1. INVESTOR PRESENTATION
CSE: FONE
OTCQX: FLOOF
FSE: F11
NOVEMBER 2020

2. Statements in this presentation that are not statements of historical or current fact constitute "forward-looking information" within the meaning of Canadian securities laws and
"forward-looking statements" within the meaning of United States securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and
unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future actual
results expressed or implied by such forward- looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider
statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "potential," "should," "may," "will," "plans," "continue" or other similar expressions to be
uncertain and forward-looking.
Forward-looking statements may include, without limitation, statements relating to the revenue projections for Q3 2020; the Company’s ability to take advantage of the U.S. cannabis
opportunities; the Company’s value proposition; the projected market growth in Nevada and its estimated cannabis sales; the strength of the tourist market in Nevada; the growing
number of retail locations in Nevada; annual production and average cash cost per gram; the number of cannabis strains; extraction capabilities;
manufacturing, and production, distillation and processing capabilities; distribution, sales and marketing capabilities; operational enhancements; strategic expansion; the Company’s Q3
2020 revenues; new brand partners; the launching of Lift Tickets and Heavy Hitters and the expansion of White Label Offerings in Nevada; and the Company’s ability to ensure the
health and well-being of all of its employees.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States
through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States
federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading "Risk Factors" in the Company’s
Annual Information Form dated June 23, 2020 (the "Annual Information Form") filed on its issuer profile on SEDAR at www.sedar.com.
The forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement regarding Forward-
Looking Information" section contained in the Annual Information Form. All forward-looking statements in this presentation are made as of the date of this presentation. The forward-
looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s public securities filings
with the Canadian securities commissions, including the Company’s Annual Information Form.
Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-
looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to:
dependence on obtaining regulatory approvals; the impact of the COVID-19 pandemic; investing in target companies or projects that are engaged in activities currently considered
illegal under United States federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market
growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this presentation are made as of the date of this presentation.
Flower One Holdings disclaims and does not undertake any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
2
Disclaimer

3. Our flagship facility in Nevada is one of the top
yielding facilities in North America. Flower One has
built an industry-leading team focused on a corporate
goal to be the first national high-quality, low-cost
brand fulfillment partner in cannabis.
Watch the video
4

4. GREENHOUSE FACILITY
PRODUCTION FACILITY
Square Feet
Flagship greenhouse,Nevada’s
largest and among North
America’s top yielding with an
annual production capacity
of 100K-110K pounds
Capability to process over 1,000
pounds of bulk and branded flower
along with 3,000 to 5,000 pounds of
biomass into dozens ofproducts
Current indoor cultivationand
production space for testing
strains from the Company's
genetic library and growing
select, premium craft cannabis
Andcountingwithindustry
leading brand and
distribution strategy led by
cannabis industrypioneers
25K 16+
Brand Partners
400K 55KSquare Feet Square Feet
4
About Flower One

5. 5
Brand Partnerships

6. 400k sq. ft. largest scale,
high tech commercial
greenhouse in the state
of Nevada
Flower One serves the
entire Nevada market,
including tourists near
the Las VegasStrip and
local consumers
throughout Nevada
55k sq. ft. postharvest
production facility
Nevada Market Stats
• Flower One has the only large-scale
greenhouse in Nevada
• Limited licensing structure
• Concentrated, efficient market: 80%
of cannabis sales take place within
Clark County
• Strong tourist market along with a notable
resident cannabis customer set
• 70 current retail locations and growing
• #2 target market for brands
Sources: Nevada Department of Taxation | Echelon Wealth Partners | Marijuana Business Daily
* Nevada’s estimated cannabis sales for 2020 | BDS Analytics
6
Why Nevada?
$539M
2018
$639M
2019
$730M
2020*
25k+ sq. ft. indoor
facility for R&D and
genetics library
Nevada Retail Cannabis Sales

7. 7
Our Value Proposition
:
• Speed and ease of market entry
• Eliminate high cost of capital to build
dedicated facilities for individual brands
• Assist brands to secure all required
regulatory licenses
• Consistent product quality with custom
product fulfillment
• Industry-leading cultivation analytics - lowest
cash cost per gram
For Our Brand Partners
:
For Our Retail Partners
• Simplified single source ordering for a full
suite of products
• Diverse brand, white label and bulk
wholesale offerings
• Just-in-time delivery to free up working capital
• Consistency of product quality and surety
of supply
• Full control over supply chain ensures
total traceability of products

8. MAY 2019
First CropPlanted
Fully Canopied First Harvest
JUNE 2019
Production / Extraction Lab Completed
SEPTEMBER 2019
AUGUST 2019
First Licensed Sale out of Greenhouse
Start of Construction
MAY 2018
8
Development Timeline

9. 9
Camino Launch
Q4 2019
Camino Places 3rd in
Nevada GummySales
Q1 2020
Flower One Announces
Partnership with Cookies &Kiva
NOVEMBER2019
Successful Cookies Launch
& Announcement of
Cookies Las Vegas Store
Q3 2020
Flower One Announces
Partnership with OldPal
OCTOBER 2019
Old Pal Receives State
Approval to LaunchVapes
Q1 2020
Old Pal Maintains Top Selling
Flower Based on Total UnitsSold
Q2 2020
Old Pal Recognized as
Top Selling Flower
Based on Total Units Sold
Q4 2019
Terra BiteLaunch
Q12020
Brand Performance Highlights

10. sodas
“When it came to
cannabis cultivation
and production,
it was clear that
Flower One was the
leader in Nevada.“
– Berner, Founder of Cookies
Cookies is now globally recognized, amassing
a stable of world renown proprietary cannabis
varieties and product lines including indoor,
outdoor and sungrown
fl
ower, pre-rolls,
gel caps, vape carts, edibles, and more.
Starting with just 2
fl
agship Cookies
stores in Los Angeles on Melrose and
MaywoodAvenues, Cookies is now
global with a smoking lounge in
Barcelona, and licensed producers
in Israel and 9 states across the U.S.
including California, Arizona, Nevada,
Washington, Oregon, Michigan,
Maryland, Massachusetts, and New Jersey.
Cookies
Cookies is one of the most well recognized and top-selling cannabis brands in the
world. Cookies was founded in the Bay Area of Northern California in 2012 by Berner,
the prolific rapper and entrepreneur, and his partner Jai, a well-respected Bay Area
cultivator and breeder. The combination of new genetics, the internet, and its
connection to music and streetwear culture helped Cookies become one of the first
cannabis companies to establish a brand identity and streetwear clothing company
under the same name.
10

11. Cultivation
Extraction
Manufacturing & Production
Distribution, Sales, Marketing
Brand / Market Penetration Strategy
11
Turnkey Solution for Brand and Retail Partners
Strain: Cinex
Harvest Date: 05/21/20

12. Image: June 2019
100-110K+ $0.69 25+ 150
Pounds per annual
production capacity
Average cash cost / gram
As of Q3 2020*
Cas
Years of large scale
greenhouse excellence
Cannabis strains
12
Cultivation
*Cash cost per harvested gram has historically been reported between $0.40-$0.49, prior to Q2-20

13. Ethanol, LPG and CO2 Finest full spectrum
oils, distillates, and
finished products
Commercial scale distillation
capacity; throughput
sufficiently sized to easily
meet all internal needs
Scientists, engineers and
cGMP manufacturing
professionals
50kg+
Multiple
Capabilities
Superior
Refinement Top Talent
13
Extraction

14. Exclusive partnership with
#1 design build firm inU.S.
in food and beverage
Square feet of state-
of-the-art production
SKUs emerging from
Production Facility
Diverse product offerings,
contract manufacturing,
white label solutions and
biomass at scale
100+
Dennis
Group
Product
Capabilities55K
14
Manufacturing & Production

15. Just-In-Time
Delivery
Dispensaries preserve
working capital
Localized Sales
& Marketing Experts
Launch campaigns,
in-store activations
and customer loyalty
Established Retail
Partnerships
90%+ Dispensary
Penetration
Top selling brandsfrom
California andbeyond
Image inside one of Flower One's Nevada dispensary partners
Leading Brand
Portfolio
15
Distribution, Sales & Marketing

16. $0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
$10,000,000
$11,000,000
$12,000,000
Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
Reported Actual Preliminary
*All figures are in USD
First
Harvest
Launch of
Production Lab
Revenues Improved
128% from Prior
Quarter
Revenue Ahead of
Company Guidance
Despite COVID-19
State Closure
16
Revenue Performance
Start of
Greenhouse Sales
Record Monthly Sales
in March of $3.9M
Highest Recorded Quarterly
Revenue of $11.9M

17. • Total number of licenses vs. total
addressable market sizes
• Competitive cultivation landscape
(greenhouse, outdoor, etc.)
• Wholesale & retail regulatory landscape
• Current inventory of distressed cannabis
assets alongside the opportunity to
leverage Flower One's operations and
brand portfolio
• Evolving partner agreements with
MSO's and other private retailers
States with Legal Medical
& Recreational Cannabis
States with Legal
Medical Cannabis
Key Factors
17
Strategic Expansion

18. Ken Villazor
President & CEO
20 years of corporate affairs experience
and has held senior positions with
multiple global pharmaceutical
companies. Public company Director
experience and 10 years as an
executive and advisor to a National
Hockey League franchise.
Kellen O’Keefe
Chief Strategy Officer
Decade of cannabis experience leading
business development, brand portfolio’s
and capital sourcing. Recognized as one
of the industry’s early leaders. Worked
with large CPG companies in marketing
and brand development.
David Kane
Interim Chief Financial Officer
Certified Public Accountant with over three
decades of finance and accounting
experience with several roles as a Chief
Financial Officer. Most recently, Mr. Kane
was CFO of Xtreme Cubes Corporation,
a manufacturing company, and Tryke
Companies, a vertically integrated cannabis
company, both located in Nevada.
Salpy Boyajian
COO – Nevada Operations
FounderofNLVOrganics,oneofNevada’s
firstcannabiscompaniesthatwas
subsequentlyacquiredbyFlowerOne
and servedasitsentrypointtotheNevada
market. Serialentrepreneurandoperator
whohas launchedseveralothersuccessful
businesses. HasoverseenFlowerOne’s
Nevada operationsfrombeginning
topresent.
Ricky Jefferies
Director of Post Harvest & Fulfillment
25 years experience in world-class
operations – including aseptic processing,
maintenance, sanitation, warehousing,
food, biochemical, and pharmaceutical.
Mr. Jefferies, is responsible for the
implementation and oversight of a post-
harvest program that sustains product
quality, promotes storage viability, and
generates positive economic output.
Francisco Rodarte
Grower
One of Flower One’s lead growers and
an instrumental part of the cultivation
team. Day-to-day responsibilities include
ensuring the overall health of Flower
One’s plant material, cloning, light
recipes, climate control, irrigation,
fertilizers, and general oversight of the
entire life cycle of the plant from seed
to shelf.
18
Our Leadership Team
Patrick Duffy
Director of Sales
Responsible for the leadership and
coordination of Flower One’s sales and
marketing functions. Mr. Duffy’s 10 years
of sales experience are essential to
developing and executing the
Company’s sales and marketing
strategy. Most recently, Mr. Duffy was
Director of Sales at Headwaters and
Leaf Logix.
Thomas Rosengren
Director of Extraction & Production
Responsible for the implementation of
data-driven methodologies to improve
quality and yield of extracted products
for Flower One. Successfully leveraging
LEAN and Six-Sigma methodologies, Mr.
Rosengren’s strategies reduce risk, waste
and turnaround times, leading to
improved life-cycle sustainability, quality,
and margins across cultivation and
extraction operations.

19. Appendix

20. Source: Market size and penetration rates based on Brewers Association (beer), Park Street (wine and spirits), Ackrell Capital (coffee), Cowen Group (cannabis year 2030). Penetration is defined as the percentage
of adults consuming each respective product in the past year.
CANNABISCOFFEEBEER WINE & SPIRITS
$100B+ $100B+ $80B+$50B+
25% Penetration 14% Penetration50% Penetration20% Penetration
20
U.S. Cannabis Opportunity

21. • Significantly enhanced quality of Company's dry cannabis as a result of data improvements made in the crop management process
• New drying and curing techniques have resulted in improved aroma, THC levels and physical bud characteristics as well as enhanced
terpene profiles
• Successfully validated Fresh Frozen harvest process to expand product offerings and continue to offer best-in-class concentrates
• Continued improvements in upstream extraction, resulting in first-pass distillate achieving 92% THC levels, on average, across all lots
• Revised, flexible crop management limits number of zones planted in order to match current market demand and reduce expenses
during costlier cultivation months
Flower One continues to identify operational improvements to lower costs, improve
cultivation methods and enhance overall product quality
21
Operational Enhancements

22. JUNE
4
All casinos,
including those
on Las Vegas Strip,
can reopen with
certain restrictions
and protocols
MAY
29
Phase 2
of Nevada
reopening begins
MARCH
20
Alllicensedcannabis
establishments are
deemed essential
andare permittedto
continuetooperate
through delivery-
only sales
MAY
1
Dispensaries
permitted to
expand service to
include curbside
pick-up
Dispensary
storefronts allowed
to re-open subject
to specific physical
distancing criteria
and protocols
MAY
9
22
Initial State Government Response Plan

23. • Additional cleaning staff hired and deployed across locations
• Implemented pre-cautionary disinfection process of entire facility between each shift
• Shift-based employees have been properly socially distanced, with no overlay or contact between teams
• Reconfiguration of production workflows to increase working distance between all non-shift employees
• Onsite dispensary activations temporarily suspended to assist retail partners with managing newly adjusted in-store
customer flow and demand
Flower One is committed to ensuring the health and well-being of all of its employees,
while at the same time protecting the safety and consistency of the cannabis supply
chain in Nevada
23
Beginning in mid-March with the on-set of COVID-19, Flower One enhanced the
Company’s already stringent food-safety standards
COVID-19 Operational Response Plan

24. Ken Villazor
Mr. Villazor has more than 20 years of
experience in Corporate Affairs including
communications, public relations, business
development, regulatory affairs,
government relations, philanthropy and
public policy. He has held numerous senior
positions in the pharmaceutical industry
working extensively in government
regulated aspects of commercial
operations including formulary/market
access, pricing compliance, price controls,
manufacturing grants, regulatory approvals
and shaping federal and provincial
government policies. Mr. Villazor has been
a director of Organic Garage Ltd.
(TSXV:OG) since 2016 and serves on its
Audit Committee, Governance Committee
and Compensation Committee. He has
worked for a number of large
pharmaceutical companies including
SmithKline Beecham, GlaxoSmithKline and
Biovail Corporation as well as with the
industry’s national trade association based
in Ottawa. In addition, Mr. Villazor spent
more than a decade in the sports and
entertainment industry including having
served as an Alternate Governor and
advisor to a National Hockey League
franchise. His Board experience spans the
academic sector, not-for-profit sector and
publicly-traded companies.
David Wesley
Mr. Wesley has a decade of experience
in the development, implementation
and operational handover of some of
the largest commercial greenhouse
operations in North America. He has
delivered over $400 million dollars of
agricultural, office, industrial and other
greenfield construction. Mr. Wesley has
extensive multi-national experience
leading development efforts and
regulatory compliance from the local
city-level to federal agencies. He has
experience in both private company
and advisory Boards. Mr. Wesley
holds a Masters Degree in Business
Administration in Executive
Management with a Specialization in
Management Consulting, a Masters
Certificate in Project Management, and
Certificate in Business Administration.
Amit Varma
Mr. Varma brings with him approximately
20 years of experience in cross border
corporate banking and finance roles with
some of the largest financial institutions in
Canada as well senior management and
executive roles with some of Canada’s
largest agricultural companies. Mr. Varma
has worked in both large private and
public companies and has been
responsible for sourcing, developing, and
maintaining new and existing relationships
with strategic financial partners to ensure
the long-term availability of adequate
sources of capital including equity and
debt required for the ongoing operations,
planned capital expenditures and the
funding of the company’s strategic
initiatives including possible mergers and
acquisitions. Throughout his career in both
the private and public sectors, Mr. Varma
has successfully delivered several billion
dollars in debt and equity financing.
Molly Hemmeter
Ms. Hemmeter has over 20 years of
experience leading and advising public,
private and VC-backed health and wellness
companies with a commitment to
sustainability. She currently serves on the
Board of Wilbur-Ellis and was recently the
CEO, President and Director of Landec
Corporation (NASDAQ: LNDC). During her
10 year career at Landec, she led the
turnaround of the Curation Foods business
from a commodity vegetable company to
a branded natural foods company and the
acquisition of Lifecore Biomedical and its
subsequent organic growth into adjacent
markets. Prior to Landec, she served as
Vice President of Global Marketing and
Business Development at Ashland
Chemical, was an executive at two
successful software companies that were
later sold and held additional positions in
strategy, marketing, engineering and
operations at a number of leading
chemical, pharmaceutical and consumer
product companies within the U.S.
Ms.Hemmeter holds a Bachelor of Science
and Masters in Chemical Engineering from
the University of Louisville and an MBA
from Harvard Business School.
Salpy Boyajian
Ms.Boyajian officially joined Flower
One in October of 2018 following the
acquisition of NLV Organics, which she
co-founded in 2014. She currently serves
as Flower One’s Chief Operating Officer,
Nevada Operations and was one of the
original winning applicants granted
cannabis licenses by the State of Nevada.
Ms.Boyajian is an established member of
the Nevada cannabis industry and well
respected as one of the top female
founders in cannabis with extensive
relationships across the industry. A serial
entrepreneur and business operator,
Ms. Boyajian has a background in the
field of psychotherapy and is a licensed
clinician and psychotherapist.
24
Board of Directors

25. Ken Villazor, President & CEO
Toronto, ON
E kvillazor@flowerone.com
Media & Investor Inquiries
NATIONAL Capital Markets
Toronto, ON
E ir@flowerone.com
Kellen O’Keefe, Chief Strategy Officer
Los Angeles, CA
E kellen@flowerone.com
David Kane, Interim Chief Financial Officer
Las Vegas, NV
E dkane@flowerone.com
Media Inquiries
E media@flowerone.com
Contact