International Biopharmaceutical Company and Leader in Canadian Medical Cannabis

February 2017

Herbal bottles

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DisclaimerGENERAL

In this presentation, all amounts are in Canadian dollars, unless otherwise indicated. Capitalized terms that are not defined in this presentation have the meanings ascribed to them in the Prospectus. Any graphs, tables or otherinformation in this presentation demonstrating the historical performance of CanniMed Therapeutics Inc. (“the Company” or “CMED”) or any other entity contained in this presentation are intended only to illustrate past performance ofsuch entities and are not necessarily indicative of future performance of CMED or such entities.

FORWARD-LOOKING INFORMATION

This presentation contains “forward-looking information” within the meaning of applicable securities laws in Canada. Forward-looking information may relate to our future outlook and anticipated events or results and may includeinformation regarding our financial position, business strategy, growth strategies, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results,performance, achievements, “EBITDA” profile accelerating towards near term breakeven, growth in the number of registered patients, prospects or opportunities or the markets in which we operates is forward-looking information. Insome cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “an opportunity exists”, “outlook”, “prospects”, “strategy”, “intends”,“believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations,intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’sexpectations, estimates and projections regarding future events or circumstances.

Forward-looking information contained in this presentation and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditionsand expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can beno assurance that the underlying opinions, estimates and assumptions will prove to be correct.

Whether actual results, performance or achievements will conform to the Company’s expectations is subject to a number of known risks and uncertainties, including those listed under the heading “Risk Factors” in our prospectus datedDecember 21, 2016 (available on sedar.com) and the risk that the Company will not reach breakeven within the timeframe anticipated and that the number of registered patients will not increase at the rate expected. Although we haveattempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information in this presentation, there may be other risk factors not presently known to us or thatwe presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information in this presentation. There can be no assurance that suchinformation will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, whichspeaks only as of the date made. The forward-looking information contained in this presentation represents our expectations as of the date of this presentation or the date indicated, regardless of the time of delivery of the presentation.However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities lawsin Canada.

An investment in our shares is subject to a number of risks that should be considered by a prospective purchaser. Prospective purchasers should carefully consider these risks with their investment advisor before purchasing shares of theCompany.

All of the forward-looking information contained in this presentation is expressly qualified by the foregoing cautionary statements. Investors should read the entire Prospectus and consult their own professional advisors to ascertain andassess the income tax, legal, risk factors and other aspects of their investment in the shares.

NON-IFRS MEASURES AND INDUSTRY METRICS

This presentation makes reference to certain non-IFRS measures including “EBITDA”, and to certain operating metrics in the industry. Non-IFRS measures including industry metrics do not have a standardized meaning prescribed by IFRSand are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding ofour results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Please refer to the Prospectusfor further details on these non-IFRS measures including industry metrics, including relevant definitions and reconciliations.

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Summary Overview

CanniMed Therapeutics Inc. (“CMED” or the “Company”) is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry with 15 years’ of pharmaceutical cannabis cultivation experience, a state-of-the-art, GMP-compliantproduction process including 281 points of quality control, and a world class research and development platform, with a wide range of pharmaceutical-grade cannabis products.

CMED raised gross proceeds of $69 million in its IPO, including the over-allotment option which closed in January, 20171.

(1) January, 2017: 24.8 MM diluted shares outstanding

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Pharmaceutical Cannabis – The Opportunity is Significant

Legislative and political environments are becoming more favorable towards medical cannabis globally;Canada is a leader

Commonly prescribed opioids have increased risk of addiction, overdose and mortality

Increasing health care costs demonstrate a strong need for alternative methods for pain management

Rapidly aging population seeking pain relief to maintain an active lifestyle and manage end-of-life conditions

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Investor Highlights

Experienced LP with a 15 year history of growing medical cannabis

Pharmaceutical focus; GMP-compliant production process; investing in a clinical trial

Chronic pain costs more than $6 billion annually in Canada; issues with existing treatments create significant opportunity for cannabis products

Positioned to address significant market opportunity with baby boomers looking to maintain active lifestyles

EBITDA profile accelerating towards near term breakeven

Strong management and board with broad experience in cannabis, medical biotechnology, and pharmaceuticals

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100

1,000

10,000

100,000

1,000,000

10,000,000

2002 2005 2008 2011 2014 2017 2020 2023

Cana

dian

Med

ical

Can

nabi

s Use

rs

MMARMMPR/ACMPRTrendline - MMARTrendline - MMPR/ACMPR

Medical Cannabis is a Growth Market in Canada

Medical Marijuana Registered Patients(1) MMPR Total Volume Sales(2)

Q/Q growth in Registered Patients

(1) Source: Health Canada and management estimates. Lower trend line (purple) extrapolated by statistical software based on historical data. Upper trend line (blue) based on growth rate of lower trend line.

(2) Rolling 12 months. Shown as at the end of the reporting period. Includes wholesale sales.

31% 18% 61%Q/Q growth in Volumes Q/Q growth in Oil

Market growth is surpassing Heath Canada projections Cannabis oils have accelerated market growth

Projected

Health Canada Projection:

450,000

MMPR Introduction

Sept 2016: 98,460

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Physician Attitudes Shifting Towards Medical Cannabis

21%

52%

27%

(1) As reported by Legar Research Intelligence Group (2014 Survey) and Rogers Media (2016 Survey) through survey commissionedby CanniMed Pharmaceuticals. Both surveys utilized the same questionnaire for comparability purposes. (2) Percentage of doctors who have been approached by patients in the past 6 months

78%Doctors Approached(2)

Currently Prescribe

Interested in Prescribing

Will not Prescribe(under any circumstances)

2016(1)2014(1)

32%Properly Informed

12%

52%

36%

48%

31%

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Medical Cannabis

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Broad Potential Benefits; Early Focus on Chronic Pain

(1) Various third-party studies. (2) As reported by Legar Research Intelligence Group through report commissioned in Sept 2016 by CanniMed.

• Various third-party studies suggest that medical cannabis has shown, or has potential to show, efficacy in the treatment of a large number of medical conditions

Alzheimer’s Disease Slows formation of amyloid plaques by blocking enzymes in the brainAnxiety Reduces agitationArthritis Reduces inflammation and painBrain injuries Reduces inflammation / swellingCancer (chemotherapy) Aids in pain management and enhances appetite; also shown to reduce

growth of some cancer cellsChronic nausea Reduces nauseaChronic pain Binds to receptors on nerves to relieve painEating disorders Stimulates appetiteEpilepsy Controls seizuresFibromyalgia Reduces inflammation and painGlaucoma Decrease pressure inside the eyeHepatitis C Reduces treatment side effects such as nausea and muscle achesHIV/AIDS Stimulates appetiteMigraines Reduces painMultiple Sclerosis Binds to receptors in the nerves and muscles to relieve painMuscle spasms Reduces inflammation and painParkinson’s Reduces pain and tremors and improves sleepPTSD Reduces flashbacks, agitation and nightmares

Prescribed Uses(2)Medical Condition Observed Medical Impact(1)

5%

5%

12%

19%

29%

33%

69%

69%

79%

79%

MultipleSclerosis

Other

Post-TraumaticStress Disorder

HIV/AIDS Pain

Anorexia

Nausea

Pallative

Cancer-RelatedPain

NeuropathicPain

Chronic Pain

10

17.5

21.7

2010 2014

$193.2

$219.1

2010 2015

• Canadians spent $219 billion on health care in 2015(1)

– 78%(2) of emergency department visits are due to pain

• One in five Canadian adults suffer from chronic pain(3)

• Chronic pain costs more than $6 billion annually(3)

– More than cancer, heart disease and HIV combined

– Productivity losses estimated to increase costs to more than $37 billion(3)

• Inadequate pain assessment and treatment is a growing problem in Canada(4)

• Opioids are commonly prescribed for chronic pain despite little evidence of long term efficacy(5) and an elevated risk of addiction and overdose

– Canadian Federal Health Minister has called for a reduction of opioid prescriptions

Pain Market is Large; Current Treatments are Inadequate

Heath Care Spending(1)

(1) National Health Expenditure Database. Canadian Institute for Health Information. (2) Canadian Pain Society. (3) Direct costs. Pain Resource Centre, 2015: Pain in Canada Fact Sheet. (4) The Canadian Pain Society, 2011: Call to Action: The Need for a National Pain Strategy for Canada. (5) Globe and Mail, October 2014; (6) Pain Physician Journal.

Opioid Prescriptions(6)

Medical cannabis may be a safe and effective alternative

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• With an aging population, the incidence of chronic pain increases(2)

• Rate of opioid use as a pain reliever is highestamong seniors(3)

– 16% of seniors, as of 2013, use opioids(3)

• Baby boomers looking to manage pain and maintain an active lifestyle are a significant market opportunity for pharmaceutical-quality cannabis products

• New delivery mechanisms such as cannabis oils and gelcaps are ideally suited

– More traditional forms – Easier to target symptoms and doses – Avoid stigmas associated with smoking

Baby Boomers Are a Key Target MarketCanadian Population Demographics(1)

29%

(1) Statistics Canada. (2) Pain Resource Centre, 2015: Pain in Canada Fact Sheet. (3) In 2013; Canadian Centre on Substance Abuse, July 2015.

of the population

5,607,345

4,365,585

4,332,490

4,498,805

5,334,100

9,338,355

0 to 14 years

15 to 24 years

25 to 34 years

35 to 44 years

45 to 54 years

55 years and over

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• Cannabis remains a Schedule I drug in the U.S.– 28 states and D.C. no longer prosecute– Change to Schedule II required for

cannabis to be declared fit for medical use

• DEA to allow increased supply of medical cannabis for research purposes

• CanniMed is in the process of applying to the DEA for a license

– Production facility is expected to provide a “first mover” advantage in providing pharmaceutical-grade medical cannabis in the US

• Several discussions for international distribution of the Company’s products ongoing

– LOI with Creso Pharma

International Markets Offer Additional Opportunity

32%161 MM

29%89 MM

Population Aged 55Years and Older

(1) National Conference of State Legislators updated to reflect the results of the 2016 US election. States that are categorized as “Legal for Medical Use with Varying Limits on Use and Dosage” have different parameters for what patient conditions may be prescribed medical cannabis, as well as the form of cannabis and delivery method. US federal law outlaws all non-research related use of cannabis. (2) US Census Bureau; 2015. (3) European Union; Eurostat 2015. (4) Pew Research Centre

United States(2) European Union(3)

US State Cannabis Legislation(1)

~ 10,000 baby boomers will turn 65, every day, each year from 2011 to 2030(4)

Washington

Oregon

California

Montana

Wyoming

Colorado

New Mexico

Idaho

NevadaUtah

Arizona

North Dakota

South Dakota

Nebraska

Kansas

Oklahoma

Texas

Minnesota

Iowa

MIssouri

Arkansas

Louisiana Florida

MichiganWisconsin

Illinois

Tennessee

Missis-sippi Alabama

Georgia

South Carolina

North Carolina

Virginia

Kentucky

New York

Pennsylvania

OhioIndiana West

Virgina

RI

Maine

VTNH

MACT

DEMD

NJ

Alaska

Hawaii

Legalized for Medical Use

Illegal

Legalized for Medical Use with Varying Limits on Use and Dosage

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• Canadian-based plant biopharmaceutical company and a leader in the Canadian medical cannabis industry

– 15 years’ pharmaceutical cannabis cultivation experience– History as the sole supplier to Health Canada – World class, international research and development platforms

• Focused on the development and production of pharmaceutical-grade cannabis products– Good Manufacturing Practices(1) (“GMP”) compliant production with 281 points of quality control– First Health Canada approved Phase IIA clinical trial– Dosing, labeling and packaging similar to other pharmaceuticals

• A leader in the development of new delivery mechanisms with broader market appeal– Cannabis oil gelcap production targeted for late 2016 or early 2017

CanniMed Therapeutics – Pharmaceutical Focus

CMED is focused on becoming the supplier of choice in the medical community and with patients such as baby boomers who are looking for consistent, high quality treatment alternatives in forms that more closely align to traditional methods

(1) GMP are standards and procedures that pharmaceutical companies must adhere to in manufacturing their products in North America; part of quality assurance that ensures that drugs are consistently produced and controlled to meet quality standards

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• The Company expects to continue to invest significant resources towards clinical trials focussed on validating medical cannabis as a safe and effective pain relief option

• $1 million invested in Health Canada-approved “CAPRI Trial”(1)

– First Phase II Health Canada approved clinical trial

– Randomized, double-blind, placebo controlled, proof-of-concept Phase IIA clinical trial

– Seeks to examine the varying ratios of THC and CBD to help determine whether high THC, high CBD, or a combination of the two, has the greatest impact on the treatment of osteoarthritis of the knee

• Answering important questions that physicians and other health care professionals have regarding dosing, as well as short term safety and efficacy relating to specific ratios of cannabinoids

Investing in Clinical Trials

(1) Cannabinoid Profile Investigation of Vaporized Cannabis in Patients with Osteoarthritis of the Knee

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State-of-the-Art, GMP-Compliant Production Facilities

INSERT Saskatoon GRAPHIC

Saskatoon, Saskatchewan• 97,000 sq. ft. above-ground production facility • 30 large individual biosecure growth chambers• 7,000 kg of dried herbal capacity per annum• State-of-the-art, GMP-compliant production process

– 281 points of quality control• Five separate Level 7 security compliant vaults• “Seventh Generation” facility(1)

White Pine, Michigan• 19,000 sq. ft of underground growth

chambers currently under construction• Supports BioProducts and BioPharm

divisions • Additional 35 square mile underground

footprint – Potential to support more

than 50,000 kg of herbal capacity per annum

GMPStandards

International Organization for Standardization

(ISO)

Good Production Practices (GPP)

Required under

ACMPR

Required for pharmaceutical

production

(1) Benefited from the technologies and innovations advanced over the course of seven distinct facility builds.(2) Management estimates that, subject to the currently available power supply, of the approximately 35 square miles of underground

footprint available, approximately 600,000 to 800,000 square feet could feasibly be developed by it for production purposes.

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CanniMed Product Offering - Herbal

• Pharmaceutical quality and branding promotes doctor confidence and supports more effective prescription dosages

– Identified by the percentage of THC and CBD they contain– Each product is designed with specific benefits in mind to address each patient’s requirements

Colour and Name THC CBD

Purple 1·13 0.7% 13.0%

Red 4·10 4.0% 10.0%

Orange 9·9 9.0% 9.5%

Yellow 12·0 12.5% <0.5%

Green 15·5 15.0% 5.0%

Blue 17·1 17.0% 0.7%

Indigo 22·1 22.0% 0.7%

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• Cannabis oils are the preferred product for patients reluctant to smoke herbal product– Ideal for palliative care and hospitalized patients– Significant sales acceleration since launching oils in January

• Gelcaps are ideally suited for baby boomers looking for a safe, reliable way to manage their chronic pain symptoms and maintain an active lifestyle

CanniMed Product Offering - Oils

Colour and Name THC (mg/ml) CBD (mg/ml) Total THC (mg) Total CBD (mg)Purple 1·20 1.0 20.0 60 1,200

Orange 10·10 9.8 9.9 588 594

Blue 18·0 18.3 0.2 1,098 12

Cannabis Oil Gelcaps

Higher margin, value-added products with broader market appeal

Production trial start early 2017

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10,224

17,000

Apr-16 Present

-

361.0

Q3 15 Q3 16

149.0

255.2

Q3 15 Q3 16

Growing Momentum

Patients Physicians

Total Dried Equivalents (KG)(1) Oil Volume (L)

2,385

3,161

Apr-16 Present

(1) Includes both dried herbal and oils

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Strong Management Team and Board

Brent H. Zettl, B.S.A., President & CEO, Co-founder• President of CanniMed since 1991• Spearheaded the development activities of the innovative underground

growth chambers• 2014 E&Y Entrepreneur of the Year for the Prairies Business-to-Consumer

category

John Knowles, CFO• Over 30 years experience in senior executive and board roles in Canada

and internationally• A Director of CanniMed for over eight years and past Chair of the Audit

and Finance Board Committee• Former VP, CFO of Hudbay Minerals Inc., Executive VP of Aur Resources

Inc., and CEO of LiCo Energy Metals Inc.

Larry Holbrook, Ph.D., Chief Research Officer• Background includes Senior Research Scientist positions with extensive

and diverse agricultural biotechnology experience in both government andindustrial settings

• Over 20 years of experience in basic research and applications to geneticmodification of crop plants

• Author or co-author on 40 publications and books

Gulwant Bajwa, VP, Business Development and Regulatory Affairs• Previously with Health Canada as a Senior Program Manager in former

Bureau of Medical Cannabis and as a Policy Analyst in the IntellectualProperty and Technology Transfer office of Health Canada

• Five years as Director of Operations at JDS Uniphase Corporation

Donald Ching, LL.B, B.A. (Chairman)• Director, Golden Opportunities Fund; Former President and CEO of SaskTel

Doug Banzet• CFO and Director, Golden Opportunities Fund

Rob Duguid, B.B.A.• Partner, PFM Capital; VP, Prairie Ventures Fund

Marianne Greer, Ph.D.• Independent Pharmacist Consultant

Richard Hoyt, B.Sc.• VP, Business Development, Mallinckrodt PLC

Dwayne L. Lashyn, B.Comm, C.A.• VP, Quantico Capital Corp.

Bruce F. Mackler, Ph.D., J.D. • Consultant in FDA, USDA and EPA Regulatory Processes

Brandon J. Price, Ph.D.• Executive VP, Nascent Biotech; Co-founder, Biogenin

John L. Knowles, B.Comm, C.A.• CFO, CanniMed Therapeutics Inc.

Brent Zettl• President & CEO, CanniMed Therapeutics Inc.

Key Management Board of Directors

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