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Investor Presentation February 2021

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Investor Presentation February 2021 Investor Presentation February 2021 Big Rock Brewery Inc. (TSX: BR) Legal Disclaimers Caution Regarding Forward-Looking Statements Certain statements contained in this presentation constitute forward-looking statements. These statements relate to future events or Big Rock's future performance. All statements, other than statements of historical fact, may be forward- looking statements. Forward-looking information are not facts, but only expectations as to future events and generally can be identified by the use of statements that include words or phrases such as, "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "likely" "may", "project", "predict", "propose", "potential", "might", "plan", "seek", "should", "targeting", "will", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Big Rock believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by investors as actual results may vary materially from such forward- looking statements. These statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement. In particular, this presentation contains forward-looking statements pertaining to Big Rock’s products and offerings, Big Rock's strategy, business plans and expected results of operations, including, but not limited to, prospective opportunities and the results of each of the foregoing, expectations as to Big Rock's long term strategy, opportunities and objectives; the anticipated results of Big Rock's strategic capital plan; Big Rock's expectations regarding global and national market trends; and Big Rock's 2021 capital plan pro forma illustrative growth. With respect to the forward-looking statements listed above and contained in this presentation, management has made assumptions regarding, among other things, that volumes in the current fiscal year will remain constant or will increase, input costs for brewing and packaging materials will remain constant or will not significantly increase or decrease, there will be no material change to the regulatory environment in which Big Rock operates and there will be no supply issues with Big Rock's vendors nor significant changes in consumer demand. Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking information and statements contained herein include, but are not limited to the inability to continue to reduce the net mark-up rate in Alberta, increased challenges posed by the COVID-19 pandemic and the inability to continue to grow demand for Big Rock's products. Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information and statements included in this presentation are made as of the date hereof and Big Rock does not undertake any obligation to publicly update such forward-looking information and statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws. Caution Regarding Non-GAAP Financial Measures These slides and the accompanying verbal presentation reference non-GAAP financial measures, including “earnings before interest, taxes, depreciation and amortization (“EBITDA”) and “EBITDA margin”. These are non-GAAP financial measures and should not be considered as an alternative to net income, operating income, or any other measure of financial performance calculated and presented in accordance with GAAP. These non-GAAP measures have inherent limitations and therefore undue reliance should not be placed on them. For an explanation and reconciliation of EBITDA to related comparable financial information presented in the Financial Statements prepared in accordance with IFRS, refer to the MD&A for the nine months ended September 30, 2020. © 2021 Big Rock Brewery. All rights reserved. Big Rock has registered the trademark “Big Rock”. Big Rock also owns other trademarks each of which is registered in Canada and/or the United States, including the following: Alberta Genuine Draft, Alta Light, Big Rock Grill, Big Rock Honey Brown Lager, Citradelic Single Hop IPA, Dunkelweizen, Eddies, Grasshopper Ale, Magpie Rye Ale, McNally’s Extra Ale, Scottish Style Heavy Ale, Warthog Ale and Rock Creek. The Corporation uses the name “Traditional Ale” under license. All third-party product and company names are for identification purposes only and may be trademarks of their respective owners. Big Rock Brewery Inc. (TSX: BR) 2 Current Snapshot Big Rock Today Traded: TSX: BR Recent Price (as at 2/5/21): $4.75 Shares Outstanding: 6.98 million Market Cap (as at 2/5/21): $33.2 million Founded: 1985 Employees: 130+ Brands: Breweries: Calgary, Vancouver and Toronto Q3-2020 LTM Net Sales: $43.2 million Cash (as at 2/5/21): $0.5 million Total Credit Facilities $16 million - Total Drawn (as at 2/5/21) $4.4 million Capital Lease (as at 2/5/21): $1.2 million Big Rock Brewery Inc. (TSX: BR) 3 Our People NAMED EXECUTIVE OFFICERS CORE COMPETENCIES OF MANAGEMENT TEAM AND BOARD Executive Prior Experience Industry & Broad CPG Brand Manufacturing at Scale Sustainability & Public Policy Wayne Arsenault Corey Nutrition Company Inc., Moosehead Breweries Limited, Experience Experience Experience President & CEO Molson Coors Don Sewell National Bank Financial Inc., Peters & Co. Limited Chief Financial Officer Paul Gautreau 35 years at Big Rock VP, Operations & Brewmaster Paul Howden The Coca-Cola Company VP, Sales Financial / Capital Allocation Technology Public Company Board Brad Goddard Experience Experience Experience Director, Business Development & Steam Whistle Brewing Government Relations BOARD OF DIRECTORS Director Current Role Michael G. Kohut CFO, Hammerhead Resources Inc. Chairman Gender, Ethnic or Domestic & International Human Capital Kathleen McNally-Leitch Independent Businesswoman Vice Chair National Diversity Distribution Experience Management Jim Riddell Chairman, President & CEO, Paramount Resources Ltd. Director Stephen J. Giblin Independent Businessman Director P. Donnell Noone Principal & Managing Partner, VN Capital Management, LLC Director Alanna McDonald President, Maybelline Garnier essie at L’Oreal USA Director Major personnel improvements have been made across the P.L. (Lonny) Tetley business over the last 18 months Partner, Burnet, Duckworth & Palmer LLP Corporate Secretary Big Rock Brewery Inc. (TSX: BR) 4 Summary of Asset Base Big Rock’s current portfolio of assets, production expertise and management experience provides a unique platform for future growth… CURRENT STATISTICS (ANNUAL) POST 2021 CAPITAL PLAN Owned ▪ Brewing, packaging and warehousing facilities, restaurant and head office on 10.8 acres of land Total packaging capacity of >1.6 ▪ Brew Size*: 200 hl system and 20 hl system million hectolitres, high-speed ▪ Packaging Capacity**: >1,200,000 hl capabilities on multiple can ▪ High-speed capabilities on 355ml standard formats and tunnel pasteurization cans only Leased ▪ Brewing, packaging and warehousing OTHER ASSETS facility, restaurant, retail space and office: ~13,000 sq. ft. ▪ Liberty Commons at Big Rock Brewery (leased) ▪ Brew Size*: 25 hl system ▪ Packaging Capacity**: ~100,000 hl ▪ Packaging Capabilities: 473ml cans, kegs Leased ▪ Brewing, packaging and warehousing facility and retail space: ~13,000 sq. ft. ▪ Brew Size*: 35 hl system ▪ Packaging Capacity**: ~100,000 hl ▪ Packaging Capabilities: 473ml cans, bottles, kegs ▪ Edmonton Warehouse and Distribution *Only required for beer and malt-based beverages. **Capacities have been revised to a 50-week, 24/7 operation Centre (owned) at 80% OEE. Big Rock Brewery Inc. (TSX: BR) 5 The Big Rock Way VISION MISSION STATEMENT Triple Our Size…compete for ‘Canada’s “All for Craft, Craft for All” Largest Independent Brewer’ VALUES THE BIG ROCK WAY Energizers with Edge who can Execute 90-day projects working ON the business Driving/encouraging OWNERS not RENTERS Big Rock Brewery Inc. (TSX: BR) 6 Long Term Strategy EXECUTION ROAD MAP 1 – Gear Up 2 – Fill Up 3 – Drink Up Strategic Capital Plan Pursue Material Volume Growth in Calgary M&A and Brand Investment OPTIMIZE CAPACITY / IMPROVE UTILIZATION GROW HIGH WASTE REDUCTION TO REDUCE COST MARGIN MIX ▪ Complete Calgary capital investment project ▪ Win material co-packing contracts from ▪ Pursue portfolio complementing to enable growth pipeline, innovation robust business development pipeline acquisitions process and minimize waste ▪ Achieve growth targets in owned, licensed ▪ Fuel growth in owned brands ▪ Complete IT and digital transformation and private label brand portfolios projects to: ▪ Meaningful investments in ‘better-for-you’ ▪ Achieve growth targets in new, on-trend innovations □ Enhance cybersecurity; innovations □ Implement sales portal and e-commerce; □ Enhance internal reporting and business intelligence; □ Enhance demand planning and warehouse management; and □ Optimize internal processes ▪ Optimize underperforming assets A long-term sustainable growth
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