Corporate PresentationJanuary 3, 2019

Nasdaq: DMAC

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This presentation contains forward-looking statements, which reflect the Company's current expectation

regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual

results, events, or developments to be materially different from any future results, events, or developments

expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing

market conditions, the successful and timely completion of clinical studies, the establishment of corporate

alliances, the impact of competitive products and pricing, new product development, uncertainties related to

the regulatory approval process or the ability to obtain drug product in sufficient quantity or at standards

acceptable to health regulatory authorities to complete clinical trial or to meet commercial demand and other

risks detailed from time to time in the Company's ongoing quarterly and annual reporting. Certain of the

assumptions made in preparing forward-looking statements include but are not limited to the following: that

DM199 and other programs will generate positive efficacy and safety data in current and future clinical trials;

and that DiaMedica will complete preclinical and clinical trials within the timelines communicated. Except as

required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-

looking statements, whether as a result of existing or new information, future events, or otherwise.

FORWARD LOOKING STATEMENT

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TARGETING STROKE AND KIDNEY DISEASES

KLK1 is a protein naturally produced in the human body

1st SYNTHETIC FORM OF KLK1 PROTEIN

CONTRIBUTING TO IMPROVED BLOOD FLOW

Therapeutic Focus: Acute Ischemic Stroke, Chronic Kidney Disease, Vascular Dementia

KLK1 is involved in multiple biochemical processes regulating blood flow

DIAMEDICA THERAPEUTICS - OVERVIEW

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STROKE & KIDNEY

TREATMENT OPTIONS

KLK1 IS AN

ENDOGENOUS

PROTEIN

URINE AND PORCINE

KLK1 USED IN ASIA

DM199 1ST

SYNTHETIC

KLK1

VALIDATING

LICENSING

AGREEMENT

DIAMEDICA THERAPEUTICS - OVERVIEW

Millions of patients successfully treated in Asia with KLK1 derived from human urine & porcine (pig)

pancreas for stroke, kidney diseases, hypertension, retinopathy & related diseases

Clinical trail data supports statistically significant therapeutic benefit in stroke and kidney disease

Demonstrated DM199 BIOEQUIVALENCE to crude forms of KLK1

DM199 amino acid structure is identical to human urinary form of KLK1

KLK1 protein is naturally produced by the body

Low KLK1 levels associates with stroke and kidney disease

Sept. 2018 DM199 licensing deal with / ‘s neuro subsidiary

Fosun is one of the largest Chinese Pharma companies and an investor in DiaMedica

Potential for significant milestone and royalty payments

Crude KLK1 has been used to treat millions of patients in AsiaDM199 is a synthetic bioequivalent of the crude forms DM199 has been well tolerated & active with trial design based on existing use in Asia

* Based on IQVIA data and company estimates.

DE-RISKED

DEVELOPMENT

PATH

Targeting large worldwide unmet medical needs for stroke and chronic kidney disease

• Stroke - 15M annual strokes worldwide

• Chronic kidney disease - 30M US and 120M in China alone

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PRODUCT DM199 KAILIKANG® KALLIDINOGENASE

Company& others

Source Synthetic KLK1 Human Urinary KLK1 Porcine KLK1

Indications Acute ischemic stroke & chronic kidney disease Acute ischemic stroke Chronic kidney disease,

retinopathy & hypertension

Markets Worldwide China Japan, China & Korea

Treated patients Clinical stage 500,000+ est. patients treated2 Millions est. patients treated2

DM199: FIRST ACTIVE SYNTHETIC KLK1 PROTEIN

2 IQVIA, Transl. Stroke Res., March 6 2017 and DiaMedica

SYNTHETIC ADVANTAGES

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REDUCE RISK PROFILE OF ENDOTOXINS & IMPURITIES

IMPROVE EFFICACYWITH OPTIMIZED DRUG LEVELS & DOSING & CONVIENCE OF SUBCUTANOUS (SC) DELIVERY

REGULATIONWORLDWIDE USE

1 Shanghai Pharma acquired controlling ownership of

Techpool, May 23 2018 at USD$550M valuation

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CHINA LICENSING DEAL

• Date: September 2018

• License: DM199 (synthetic KLK1) for acute ischemic strokeØ Excludes all other indications

• Terms:Ø $5 million upfront

• $500K on signing• $4.5M on clearance to start China clinical study

Ø $27.5M in additional milestonesØ Sales based royalties

• Licensee: Ahon Pharma, Fosun’s neuro subsidiaryØ One of largest Chinese pharma companies

• Intellectual property: Ø DiaMedica retains control of technology, manufacturing process

& cell line

Validation of DM199 Through Rigorous Diligence Potential for Significant Milestones and Royalty Payments

STRATEGIC PARTNER

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One Therapy, Multiple Applications

DM199 CLINICAL DEVELOPMENT

Acute Ischemic Stroke (AIS)

Chronic Kidney Disease (CKD)

PRE-CLINICAL PHASE I PHASE II PHASE IIIINDICATION

Vascular Dementia

Phase II initiated

Phase IB - Enroll Q1 2019

Phase II

Anticipated Milestones

Q4 2019 / Q1 2020

Mid 2019

Q4 2019/Q1 2020

2020

DM199

Phase II

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“Exogenous pancreatic kallikrein (KLK1) both prevented and

ameliorated diabetic nephropathy”

- Dr. Robert Stanton, Harvard, Kidney International

“Evidence has highlighted the importance of the Kallikrein-Kinin

System as a protective system against oxidative stress and organ damage in the heart and kidney. Activation of KKS is likely to be beneficial in… cardiovascular diseases and chronic kidney

disease”

- Dr. Oliver Smithies, Nobel Prize Winner, University of North

Carolina, School of Medicine

“Kallikrein (KLK1) protects against ischemic stroke by inhibiting

apoptosis [cell death] and inflammation and promoting

angiogenesis and neurogenesis”

- Dr. Julie Chao, Medical University of South Carolina

100+ Papers Published Including Top US Institutions on Importance of KLK1 Treatment

“ “ “KLK1 IN SCIENTIFIC LITERATURE

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DM199 (KLK1): INCREASING BLOOD FLOW IN BRAIN & KIDNEYS

§ Decreases inflammation§ Decreases fibrosis (tissue scarring)§ Decreases oxidative stress§ Regulates Neurogenesis

Improved blood flowin brain and kidneys

Anticipate Better functional

outcomes in stroke and

kidney disease patients

Improved brain and kidney function

Capillary (small) Blood Vessel

Nitric Oxide, Prostacyclin

DM199

KLK1

§ Improves vasoregulation§ Regulates angiogenisis

Promoting Cardiovascular Homeostasis (Stability)

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DM199 Boosts KLK1 Levels to Release Physiological Levels of BK When and Where Needed,Generating Beneficial Nitric Oxide, Prostacyclin and Related

DM199 MECHANISM OF ACTION

ACEi block normal breakdown of BK,

• Low KLK1 ➜ Low BK• ACEi ➜ limited efficacy

& side effects

Tissue Kallikrein (KLK1)

Low molecular weight kininogen

Bradykinin (BK)

Nitric Oxide & Prostacyclin

↑ Vasoregulation↓ Inflammation↓ fibrosis↓ Oxidative stressNeurogenesis regulation

↑ TREGS

↓ VEGF

Retinopathy

Anti-inflammation

BK2Receptors

BK1Receptors

Plasma Kallikrein (PK)

High molecular weight kininogen

Bradykinin (BK)

Extremely High Bradykinin (BK) Levels

Firazyre*

Kalbitor*

AngioedemaRetinopathy

DM199Recombinant KLK1

ACEi

ARB

ACE

ATI

ATII

AT1 & AT2 Receptors

Aldosterone K, Na Hyperkalemia

Kininases(Inactivate BK)

Cleaves VEGF in eyes

Suppresses autoimmune response

BK2Receptors

BK1Receptors

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• Well-tolerated in 5 clinical studies in 120+ subjects• Treatment-dependent stabilization of blood pressure• Dose limiting tolerability, orthostatic hypotension at 50 µg/kg

DM199 15/25 µg/kg vs. placeboDM199 3 µg/kg vs. placebo

Syst

olic

blo

od p

ress

ure

chan

ge -

mm

/hg

Syst

olic

blo

od p

ress

ure

chan

ge -

mm

/hg

Time (hours) Time (hours)

* p < 0.01* p < 0.01

PlaceboDM199

PlaceboDM199

DM199 STUDIES SHOWS EXPECTED PHYSIOLOGICAL & THERAPEUTIC ACTIVITY

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>15M Strokes Per Year

Worldwide

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Stroke is a Devastating Condition in Great Need for Treatment Options

Acute Ischemic Stroke (AIS)

• Blockage of blood flow in brain• ~87% of all stroke cases are AIS

• 2nd leading cause of death in developed countries

• Affects 1 in 6 people in their lifetime

• Average age of first stroke 65 years(Risk doubles each decade after 55)

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SIGNIFICANT UNMET NEED IN STROKE

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1 tPA (Tissue Plasminogen Activator)

tPA1

(Activase®)

ONSET

3 – 4.5 hours

24 HOURS

Most stroke patients should reach hospital by 24 hours

MechanicalThrombectomy

DM199

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Less than 10% of stroke patients treated

up to 24 hours

Stroke Treatment Window

Recent extension limited to specific types of patients6+ hours

DM199 has Potential to Provide Treatment Option for Almost all Stroke Patients

Potential frontlinetherapy if DM199 proven

safe in hemorrhagic stroke patients

ACUTE ISCHEMIC STROKE (AIS)

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Lower KLK1 Levels are Independently Associated With First-Ever Stroke and an Independent Predictor of Recurrence after an Initial Stroke1

Study of 2,000+ Stroke Patients and Event Free Survival Over 5 YearsRed line represents patients in lowest KLK1 quartile who are at highest risk of stroke

1 Annals of Neurology (2011) 70:265-73, Five year Event Free Survival by quartile, Kaplan-Meier Survival Curves.

LOW KLK1 LEVELS ASSOCIATED WITH STROKE PATIENTS

Quartiles:

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KLK1 (Urinary) Reduces Neurological Impairment After Acute Ischemic Stroke and Improves Long-Term Outcomes - 2,433 patient meta analysis4

• Human trials published in 50+ papers, covering 4,000+ stroke patients, demonstrate KLK1 efficacy on standard stroke scores, blood flow, inflammation and other measurements6

25

50

75

Baseline 3 Months

Bart

hel I

ndex

(BI)

at 3

mon

ths3

PlaceboKLK1

*

1 Chin J Neurol, May 2007, Vol 40, No 52 IMS Health and Transl. Stroke Res. March 06 20173 Measure of activities of daily living4Journal of Evidence-Based Medicine (2012) 5: 31-39 6 MRS, BI, NIHSS, CRP, MMP9, MMP9, Aβ levels and others

KLK1 (Urinary) Phase III in 446 Patients Treatment Initiated Within 48 hours of Stroke Improved Post Stroke Function Compared to Placebo1

KLK1 (URINARY) STROKE USE IN ASIA

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DM199 REPLENISHES KLK1 LEVELS

DM199 Dose Level Identified for Stroke Patients

Normal humanKLK1 range

Pharmacokinetic Profile (Drug Levels in Blood) In Subjects Dosed Every 3 Days

KLK1 levels (ng / mL)

DM199 SC maintains target KLK1 levels better than approved Kailikang® (urinary KLK1) Potential to substantially improve efficacy, safety and tolerability

Days

Last Dose

First Dose

Target range for stroke patients

0 7 14 21 28

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Study endpoints at 90 days:• Safety, KLK1 levels

• Stroke function - Modified Rankin

score, Barthel Index and NIHSS

• Biomarkers - inflammation, MMP-9

and others

DM199 IV

administration

≤24 hours from

symptom onset

DM199 IV, followed by SC

Placebo

Randomization 1:1

Double blinded

DM199 subcutaneous (SC) admin.

Day 1 & every 3rd day over 21 days

21 days90 days

Endpoint

• Phase II – first dose IV within 24 hours of stroke followed by 21-days SC treatment• Up to 100 patients

• Mild-moderate stoke severity (NIHSS score >6) at treatment

• Endpoints - standard stroke endpoints and anticipate same protocol design for phase III

24 hours

Dosing complete

DM199 REMEDY TRIAL: PHASE 2 ACUTE ISCHEMIC STROKE STUDY

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~30M Chronic Kidney

Disease Patients in the

U.S. Alone

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Chronic Kidney Disease (CKD)

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CHRONIC KIDNEY DISEASE (CKD)

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• CKD is the progressive loss of kidney function leading to dialysis, transplantation and ultimately death

• Current standard of care – managing blood pressureØ ACEi (Ramipril) and ARB (Valsartan, Losartan) o Less than 30% patients on required dose due to adverse side effect risks

• KLK1 (DM199) treatment option to improve kidney function:Ø Regulate blood flow, reduce inflammation, reduce damage to small blood vessels

to prevent structural damageØ KLK1 (porcine) approved in Japan and China to treat CKD & retinopathy

2121

LOW KLK1 LEVELS ASSOCIATED WITH KIDNEY DISEASE

1 Immunopharmacology 44 1999. 183–192

Lower KLK1 Levels Found in Patients with Kidney Disease

KIDNEY DISEASE

KLK1 LEVELS

High

LowNormal SevereMild

Severe Kidney Disease,Lower KLK1 Levels1

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KLK1 (PORCINE) USED TO TREAT KIDNEY DISEASE IN ASIA

• Human published trials in 20+ papers demonstrating KLK1 efficacy and

supporting clinical use and mechanism

1 Hainan Medical Journal, 2014-012 Chin J Diabetes, August 2011, Vol 19, No 8

“Kallidinogenase [KLK1] has Significant Curative Effect in the Treatment of Diabetic Nephropathy” - meta analysis1

0

50

100

150

Baseline 6 Months

Urin

ary

Albu

min

Exc

retio

n R

ate

(mg/

24h)

at 6

mon

ths

Upper limit of normal kidney function

PlaceboARB KLK1+ARB

KLK1 (porcine) Treatment Combined with ARB Over 6 Months Restores Kidney Function - 90 Patient Study2

*

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Phase II, multi-center, US, Randomized, Multiple dose• Rare disease focused • 30 patients per rare disease (targeting multiple diseases) • Patients to act as their own control

Study endpoints at week 12:• Safety, Tolerability of KLK1 and DM199 Levels• PK levels of KLK1 and DM199 • Change in KLK1 levels based on dose • Albumin to creatinine ratio, eGFR, BP & Glucose

DM199 dose 1 (dosed 1 or 2 times week depending on Phase Ib results)

Day 1 Week 12

DM199 dose 2 (option depending on Phase Ib results)

Multiple Kidney Diseases with Multiple Clinical Read-Outs

DM199 dose 1 - (2 cohorts)

Day 1 Day 12

Phase Ib, multi-center US, Randomized, Single dose • 32 CKD patients (Cohort 1 N=24, Cohort 2 N=8) • T1D or T2D with moderate or severe CKD

Study endpoints over 12 days:• Safety, Tolerability of KLK1 and DM199 levels• PK levels of KLKI and DM199• Change in KLK1 levels based on dose• Albumin to creatinine ratio, Kidney Biomarkers, BP & others

DM199 dose 2 – (1 cohort)

DM199 dose 3 – (1 cohort)

EndpointEndpoint

Phase Ib to select dose for phase II

DM199 PHASE IB & II CKD STUDY DESIGN

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§ Issued composition of matter (2033) and delivery (2033) patents

§ Worldwide dose, route of delivery, formulation & indication patent pending (2038)

§ 12 years of biologics exclusivity in US 10 years in EU

§ Manufacturing know-how expertise and trade secrets, at least 5 companies unsuccessfully attempted a synthetic KLK1

Patents & Trade Secrets

§ Exclusivity with manufacturer on patented expression system

§ Proprietary cell line, expression system, composition & know-how

Licensing Strategy

Manufacturing Exclusivity

§ Unlike many small-molecule drugs, DM199 cannot be reverse engineered – Attempts to synthesize human KLK1 through bioanalysis

have not been successful, and DM199 is virtually identical to human KLK1

§ DiaMedica will opportunistically license DM199, will not share formulary secrets– DiaMedica produces final product

– Protects against infringement

– Easily audit royalty payments

At least five other Companies have been unsuccessful developing synthetic KLK1

ROBUST AND MULTI-LAYERED IP POSITION

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BOARD

RICK PAULS, MBA

PRESIDENT & CEO

Former venture capitalist with two early stage funds, including co-founder & Managing Director of life sciences venture capital fund

TODD VERDOORN, PHD

CHIEF SCIENTIFIC OFFICER

28+ years experience with several neurological companies including Fidelity Biosciences, and with Bristol Myer Squibb’s stroke group

LEADERSHIPSCOTT KELLEN, CPA (INACTIVE)

CFO & VP FINANCE

25+ years in life sciences industry. Held senior leadership roles including CFO and COO for several private and pubic (Nasdaq) companies

RICHARD PILNIK, MBA

CHAIRMAN

Former VP & Chief Marketing Officer at Eli Lilly, former President, Innovex (a Quintiles Company). Former board member of Elan Pharma & Chiltern (acquired)

MICHAEL GIUFFRE, MD, MBA

DIRECTOR

Clinical Professor of Cardiac Sciences at University of Calgary, BOD FoodChek Inc, BOD Canadian Medical Association; BOD SCS Inc.

RICK PAULS, MBA

PRESIDENT & CEO

Former venture capitalist with two early stage funds, including co-founder & Managing Director of life sciences venture capital fund

ZHENYU XIAO, PHD

DIRECTOR

Managing Director of Hermed Capital, previously Associate General Manager of Fosun Pharmaceutical - deputy chief of Fosun Pharmaceutical IPO

JAMES PARSONS, CPA-CA

DIRECTOR

CFO at Trillium, a Nasdaq listed biotech company. Has been CFO of life sciences companies for last 15 years

PAUL PAPI

VP BUSINESS DEVELOPMENT

38+ years life sciences experience, 28 years Mylan, 10 years investment banking, business dev., capital markets & M&A transactions

HARRY ALCORN JR., PHARM.D

CHIEF MEDICAL OFFICER

30+ years biopharma experience. Principle Investigator of over 150 clinical studies, mainly kidney disease. Former Chief Scientific Officer at DaVita

PHILIP BATH, MD, DSC

Chair and head of clinical neuroscience, University of Nottingham

PAOLO MADEDDU, MD

Chair of experimental cardiovascular medicine, University of Bristol

JOHN VOLPI, MD

Co-director of the Eddy Scurlock Stroke Center, Houston Methodist

BRUCE CAMPBELL, MD

Head of Hyperacute Stroke in the Department of Neurology, Royal Melbourne Hospital

SCIENTIFIC ADVISORS/COLLABORATORSROBERT STANTON, MD

Chief of Kidney and Hypertension and principal investigator of vascular cell biology at Joslin Diabetes Center, Harvard Medical School

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Highly Experienced Leadership Team

DM199 licensed in China for Stroke

DM199 De-Risked Product Profile

Crude form of KLK1 approved and used in Asia

Significant markets with large unmet needs