Clever Leaves : Investor Presentation

April 2024

Who We Are

Our operations in Colombia produce cannabinoid active pharmaceutical ingredients (API) and finished products in the form of flowers and extracts

We provide value by facilitating an asset-light go-to-market strategy for our partners

We facilitate downstream distribution and branding for select markets, with both white-label and CLVR-owned brands

Clever Leaves aims to disrupt the traditional cannabis production industry by leveraging environmentally-sustainable,industrial scale and low-cost production methods wrapped in the world's most stringent pharmaceutical quality certifications

1

Investment Highlights

1 Low-cost cultivation leader in Colombia

2	Multinational operator decoupling production and
commercialization - we do both where it makes sense
3	Pharmaceutical-grade production authorized for export, with multi-
year product cycles now reaching commercial delivery phase
4	Seasoned global leadership team with operational & regulatory
expertise in key geographies
5	Focused on driving scale and cash flow generation leveraging
attractive unit economics

2

Clever Leaves' Goal is to Become a Hub in the Global Cannabinoid Supply Chain

United Kingdom

Germany

Portugal

Colombia

Brazil

Legend

Focus Markets

Cultivation/Production

Incremental 2023 Destinations

Czech Republic

Switzerland

Israel

Australia

3

Focused on Key International Markets

The combination of commercial efforts and regulatory viability makes the following markets key regions of focus

Near-Term Focus (2024)

Australia	Brazil	Germany	Israel	United
Kingdom
		Long-Term Targets

Ecuador

Italy

Mexico

Panama

Poland

4

Significant Progress in a Lengthy Sales Cycle

A complex and lengthy sales process

(between 12-24 months)….

					Expect to
Identify			Country-		Achieve
	Initial	Specific	1st	Repeat/Regular
Prospective	Quality
Pathfinder	Regulatory	Commercial	Purchase
Customer
Systems Audit	Shipment	Approval	Shipment	Orders

Product	New Supply	Validation of	Apply for &	Receive
Specifications	Agreement	Product	Obtain Export	Market
Developed &	Secured	Quality -	& Import	Feedback,
Country-			Rigorous	Permits	Achieve
		Testing
Specific					Acceptance

Regulatory

Path

Determined

…leads to a distinct competitive advantage with

recurring, high-margin revenue

5

Positioned for Global Cannabis Evolution

International Cannabis 1.0	International Cannabis 2.0
Physician prescription	Expanded consumer access
Pharmacist-owned retail	Owned retail; customer-oriented
Traditional pharmaceutical	Adult-use legalized; less stringent
quality standards and
regulation	regulation

6

Colombian Operations Driving Efficiencies

Optimal Growing Conditions

• 12 hours of daily sunlight year- round; no need for artificial light
• High elevation → improved pest mitigation
• Rainwater collection supplies 2/3 of water needs
• No de-humidifiers or HVAC

Cost Advantages	Limited Capex
• Low labor cost and minimum	• Existing cultivation capacity
wage(<$2.00/hour vs. $8.00-	sufficient for near-term
$12.00/hour in Canada)	commercial needs, including
• Labor and production	flower exports
efficiencies help drive gross
margin benefits

Current Cultivation and Extraction

40,000 sq. ft. post- harvest processing facility

1.8M sq. ft. of licensed greenhouses

GACP-certified in May 2020 EU GMP-certified in July 2020

EU GMP-certified facility with

108,000 kg per year of dry flower extraction capacity

EU GMP-certified in July 2020

INVIMA GMP-certified

(Colombia / LatAm)

Note: 1 ha: 107,639 sq. ft	9