exclusively licensing an extensive portfolio of human data research institutions of existing & from existing and future human studies pertaining to the new clinical research in psychedelics micro-dosing of psychedelic compounds –Proprietary Clinical trials with Tamper resistant formulations new psychedelics IP which enables psychedelic derived drugs to be taken home To be filed Based on proprietary technology to reduce the abuse potential of solid and liquid pharmaceutical formulations

corporate presentation 22 Clinical pipeline summary

Non-hallucinogenic psychedelics Area of research Pre-clinical Phase 1 Phase 2 Phase 3 Next anticipated milestone

Opioid wihdrawal 18–MC 2020: Phase 2 initiation treatment

Opioid use disorder 2021: Phase 3 initiation (OUD)

Micro-dose LSD Adult ADHD 2020: Phase 2 initiation

Hallucinogenic psychedelics

High-dose LSD* Cluster headaches

Pharmacologic effects

Neuronal effects

Serotonin receptor LOI to co-develop multiple Psilocybin comparison hallucinogenic LSD & Psilocybin projects​ Anxiety

Major depressive disorder (MDD)

Multi-dose psilocybin* SSRI comparison

*non-disclosed co-development

corporate presentation 23 Potential catalysts Critical milestones accelerating over next 12 months

Past execution 12 Month Milestones

Formation of Mind Med [PrivateCo] (June 2019) 18-MC in Addiction Medicine: Activation of 18-MC Addiction Medicine program – Complete Phase 1B (2020) (July 2019) – Phase 2 first patient enrolled (2020) US$6.2M non-brokered financing (Sept 2019) Micro-Dose LSD in ADHD: Executed LOI for strategic ADHD LSD Microdosing program (Sept 2019) – Phase 2 first patient enrolled (2020) Announced Definitive Arrangement for RTO and Corporate Development: path to liquidity (Oct 2019) – Complete pre-RTO brokered financing (Nov 2019) Strengthened enterprise capabilities including strategic investors (Bruce Linton, Kevin O’leary – Complete RTO and transition to Mind Med PubCo and James Bail), and veteran pharma CEO (Rob (Jan 2020) Tessarolo) – Announce additional psychedelic program LOIs / Definitive Agreements with Neurology and Psychiatry programs

corporate presentation 24 Capital and Financial Information

Capital structure1 Cash position1

Cap table Cash on hand $6.4M

Shares Proceeds on % of equity outstanding issue (CDN $)

Founders 90,000,000 59% shares

Financing 61,993,671 $ 8,242,369 41% round 1

151,993,671 $ 15,559,547 100%

1as of September 30th, 2019

corporate presentation 25 Significant Investment in Clinical Development and Drug Discovery Over Next 24 months

12 Month Capital Needs Next 24-36 Months Intended growth capital CDN (M) % CDN (M) G&A 2.1 7.2% REGISTRATION TRIALS $175-215 Clinical Development - 12.2 41.5% Addiction Addiction Medicine Phase 2 - Opioid Withdrawl $12-16

Clinical Development - Addiction Medicine Phase 3 - Opioid Use Disorder $65-80 8.0 27.0% Microdosing Micro-dosing LSD Phase 2 - Adult ADHD $16-18

Early Research & Discovery 5.3 18.0% Micro-dosing LSD Phase 3 - Adult ADHD $80-100

Audit, Legal and Exchange 1.9 6.3% DRUG DISCOVERY PLATFORM $45-75 Fees Psychedelic discovery platform Underwriting Fees BUSINESS DEVELOPMENT $10-30

TOTAL $ 29.5 100% Acquisition of Proprietary Psychedelic programs

corporate presentation 26 Psychedelic Inspired Medicines: The time is NOW MindMed is building a leading company in the space

Investors in MindMed

Bruce Linton Joined MindMed as Kevin O'Leary: Psychedelics will strategic investor & board member attract institutional capital

“Through psychedelic “There’s Probably “I invested in MindMed inspired medicines, MindMed untapped value, which because they are approaching has the potential to treat will only go to the psychedelics through rigorous the most challenging and people who are at the science and FDA trials” damaging mental health beginning and bold” issues of our time.” “The psychedelics space is “foresees a “similar run” vastly different than cannabis - James Bailey, for psychedelics as and legalized recreational MindMed Investor cannabis, but doesn’t use will never happen; propose that they psychedelics need to be also become social or approved as FDA drugs” recreational products.” Sep 19, 2019 ​ Sep 19, 2019 ​

corporate presentation 27 Building an Psychedelic Medicine Industry Leader​

Press coverage on MindMed

​“next big space in the pharmaceutical “A derivative of ibogaine with similar effects sector – next-generation psychedelic- on withdrawal and craving, but without the inspired medicines.” cardiotoxicity or strange visions. He’s pretty sure he found it.”

​“MindMed just raised $6.2 million in a bid to make psychedelics without their “Company Will Test Psychedelic for Treatment characteristic hallucinogenic qualities.​” of Opioid Addiction”

“This Company is Developing a Drug Based on Ibogaine for the Opioid Crisis”

corporate presentation 28 Team

JR Rahn, Stephen L. Hurst, JD Donald Gehlert, PhD Scott Freeman, MD Stanley D. Glick, PhD, MD Rob Tessarolo Founder, Director Founder & Exec Chairman Chief Scientific Officer Chief Medical Officer Inventor 18-MC, Chair of CEO, Director Scientific Advisory Board

Carol Nast, Ferdinand Belga Jeanne Bonelle Paul Van Damme Nico Forte EVP, Global Marketing Senior Vice-president EVP, Global Quality Chief Finacial Officer Chief of Staff Pre-commercialization

corporate presentation 29 Board of directors Scientific advisory board

Bruce Linton JR Rahn Rob Tessarolo John Rotrosen, MD Kenneth Alper, MD Eric Edwards, MD, PhD Director Founder, Director CEO, Director

Stephen L. Hurst, JD Perry Dellelce, Stanley D. Glick, PhD, MD Jed Rose, PhD John Blacker, PhD Natalie Wheeler, PhD Sarah McCallum, PhD Founder & Exec Chairman Director Director

corporate presentation 30 Thankyou! Corporate Presentation www.mindmed.co

Contact: [email protected]

October 2019 corporate presentation