Third Quarter 2017

Leader in Canadian Medical Cannabisand International First Mover

DISCLAIMER

GENERAL

This documentation is a presentation of general background information about the activities of CanniMed Therapeutics Inc. (the “Company”, “CMED”, “us” or “we”). The information contained in this presentation is derived solely from otherwisepublicly available information concerning CMED and does not purport to be all-inclusive or to contain all the information that an investor may desire to have in evaluating whether or not to make an investment in CMED.

This presentation does not constitute or form part of any offer or invitation for the sale or purchase of securities or any of the assets, business or undertaking described herein nor shall it or any part of it form the basis of or be relied on inconnection with, or act as any inducement to enter into, any contract or commitment whatsoever. Recipients of this presentation who are considering acquiring securities of CMED are reminded that any such purchase or subscription must not bemade on the basis of the information contained in this presentation but are referred to the continuous disclosure documents of CMED filed on SEDAR at www.sedar.com. The contents of this presentation are not to be construed as legal, financial ortax advice. Each prospective investor should contact his, her or its own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice.

No representation or warranty, express or implied, is made or given by or on behalf of CMED or any of its affiliates or subsidiary undertakings or any of the directors, officers or employees of any such entities as to the accuracy, completeness orfairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. In furnishing this presentation, CMED does not undertake or agree to any obligation toprovide the attendees with access to any additional information or to update this presentation or to correct any inaccuracies in, or omissions from, this presentation that may become apparent. No person has been authorised to give anyinformation or make any representations other than those contained in this presentation and, if given and/or made, such information or representations must not be relied upon as having been so authorised. The information and opinions containedin this presentation are provided as at the date of this presentation.

In this presentation, all amounts are in Canadian dollars, unless otherwise indicated. Any graphs, tables or other information in this presentation demonstrating the historical performance of CMED or any other entity contained in this presentationare intended only to illustrate past performance of such entities and are not necessarily indicative of future performance of CMED or such entities.

This presentation is being supplied to you solely for your information and may not be reproduced, further distributed or published in whole or in part by any other person. Distribution of this presentation may be restricted or prohibited by law.Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions and CMED does not accept liability to any person in relation thereto.

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 include informationregarding 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, prospects or opportunities or the markets in which we operates is forward-looking information. In some 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”, “willbe 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’s expectations, 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 conditions and expectedfuture 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 be no assurance that theunderlying opinions, estimates and assumptions will prove to be correct.

Although we have attempted 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 orthat we 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 such information willprove 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, which speaks only as of the datemade. 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 intentionor 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 laws in Canada. All of the forward-lookinginformation contained in this presentation is expressly qualified by the foregoing cautionary statements.

NON-IFRS MEASURES AND INDUSTRY METRICS

This presentation makes reference to certain non-IFRS measures including “EBITDA” and “Adjusted EBITDA”, and to certain operating metrics in the industry. Non-IFRS measures including industry metrics do not have a standardized meaningprescribed by IFRS and 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 furtherunderstanding of our 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 theProspectus and the Company’s most recently filed MD&A, available on www.sedar.com, for further details on these non-IFRS measures including industry metrics, including relevant definitions and reconciliations.

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SUMMARY OVERVIEW

CanniMed Therapeutics Inc.

An international, biopharmaceutical company and a leader in the Canadian cannabis industry with best-in-class pharmaceutical-grade cannabis products and a first mover advantage in rapidly developing international markets

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Experienced LP with a 15 year history of growing medical cannabisINVESTOR HIGHLIGHTS

Pharmaceutical-Grade;GMP-compliant; investing in clinical trials

The Canadian medical market is

here and now with growing acceptance; increasing evidence of effectiveness; Baby Boomers are a significant market opportunity

First mover advantage

and best positioned to address the massive international market opportunity

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

Significant Revenue, EBITDA and Volume

Growth

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Recent Developments

Strong Q3 2017 results

KG SOLD

(+79% 9mo/9mo)

ADJUSTED EBITDA

(+$1.2MM 9mo/9mo)

REVENUE

(+80% Q3/Q3)

Entered into Canada’s first exclusive pharmacy distribution agreement for medical cannabis

Commenced Cannabis Oils Facility expansion with support of the Saskatchewan provincial government

Agreement with CTT Pharmaceutical Holdings Inc. (“CTT”) to License its Orally Dissolvable Thin Film Wafer

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Completed first oils exports to Australia and Cayman Islands

Current Growth Focus

NEW DISTRIBUTION CHANNELS

Pharmacy initiatives

ADDING CAPACITYOils facility, enclosed plant growing expansion, greenhouse conversions to cannabis production

PURSUING EXPORTS Multiple countries

CanniMed provides pharmacist education, obtains exclusive or preferred distribution

Cannabis Oils Facility Expansion - civil works commenced September, process engineering under way

Sub-lingual wafers – application to Health Canada

Topical cream in development

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Inbound approaches from countries in North America, Europe, Africa and Australasia

NEW DOSAGE FORMS

New enclosed production building to add 6,000 kg annual capacity – design stage, completion 2019

Greenhouse conversions to add 4,000 to 8,000 kg annual capacity – completion 2018

Pharmaceutical Cannabis

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THE OPPORTUNITY IS SIGNIFICANT

Increased risk of addiction, overdose and mortality

A strong need for alternative methods for pain management

Seeking pain relief and maintaining an active lifestyle and manage end-of-life conditions

Legislative, political environments are more favorable towards medical cannabis globally

Commonly prescribed opioids

Increasing healthcare costs

Rapidly aging population

Canada is a leader

To Provide a Step-Change in Demand

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(1) Pain Resource Centre, 2015: Pain in Canada Fact Sheet (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

$2

$193

2015

2010

21.72015

2010

1 in 5 Canadian adults suffer from chronic pain(2)

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

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

Opioids are prescribed for chronic pain despite little evidence of long term efficacy(5)

With an aging population, the incidence of chronic pain increases(1)

29%of the Canadian population

16% of seniors use opioids(3)

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

• More traditional forms

• Easier to target symptoms/doses

• Avoid stigmas associated with smoking

Baby Boomers

Opportunities are Exploding

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International markets are opening quickly for pharma-quality products9

Cayman IslandsFirst ever sale of commercial cannabis oils

AustraliaFirst ever shipment of commercial cannabis oil; follow-up orders for additional oil products

United StatesGMP compliant production facility with potential to support over 50,000 kg of capacity per annum• In process of applying to

the DEA for a licence to supply for research purposes

European UnionLOI with Creso Pharma Ltd. to market CMED medical cannabis brands

International Markets

Worldwide population of baby

boomers is over 1.1 billion

Worldwide baby boomer population is over 1.1 billion

Europe~ 121 million baby boomers

U.S.~ 74 millionbaby boomers

Australia~ 5 millionbaby boomers

Product differentiationwill be key…………………………………….

CMED best-in-class oilsProvide significant opportunity– particularly in consumables

High margin

…………………………………….

New delivery mechanisms provide opportunities for IP

…………………………….………

Pharmacy distribution will be a game changer

……………………………………..

Only pathwayto international markets

✓ GMP Compliant

✓ Extensive quality control

✓ Precision growing and extraction

✓ No pesticides

CanniMed is focused on producing high-quality products that are best positioned in any market

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(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

Medical

Recreational

Well Positioned for the near and long term

CanniMed Therapeutics

HerbalCANNIMED PRODUCT OFFERING

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

Purple 1·13

0.7% THC

13.0% CBD

Red 4·10

4.0% THC

10.0% CBD

Orange 9·9

9.0% THC

9.5% CBD

Yellow 12·0

12.5% THC

<0.5% CBD

Green 15·5

15.0% THC

5.0% CBD

Blue 17·1

17.0% THC

0.7% CBD

Indigo 22·1

22.0% THC

0.7% CBD

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OilsCANNIMED PRODUCT OFFERING

For patients reluctant to smoke herbal product

• Ideal for palliative care and hospitalized patients

• Significant sales acceleration since launching oils in January

For baby boomers looking for a safe, reliable way to manage their chronic pain symptoms and maintain an active lifestyle

CANNABIS OILS CAPSULES PRODUCTION RAMP H2 2017

Higher margin, value-added products with

global market appeal

Purple 1·20

0.720.060

THC mg/mlCBD mg/mlTHC mg

TOTAL CBD mg1,200

Orange 10·10

9.8 9.9588

TOTAL CBD mg594

THC mg/mlCBD mg/mlTHC mg

Blue 18·0

18.3 0.21,098

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THC mg/mlCBD mg/mlTHC mg

TOTAL CBD mg

12

Saskatoon, Saskatchewan

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GMP-COMPLIANT PRODUCTION FACILITIES

(1) Benefited from technologies and innovations developed over the course of seven distinct facility builds.

Good Production Practices (GPP)

Required under ACMPR

International Organization for Standardization (ISO)

GMP Standards

Only LP deemed by Health Canada to be compliant

Required for pharmaceutical production

GMP

Above ground facility on 100 acres, currently using approximately 20 acres

30 X 1,000 plant bio-secure growth chambers

7,000 kg current enclosed capacity;

State-of-the-art, GMP-compliant

5 separate Level 7 security

compliant vaults

“Seventh Generation” facility(1)

production process

MOST RIGOROUS

RIGOROUS

LEAST RIGOROUS

and 6,000 kg new enclosed capacity in 2018-19

Adding 4-8,000 kg greenhouse conversion 2018

• “CAPRI Trial”(1)

- First Phase II Health Canada approved clinical trial using cannabis ($1 million invested)- Randomized, double-blind, placebo controlled, proof-of-concept Phase IIA clinical trial- Seeks to examine the varying ratios of THC and CBD in patients with osteoarthritis of the knee

• “Identifying the molecular mechanisms involved in suppressing multiple sclerosis induced neuropathic pain following cannabinoid treatment in an animal model of multiple sclerosis”

• Pre-clinical study partnering with Dr. Michael Namaka at the University of Manitoba.

• “CARE-E Trial” in patients with refractory pediatric epilepsy, partnered with Dr. Richard Huntsman at the University of Saskatchewan.

• “PICATE Trial” in patients with Tourette’s syndrome, partnered with Dr. Paul Sandor at Toronto Western Hospital.

Investing in Clinical Trials

(1) Cannabinoid Profile Investigation of Vaporized Cannabis in Patients with Osteoarthritis of the Knee14

18,512

658

109

1,177

416

Growing Momentum

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REVENUE AND GROWTH

(1) Includes both dried herbal and oils

Total Dried Equivalents (KG)(1)

Oil Equivalent(KG)

Q3 % of Revenue

36% 57%

9 mo 2016 9 mo 2017

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July 2016

Active Patients Physicians

7,631

4,222

2,863

July 2017

Historical Financials

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REVENUE AND GROWTH

(1) LTM financial results include 9 months ended July 31, 2017;

Launching oils in 2016 has accelerated growth and expanded opportunities for new customers

Introduction of pharmaceutical-grade capsules anticipated to accelerate growth in Canada and internationally

Adj. EBITDA 2017

$(0.1M), 9 mo 2017

Aggressively expanding infrastructure to meet accelerating market demand

Revenue ($M)(1) Gross Margins ($M)(1)

201598% Margin

201684% Margin

LTM63% Margin

2016 Q3 2017 Q3

$5.8 $5.7

$9.8$8.2

$15.0

$9.5

$2.7

$2.1

$4.8

$2.6

Experiencing Rapid Sales

Growth

40% of total kg sold, 9 mo 2017

Cannabis Oils

CapitalizationREVENUE AND GROWTH

OCTOBER 31, 2016FISCAL YEAR-END ($M)

JULY 31, 2017END Q3 ($M)

CASH 2.0 54.2

TOTAL CURRENT ASSETS 14.7 67.1

CURRENT LIABILITIES 7.8 5.5

DEBT 36.3 14.0

SHAREHOLDERS EQUITY 10.6 90.8

CURRENT MARKET CAPITALIZATION (Sept 12/17)

$208.9

CURRENT ENTERPRISE VALUE $168.7

17(1) As of close of September 12, 2017; 22,958,261 shares outstanding.

Strong Management Team and Board

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KEY MANAGEMENT

President & CEO

Brent H. Zettl

• 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

CFO

John Knowles

• 30 years executive and boards, Canada and overseas

• Director of CanniMed for over eight years and past Chair of the Board’s Audit and Finance Committee

• Former VP, CFO of Hudbay Minerals Inc., Executive VP of Aur Resources Inc., and CEO of LiCo Energy Metals Inc.

VP, Marketing and Sales

Larry Holbrook

• Background includes Senior Research Scientist positions with extensive and diverse agricultural biotechnology experience in both government and industrial settings

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

• Author or co-author on 40 publications and books

VP, Regulatory Affairs and Information Technology

Gulwant Bajwa

• Previously with Health Canada as a Senior Program Manager in former Bureau of Medical Cannabis and as a Policy Analyst in the Intellectual Property and Technology Transfer office of Health Canada

• Five years as Director of Operations at JDS Uniphase Corporation

Howard Harkness

• Background includes Senior Research Scientist positions with extensive and diverse agricultural biotechnology experience in both government and industrial settings

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

Chief Science Officer

• Broad experience in investment, financial management, and business valuations

• Former CFO of Mosaic Capital Corp. with investments across multiple industries

• Former VP Investments in energy-focused private equity.

Allan FowlerVP, Business Development and Investor Relations

Strong Management Team and Board

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BOARD OF DIRECTORS

LL.B, B.A. (Chairman)

Donald Ching

Director, Golden Opportunities Fund; Former President and CEO of SaskTel

Doug Banzet

CFO and Director, Golden Opportunities Fund

B.B.A.

Rob Duguid

Partner, PFM Capital; VP, Prairie Ventures Fund

Ph.D.

Marianne Greer

Independent Pharmacist Consultant

B.Sc.

Richard Hoyt

VP, Business Development, Mallinckrodt PLC

B.Comm, C.P.A., C.A.

Dwayne L. Lashyn

VP, Quantico Capital Corp.

Ph.D., J.D.

Bruce F. Mackler

Consultant in FDA, USDA and EPA Regulatory Processes

Ph.D.

Brandon J. Price

Executive VP, Nascent Biotech; Co-founder, Biogenin

B.Comm, C.P.A., C.A.

John L. Knowles

CFO and Director, CanniMed Therapeutics Inc.

Brent Zettl

President, CEO and Director, CanniMed Therapeutics Inc.

B.S.AB.B.A.