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Investor Presentation March 31, 2025
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CAUTIONARY STATEMENT This document is current as of March 31, 2025, except where otherwise stated. The information contained in this presentation is provided by Organigram Global Inc. (“Organigram” or the “Company”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Organigram or other financial products. No part of this presentation shall form the basis or be relied upon in connection with any contract, commitment or investment decisions in relation thereto. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. No securities commission or similar regulatory authority in Canada or the United States has reviewed this presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. This presentation is not meant to provide a complete or comprehensive analysis of Organigram’s financial or business prospects. To the maximum extent permitted by law, none of Organigram nor its directors, officers, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. This presentation contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, including but not limited to the expectations regarding the integration and synergy realization of Motif (as defined herein). Forward- looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this presentation, including risk of failure to close any transactions within the timeline expected, or at all, for any reasons. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR+ (see www.sedarplus.ca) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this presentation is made as of the date of this presentation and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The descriptions of the terms of the agreements referenced in this presentation are qualified by the terms of the agreements themselves, copies of which shall be filed under Organigram’s profile on SEDAR+ (see www.sedarplus.ca) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). The financial information in this document contains certain financial performance measures that are not defined by and do not have any standardized meaning under IFRS and are used by management to assess the financial and operational performance of the Company. These include adjusted EBITDA and adjusted gross margin (adjusted gross margin %). The Company believes that these non-IFRS financial measures, in addition to conventional measures prepared in accordance with IFRS, enable investors to evaluate the Company’s operating results, underlying performance and prospects in a similar manner to the Company’s management. As there are no standardized methods of calculating these non-IFRS measures, the Company’s approach may differ from those used by other issuers, and accordingly, the use of these measures may not be directly comparable. The most directly comparable measure to adjusted EBITDA calculated in accordance with IFRS is net income (loss). The most directly comparable measure to adjusted gross margin calculated in accordance with IFRS is gross margin before fair value adjustments. Accordingly, these non-IFRS measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For further information regarding these non-IFRS measures, including definitions, and a quantitative reconciliation to the most directly comparable IFRS measure, see the information under the heading "Cautionary Statement Regarding Certain Non-IFRS Measures" and the reconciliation to IFRS measures under the heading "Financial Results and Review of Operations" in the Company's management discussion and analysis of financial conditions and results of operations for the three months ended March 31, 2025 (the "Q2 Fiscal 2025 MD&A") incorporated by reference in this presentation and filed under Organigram's profile of SEDAR+ (see www.sedarplus.ca) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov).This presentation does not constitute an offer of shares for sale in the United States or to any person that is, or is acting for the account or benefit of, any U.S. person as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”), or in any other jurisdiction in which such an offer would be illegal. Organigram’s shares have not been and will not be registered under the Securities Act. We seek safe harbour. This document may not be reproduced, further distributed or published in whole or in part by any other person. This document may only be disseminated or transmitted into any jurisdiction in compliance with, and subject to, applicable securities laws. Readers are required to ensure their compliance with applicable securities laws. This investor presentation contains information concerning our industry and the markets in which we operate, including our market position and market share, which is based on information from independent third-party sources. Although we believe these sources to be generally reliable, market and industry data is inherently imprecise, subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties inherent in any statistical survey or data collection process. We have not independently verified any third-party information contained herein. All dollar values are in Canadian dollars unless otherwise indicated. Figures in this presentation are approximate due to rounding.
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Vision 2035
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Canadian Roots.Naturally Global. 12 YEARS OF RESPONSIBLE LEADERSHIP WORLD CLASS CAPABILITIES RAPID INTERNATIONAL EXPANSION GLOBAL STRATEGIC INVESTOR Founded in 2013, Organigram transitioned from a leading medical cannabis company to the #1 recreational LP in Canada today1 Organigram operates five world class cultivation, production, manufacturing, and logistics facilities across Canada. Organigram has achieved strong year-over-year growth in international shipments over the last 5 quarters and is poised to continue the trend Organigram has received over $345 million from BAT to fund research & development and international M&A Organigram is a leader in creating innovative, differentiated products, and honing its production practices INNOVATION TRAILBLAZER 1. Multiple Sources ( Hifyre, Weedcrawler , provincial boards, internal modelling) as of March 31, 2025
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1. Multiple Sources ( Hifyre, Weedcrawler , provincial boards, internal modelling) as of March 31, 2025 Canada’s#1 LP in market share1 RECREATIONAL MARKET MILLED FLOWER #1 HASH #1 GUMMIES #3 FLOWER (including milled) #3 PRE-ROLLS (including IPRs) #1 VAPES #1
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Coast to Coast Leadership Multiple Sources ( Hifyre, Weedcrawler , provincial boards, internal modelling) as of March 31, 2025 EASTERN CANADA#1 CENTRAL CANADA#1 WESTERN CANADA#1 Winnipeg Facility London & Aylmer Facilities (Motif) Lac-Supérieur Facility Moncton Facility
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I N V E S T O R S E S S I O N • 2 0 2 5 Current Global Distribution
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State-of-the-art Facilities Moncton, NB • Three-tiered, modular, strain -specific grow rooms provide the ability to control critical environmental requirements by strain • In-house extraction, cannabinoid testing, and remediation • Expecting EU-GMP certification in the coming months Lac-Supérieur, QC • Producing hang -dried, hand- trimmed, artisanal cannabis • Producing multiple hash products, including the patent - pending Rip-Strip Hash Winnipeg, MB Edibles facility with automated cutting-edge equipment with monthly capacity of up to 4 million gummies Aylmer, ON Advanced capabilities & centralized manufacturing: • Hydrocarbon & CO2 extraction • Refining, formulation, post-processing of minor cannabinoids • Infused and regular pre -rolls London, ON Centralized distribution hub to support growing demand and to optimize fulfillment Canada’s largest indoor cultivation Recently-acquired Motif operations are located across two facilities in Aylmer and London, Ontario
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FLOWER MILLED PRE-ROLLS INFUSED PRE -ROLLS VAPES EDIBLES HASH CONCENTRATES OILS VALUE BEVERAGES PREMIUM MAINSTREAM Portfolio of Beloved Brands Delivering strong coverage across all segments and categories
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• $224 million annual retail sales1 • Award-winning mainstream brand with broad category coverage • Stickiest brand in Canada based on repurchase rates2 • $150 million annual retail sales1 • #1 Canadian vape brand1 • Portfolio includes IPRs, and other 2.0 products • Premium innovation brand • First Organigram brand to launch proprietary FASTTM products which increase onset by 50% and peak effect by 2x 1. Multiple S ources (Hifyre, Weed cr awler, provin cial board s, internal modelling) as of March 31, 2025 2. Source: Hifyre IQ Loyalty Program (Spark Members) – Mar ch 2025
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Cost Synergies on Track — and Exceeding Expectations Consolidation of logistics and warehousing through the acquisition of the London facility – a central Canada hub for key markets Shared procurement and supplier relationships Optimization of manufacturing and distribution operations Owning more of our supply chain by in-housing hydrocarbon extraction and becoming one of the top THCa producers in the country, a key ingredient in infused pre rolls Key Financial Benefits • Approximately $15 million expected in run- rate cost synergies • Adds $87 million in sales based on trailing 12-month revenue • Highly complementary innovation pipelines Acquisition Stronger market position Revenue Expansion Drives Margin Improvement Economies of scale Fixed cost absorption Completed December 2024
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Collective Project Acquisition Deal Rationale Fast tracks Organigram’s entry into the beverages category Leverages the strength of the Collective Arts brand in the U.S. Organigram will be able to leverage the relationships and infrastructure that Collective Arts has built in the U.S. Organigram immediately gains a footprint in the U.S, with current distribution in 10 states Entering DTC distribution channels in the U.S. Organigram can start consolidating U.S. revenue. Highly complementary product portfolio Ability to leverage Canadian sales team to deliver distribution gains across Canada Completed March 2025
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• Established thePDC with formation of a Center of Excellence ("CoE") at Moncton campus • Focused on developing the next generation of cannabis products, IP and technologies Over $345 Million Invested Strategic Investments from BAT: 2021 $221 Million • Creation of strategic investment pool named Jupiter, funded with $83.1 million • $41.5 million proceeds for general corporate purposes • Final $41.5 million tranche closed in February 2025 $125 Million 2024
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The $83.1 million Jupiter investment pool targets investments in emerging cannabis opportunities • All potential investments are made in alignment with Organigram’s strategic vision for the future, focusing on long-term sustainable growth and global cannabis leadership • T argeting investments that will enable Organigram to apply its industry-leading capabilities to new markets • Jupiter has deployed capital into two strategic investments:U.S.$2 million in Steady State LLC (d/b/a Open Book Extracts)("OBX"), and an approximate $21 million interest in Sanity Group GmbH ("Sanity Group") • The Jupiter pool has $58 million cash remaining for deployment Priority Investment Pillars Sectors • U.S. regulated market and hemp-derived market Geographies • U.S. • Emerging global markets Categories & Tech • Non-combustible inhalation • Edibles • Beverages Value Chain Segments • Brands • Commercial Capabilities • Technology Investment Pool Organigram will only invest in jurisdiction s where it’s legally permissible and will be subject to strict due diligence
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• $21 million investment into German cannabis leader Sanity Group to establish foothold in rapidly growing German market and expand export volume to Europe. • Expansion of Organigram’s previously announced supply agreement with Sanity Group • Opportunity to launch branded products in European market GERMANY AND EUROPE Investment in Germany and Europe
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SEED-BASED TECHNOLOGY • Up to U.S.$8 million investment (U.S.$7 million invested to-date) into U.S.-based Phylos Bioscience to access flower- derived minor cannabinoids such as THCV and initiate the conversion of a portion of Organigram’s garden to more cost-effective seed-based production. • Moving toward catalogue of F1 stabilized seeds with consistent targeted traits I N V E S T O R S S E S S I O N • 2 0 2 5 Investment in Seed Technology
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Seed vs. Clone Cultivation CLONE SEEDLING One-week-old Three-weeks-old CLONE SEEDLING
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Seeds: More Robust and Uniform Uniformity and Robustness of Seed Grow Clones Seeds
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NON-COMBUSTIBLE FORMATS • $5.5 million investment into Green Tank Technologies Corp., a vape R&D firm and hardware manufacturer • New hardware provides more consistent flavour, reduces clogging and produces smaller particle size which may increase potency • 18-month exclusivity period from date of commercial launch MANUFACTURING & FORMULATION • U.S.$2 million investment into U.S.-based OBX • A leading hemp-derived cannabinoid producer • Provides further footprint in the U.S.
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• Strong international sales trajectory • EU-GMP expected to boost sales and margins • Diversified client list • Introduction of sales from Collective Project Limited ("Collective Project") Increasing International Sales $1.0 $2.2 $2.4 $4.1 $3.3 $6.1 Q1 F24 Q2 F24 Q3 F24 Q4 F24 Q1 F25 Q2 F25 (millions)
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Q2 F'2025 Highlights • Record Gross Revenue of $102.8 million (+79% year-over-year) • Record Net Revenue of $65.6 million (+74% year- over-year) • Adjusted EBITDA1 of $4.9 million • Net Income of $42.5 million • Motif integration now expected to exceed original estimate of $10 million to provide approximately $15 million in annual cost synergies. • Total cash position (including restricted cash & short-term investments) of approximately $83.4 million and negligible debt • Maintained #1 market position in Canada — #1 in vapes, #1 in pre-rolls, #1 in milled flower, #1 in hash, #1 in pure CBD gummies, #3 in edibles, #3 in dried flower • Acquired Collective Project, marking entry into the fast-growing U.S. and Canadian beverage categories, with current distribution in 10 states and six provinces • Closed final $41.5 million tranche of $124.6 million follow on investment from BAT Revenue and Margins (millions) Adjusted EBITDA1 (millions) $32.8 $36.7 $36.5 $37.6 $41.1 $44.7 $42.7 $65.6 $48.4 $56.2 $56.3 $57.4 $63.6 $69.9 $66.8 102.8 $6.1 $7.2 $11.2 $11.6 $14.6 $16.5 $14.3 21.9 19% 20% 31% 31% 36% 37% 33% 33% Q3 F23 Q4 F23 Q1 F24 Q2 F24 Q3 F24 Q4 F24 Q1 F25 Q2 F25 Net Revenue Gross Revenue Adj. Gross Margin Adj. Gross Margin % 2 3 1. Adjusted EBITD A is a non-IFRS Financial Measure not defined by and does not have any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to t he cautionary statement at the beginning of this document and the Company’sQ1 Fiscal 2025 MD&A f or definitions and a reconciliation t o IFRS. 2. Q4 F2023 is presented as the unaudited and unreviewed three-month period from July 1, 2023-September 30, 2023 as a result of the change in year end f rom August 31 to September 30 approved by the Company in May 2023. 3. Adjusted gross margin is a non-IFRS financial measure not defined by and does not have any standardized meaning under IFRS; please refer to “N on-IFRS Financial Measures” in the cautionary stat ement at the beginning of this document and t he C ompany's Q1 Fiscal 2025 MD &A for definitions and reconciliat ion to IFRS. -$2.9 $0.1 $0.1 -$1.0 $3.5 $5.9 $1.4 $4.9 Q3 F23 Q4 F23 Q1 F24 Q2 F24 Q3 F24 Q4 F24 Q1 F25 Q2 F25 2 3 2
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Balance Sheet Strength 83.4 million AS OF END OF Q2 Fiscal 2025: Total cash (including restricted cash & short-term investments) $58 million reserved for the Jupiter pool No material debt
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Investor Session PRESENTED: MARCH 24, 2025 Q2 FY25 Select Financial Metrics KEY FINANCIAL METRICS Q2’25 Q2’24 % Change Gross revenue 102,763 57,425 79% Excise taxes (37,163) (19,797) 88% Net revenue 65,600 37,628 74% Cost of sales 45,813 26,366 74% Gross margin 18,418 9,600 92% Adjusted gross margin1 21,921 11,609 89% Adjusted gross margin %1 33% 31% 2% Selling (including marketing), general & administrative expenses 22,490 20,332 11% Adjusted EBITDA1 4,908 (1,045) nm Net income (loss) 42,350 (27,075) nm Net cash provided by (used in) operating activities before working capital changes (1,607) (8,277) (80)% Net cash provided by (used in) operating activities after working capital changes (16,585) (13,217) 25% In $000s unless otherwise indicated 1. Adjusted gross margin, adjusted gross margin % and adjusted EBITDA are non -IFRS financial measures not defined by and do not hav e any standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers; please refer to the cautionary statement at the beginning of this document and the Company’s Q2 Fiscal 2025 MD&A for definitions and a reconciliation to IFR S.
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Q2 FY25 Select Balance Sheet Metrics In $000s unless otherwise indicated SELECT BALANCE SHEET METRICS Q2’25 Q4’24 % Change Cash & Restricted Cash 82,500 132,605 (38)% Short term investments 873 821 6% Biological assets & inventories 115,049 82,524 39% Prepaid expenses & deposits 10,093 9,116 11% Investments 47 ,571 40,727 17% Accounts & other receivables 49,987 37, 153 35% Accounts payable & accrued liabilities 63,001 47 ,097 34% Working capital 182,879 208,897 (12)% Property, plant & equipment 119,944 96,231 25% Long-term debt - 25 (100)% Total assets 537,903 407,860 32% Total liabilities 147,337 101,871 45% Shareholders’ equity 390,566 305,989 28%
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Capital Structure In $000s unless otherwise indicated CAPITAL STRUCTURE 03-31-2025 05-07-2025 Common shares issued and outstanding 133,836 133,884 Preferred shares1 13,794 13,794 Options 2,622 2,595 Warrants 4,451 4,451 Top-up rights 17,534 17,499 Restricted share units 3,505 3,443 Performance share units 1,705 1,680 Total fully diluted shares 177,446 177,346 1. The preferred shares are eligible, under certain scenarios, to be converted into common shares equaling 14,198,539 consistin g of the original preferred shares of 13,794,163 that convert into one common share and accretion amounts that accrue to the preferred shares at an annual rate of 7.5% per annum. Since the preferred shares were issu ed under the second and third tranches of the Jupiter private placement, they have collectively acc rued 404,376 of additional common share conversion value.