CSE: MGRO OTC: MGROF FRA: 0C0

Providing Natural, Science-Based Biological Solutions for High Value

Corporate Presentation

July 2020 April 2018 Disclaimer

The views expressed herein contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This Presentation should not be relied upon as a recommendation or forecast by MustGrow Biologics Corp. (“MustGrow”).

Certain statements contained herein constitute forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions are intended to identify forward-looking statements. Such statements reflect MustGrow's current views with respect to future events and are subject to certain risks, uncertainties and assumptions (known and unknown). Many factors could cause MustGrow's actual results, performance or achievements to vary from those described herein. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, sought, proposed, believed, estimated or expected. MustGrow does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Note that purchasing securities of MustGrow should be considered a risky investment as the securities are speculative in nature and are appropriate only for investors who are prepared to have their money invested for a long period of time and have the capacity to absorb a loss of some or all of their investment. There is no public market for the securities of MustGrow, and one may never develop, therefore investors may find it difficult to resell their securities.

The securities referred to in this Presentation have not been and will not be registered under the U.S. Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act of 1933 and any other applicable securities laws. This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, the securities, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 2 About MustGrow

MustGrow Biologics Corp. (CSE: MGRO / OTC: MGROF / FRA: 0C0) is an bio-tech company focused on providing natural, science-based biological solutions to replace synthetic chemicals used in high value crops such as organic fruit & vegetables. • Global chemistries are being banned or deregistered • Consumers demand food that is healthy, natural and safe. • Producers want to use safe products to protect their crops… but only if they work. • 100% owned patented Mustard-Derived technology • Natural Bio- that acts as a pre-plant treatment for soil-borne pests and diseases. • >110 independent trials confirming safety and efficacy • Compared to synthetic chemicals, we can compete on efficacy and potentially on price. • Tight capital structure • 37 million basic shares outstanding. • Management and advisors own 22% of total shares. • ~C$2.9 million cash with ~C$11 million market cap.

| MustGrow is primarily focused on disrupting the US$65 billion global pesticide market Safe and Effective Natural Products

3 Management, Directors & Advisors

Corey Giasson, MBA Brad Munro – Chairman President, CEO & Director • 20+ years as a VP, Investments with a national venture capital firm where he sourced, invested, and managed the activity of over 30 companies and • ~25 years of agriculture experience with an MBA invested $150MM and B.Sc. Ag Economics from the University of • Brad is currently a Director of Secure Energy Services Saskatchewan • Previous Co-founder & CEO of Rallyemont Brian Quigley – Director Energy, sold to Husky Energy • Co-Founder of Green Sky Strategy • Previous Vice President, at Anglo Potash, sold to • 16 years at Altria Group; including CEO of Altria’s innovation company BHP Matt Kowalski – Director • Director, VRM Labs Colin Bletsky • Past President & CEO and Natural Industries from 2002-2012 COO & Director • Previous Global Market Manager: Bio Control, Novozymes BioAg

• ~30 years of experience in agriculture Tom Flow – Director • Previous Vice President, BioAg at Novozymes • Founder & Co-CEO of The Flowr Corporation where he was responsible for the BioAg business • Previous Co-Founder of MedReleaf (sold for $3.2B) worldwide • Widely-recognised for cannabis cultivation thought leadership and • Colin holds a Bachelor of Science in Agriculture expertise from the University of Saskatchewan Jamieson Bondarenko, CFA, CMT – Capital Markets • Current: Advisor to Lexaria Bioscience Corp., Chairman of BriaCell Todd Lahti, CFA, CPA CA Therapeutics Corp. CFO • Previous Equity Capital Markets roles with Eight Capital, Dundee, HSBC • +30 years of business experience in finance and operating companies in a multitude of business Mark Hetherington – Scientific & Formulations Advisor sectors • Expert Director of Clinical Research in the Canadian cannabis • Has closed over 50 M&A, financing and licensing industry transactions totaling over $2.4 billion • Previously President of MCN BioProducts Inc., an Dr. David Maenz – Scientific & Production Advisor company, sold to Bunge • Inventor or co-inventor of 7 patents Ltd. in 2012 • Expert in processing and extraction from oilseeds

World-class team of agriculture and business professionals 4 Global Chemistries are Being Banned or Deregistered

U.S. appeals court orders EPA to ban pesticide said to harm children Judge Jed Rakoff directed the EPA to ban chlorpyrifos within 60 days, saying the agency failed to counteract scientific evidence that its residue on food causes neurodevelopmental damage to children. -- Reuters; August 9, 2018

Bayer says U.S. glyphosate plaintiffs more than double since July

Germany’s Bayer is now facing 42,700 U.S. Plaintiffs blaming its glyphosate-based weedkillers for their cancer, more than twice the tally in July and potentially raising any future settlement. -- Reuters; October 30, 2019

France bans pesticide metam sodium after people fall ill

The US Environmental Protection Agency (EPA) considers metam sodium a probable human carcinogen … Still, metam sodium is among the most widely used agricultural in the United States. -- Reuters; November 5, 2018

How Has This Pesticide Not Been Banned?

The pesticide known as chlorpyrifos is both clearly dangerous and in very wide use. It is known to pass easily from mother to fetus and has been linked to a wide range of serious medical problems, including impaired development, Parkinson’s disease and some forms of cancer. That’s not entirely surprising. The chemical was originally developed by Nazis during World War II for use as a nerve gas. -- The New York Times; December 17, 2019

5 Biologics vs. Chemistries

• MustGrow is focused on providing natural, science-based biological solutions that are both safe AND effective to replace synthetic chemicals used in high value crops • Crop producers want to use safe products to protect their crops… but only if they work

Safe Biologics

Chemistries

Harmful

Not Effective Effective

6 Proven Pre-Plant Bio-Pesticide; Not a Chemistry

100% Owned Patented Bio-Pesticide

Natural Mustard- Disease Derived Control

Safe & >110 Independent Effective Trials

Nematode Organic Control

New Liquid Formulation

“Granular Format” is already EPA- approved – Now seeking registration for Liquid Formulation TerraMG

TerraMG: EPA (US) and PMRA (Canada) registration approval estimated by Q1-2021

7 Value Proposition for Fruit & Vegetable Growers

• MustGrow’s original granular technology had excellent efficacy but only modest market penetration due to: • Bulky granular product that was costly to transport, therefore high end use price per acre • Fruit & vegetable growers prefer application through drip line and not via broadcast methods • MustGrow’s Liquid Formulation (TerraMGTM) has great potential to compete on price compared to chemistries: • 2.5-5.0 gal/acre had 100% control of key soil based fungus. • ~20% of U.S. crop acres are designated as buffer zones à acres near schools, yards, etc. where chemical crop inputs are not allowed... MustGrow will target these as well as all conventional acres

Projected Global Fumigation Market (2025; 4.6% CAGR)

Global: US$1.2B

Potential Revenue from 10% US Market Penetration

US: $504MM (42%) ~$50MM

8 Source: Globenewire Technology Has Potential for Multiple Applications

MustGrow testing completed and data confirmed

MustGrow testing in progress

Funded collaboration with CTRF underway

100% control in 24 hours lab test (May 2020) $4B $1B $2B

Cannabis Crop Fruit & Veg Soil Canola Clubroot Container Tobacco Nematode & Protection Fumigation Disease Fumigation Disease Fumigation $200MM est market $1.2B est global $1B est loss (Canada) $2B est global $4B est global loss size (Canada) market size market size

Imported into Colombia for testing (June 2020)

$18 Billion $13 $15 $10 Billion Billion Billion

E. coli, Salmonella, Listeria Non Selective Herbicide Grain Toxins Bananas – Panama Disease $10B est global loss $13B global market size $15B est global loss $18B est global loss 9 Source: Globenewire, MustGrow estimates MustGrow’s Products Can Treat These Pests and Diseases

MustGrow’s natural biologics provide treatment of these pests and diseases

Powdery Mildew* Botrytis (gray mold) Fusarium (root rot) Nematodes

Rhizoctonia Fungus Pythium Root Rot Verticillium Wilt Phytophthora Root Rot Sclerotinia Stem Rot

* MustGrow has in licensed a product to treat powdery mildew for cannabis and hemp in Canada. Note that this product was previously used in the Canadian cannabis hemp industry, but had cannabis and hemp removed from the label due to corporate reasons. 10 Capital Structure

CSE: MGRO / OTC: MGROF / FRA: 0C0

Debt has no maturity; no interest payable; no scheduled principal payments. Due upon change of control of MustGrow and/or certain revenue milestones. 11 Agriculture Comparable Companies

Company Symbol Description Rev (USD) EV (USD) EV / Rev

Cargill, Incorporated Private Food, agricultural, financial and industrial products $114 Bn $43 Bn 0.4 x BASF SE BASF-DE Largest chemical producer in the world $66 Bn $74 Bn 1.1 x Archer Daniels Midland Company ADM-NYSE Global food processing and commodities trading $65 Bn $25 Bn 0.4 x Mitsui & Co. / Certis USA 8031-Tokyo Global conglomerate with American and European pesticide business $64 Bn $63 Bn 1.0 x Bayer AG BAYN-DE Multinational pharmaceutical, life sciences and agiscience company $49 Bn $101 Bn 2.1 x Louis Dreyfus Company Private Agricultural goods merchant; feeds, fertilizers, agricultural chemicals, etc. $34 Bn $12 Bn 0.4 x Corteva Inc. CTVA-NYSE Agricultural chemical and agriscience; former unit of DowDuPont $14 Bn $21 Bn 1.5 x Univar Solutions Inc. UNVR-NYSE Global chemical and ingredients distributor $9.3 Bn $5.3 Bn 0.6 x Lonza Group AG LONN-SF Pharma biotech & nutrition and specialty ingredients $6.2 Bn $39 Bn 6.2 x Scotts Miracle Gro Company SMG-NYSE Branded consumer products for lawn, garden care, $3.2 Bn $8.9 Bn 2.8 x UPL Limited 512070-Mumbai Agrochemicals, specialty chemicals and industrial chemicals $2.8 Bn $7.2 Bn 2.5 x Novozymes A/S NZYM-B-OMX Global biological crop solutions $2.2 Bn $16 Bn 7.6 x FMC Corporation FMC-NYSE Chemical manufacturing; agricultural products and other industries $1.3 Bn $16 Bn 12.8 x American Vanguard Corp. AVD-NYSE Specialty and agricultural crop protection products $468 M $514 M 1.1 x Beyond Meat Inc. BYND-NAS Plant-based meat substitutes $298 M $8.6 Bn 28.7 x Impossible Foods Inc. Private Plant-based meat substitutes $130 M $3.6 Bn 27.8 x Isagro S.p.A. ISG-Milan Crop innovation: Fungicides, insecticides, microorganisms, fumigants, etc. $118 M $34 M 0.3 x Marrone Bio Innovations Inc. MBII-NAS Crop protection biological innovations $29 M $177 M 6.0 x Bee Vectoring Technologies Inc. BEE-V Crop protection biological innovations $0 M $26 M n.a. Yield10 Bioscience, Inc. YTEN-NAS Crop and yield innovations $0 M $2.8 M n.a. MustGrow Biologics Corp. MGRO-C Crop protection biological innovations $0 M $8.1 M n.a.

Top 5 companies have >US$350 Billion combined revenues

12 Active Global Acquisition Landscape

Date Buyer Target Size (USD) x Rev Target Description Sep 2018 Univar Inc. Nexeo Solutions Inc. $2.0 Bn 0.5 x Chemical and ingredients distributor Jun 2018 Bayer AG The Company $66 Bn 4.4 x American agrochemical and agricultural Jun 2017 Mitsui & Co. / Certis USA LAM International $13 M n.a. Bio-Pesticide May 2017 ChemChina AG $43 Bn 2.9 x Portfolio of chemicals and patent-protected Mar 2016 Univar Inc. Nexus Ag Business Inc. $22 M 4.4 x Wholesale Canadian distributor micronutrients, fertilizers, nutrients Mar 2015 UPL Ltd. DVA Agro Do Brasil $294 M 2.3 x Agro-chemicals Oct 2014 Platform Specialty Products Arysta LifeScience Ltd. $3.5 Bn 2.3 x Insecticides, fungicides, herbicides, biostimulants - agrochemical and biosolutions Sep 2014 FMC Corporation Cheminova A/S $1.8 Bn 1.6 x Multinational crop protection; insecticides and herbicides Mar 2014 Bayer AG Biagro Group $16 M 2.7 x Seed-applied inoculants, microorganisms, pest management Jun 2013 Novozymes A/S TJ Technologies $53 M 3.5 x Biological solutions that enhance plant growth, increase stress tolerance, yields Jan 2013 Bayer AG Prophyta GmbH $25 M n.a. Microbial crop protection products; control of Sclerotinia and nematodes Jan 2013 Monsanto Agradis Inc. $85 M n.a. Sustainable agricultural solutions, microbes, crop productivity Nov 2012 Novozymes A/S Natural Industries Inc. $16 M 3.0 x Biocontrol in key U.S. markets on high-value crops like fruits and vegetables Sep 2012 BASF SE Becker Underwood $1.0 Bn 4.3 x Seed treatments, biological crop protection, gardening and animal nutrition Sep 2012 Syngenta AG Pasteuria Bioscience, Inc. $113 M 4.9 x Biological technology for nematode control Sep 2012 Syngenta AG Devgen NV $522 M 15.8 x focused Jul 2012 Bayer AG AgraQuest Inc. $425 M 10.1 x Biological pest management solutions based on natural microorganisms Dec 2010 Novozymes A/S EMD/Merck Crop BioScience $283 M 3.8 x Sustainable agricultural biologicals solutions, biofertility Aug 2010 Novozymes A/S Turfal Biotecnologia Agricola n.a. n.a. Bioinnoculants and biopesticides Sep 2009 Bayer AG Athenix Corp. $400 M n.a. Microbial crop protection genetics; nematode resistance research Mar 2009 Bayer AG AgroGreen Biological Products $31 M n.a. Crop protection biological development products and biocontrol agents Oct 2007 Novozymes A/S Philom Bios Inc. $22 M 1.6 x Microbial inoculants for the agricultural industry Mar 1999 DuPont Co. Pioneer Hi-Bred International $7.7 Bn 4.2 x Agricultural seeds including insect and herbicide resistance

Median 3.5 x Mean 4.3 x

Global acquisition appetite for biological products that work

13 Thank you

Corey Giasson, President & CEO Colin Bletsky, COO [email protected] [email protected] p: 306-717-1128 p: 306-241-6095

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