Flower One is the largest cannabis cultivator, producer, and full-service brand fulfillment partner in the state of Nevada. The Company's common shares are traded on the Canadian Securities Exchange under the Company's symbol "FONE", in the United States on the OTCQX Best Market under the symbol "FLOOF" and on the Frankfurt Stock Exchange under the symbol "F11". For more information, visit: https://flowerone.com.

1. APRIL 3, 2020

2. 2
Disclaimer
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, the Company’s ability to complete the Company’s 25k+ sq. ft. state-of-the-art commercial kitchen in Q3/Q4 2020; to take advantage of U.S. cannabis
opportunities, to maintain the lowest cost per gram in the industry and to become the largest producer and brand fulfillment partner in Nevada and replicate the model in other strategic markets; the projected market growth
in Nevada; the expected number of dispensaries in Nevada; crop yields; potential annual production and average cash cost / gram; and the potential sales and revenues from the sale of the Company’s products.
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 Shelf Prospectus dated September 27, 2019 and the Prospectus Supplement dated November 8, 2019 (collectively, the
“Prospectus”) filed on its issuer profile on SEDAR at www.sedar.com.
Further, the Company’s business could be significantly impacted by the recent outbreak of the coronavirus (“COVID-19”) which has had a negative impact on global financial conditions. The Company cannot accurately
predict the impact that COVID-19 will have on the Company’s ability to remain open in response to government public health efforts to contain COVID-19 and on future demand of the Company’s wholesale and finished
packaged products; or the Company’s ability to obtain financing or third parties’ ability to meet their obligations with the Company, including due to uncertainties relating to the ultimate geographic spread of the virus, the
severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. Governments may increase regulations and restrictions regarding the
flow of labour or products, and travel bans, and the Company’s operations, suppliers, customers and distribution channels, and ability to advance its projects, could be adversely affected. In particular, should any employees or
consultants of the Company become infected with COVID-19 or similar pathogens, it could have a material negative impact on the Issuer’s operations and prospects.
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
Prospectus. 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 Prospectus.
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; 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 news release are made as of the date of this release. 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.

3. 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 delivering on our
promise to be the first national high-quality, low-cost
brand fulfillment partner in cannabis.
Watch the video

4. 4
U.S. Cannabis Opportunity
BEER
$100B+
25% Penetration
Source: Market size based on Brewers Association (beer), Park Street (wine and spirits), Ackrell Capital (coffee), Cowen Group (cannabis year 2030). Penetration rates based on Nielsen Panel Data (beer), Park Street (wine and spirits),
Ackrell Capital (coffee) and Cowen Group (cannabis). Penetration defined as percentage of adults consuming respective product in the past year.
WINE & SPIRITS
$100B+
20% Penetration
COFFEE
$50B+
50% Penetration
CANNABIS
$80B+
14% Penetration

5. 5
Recent Quarterly Financial Performance
Q4 REVENUES
$5.7M, up 128% from Q3-19
FULL YEAR REVENUES
$9.4M; ahead of company guidance of $9.0M
Q1 REVENUES
$8.9M; in-line with company guidance of $8M-$10M
MARCH 2020 CANNABIS SALES
$3.8M; highest month of sales to date
MoM REVENUE GROWTH
17% on average, since first full month of production from greenhouse in September 2019
2019
2020
* All figures on this slide are in US dollars and are preliminary unaudited numbers.

6. 6
Revenue Performance
Q1 Q2 Q3 Q4* Q1 2020**
* Preliminary FY-19 revenues of $9.4M, as of the company press release dated March 9, 2020
** Preliminary Q1-20 revenues of $8.9M, as of the company press release dated April 6, 2020
Note: All revenue figures are unaudited
Start of
Greenhouse
Sales
First
Harvest
Launch of
Production /
Lab Facility
Reported Actual Preliminary

7. 7
Investment Highlights
THE LARGEST CULTIVATOR AND PRODUCER IN NEVADA
Delivered the state’s largest commercial greenhouse from construction to revenue in 14 months
INDUSTRY-LEADING CULTIVATION ANALYTICS
Lowest cost per gram in the industry
LED BY INDUSTRY’S LEADING AGRICULTURAL AND CPG TALENT
Track record of delivering profitable, high growth businesses for over two decades
UNIQUE BUSINESS MODEL
Focused on cultivation, production and end-to-end fully integrated brand fulfillment at scale
FUTURE OUTLOOK AND STRATEGY
Become the largest producer and brand fulfillment partner in Nevada and replicate the model in other strategic markets
INTEGRITY AND TRANSPARENCY
Full control over supply chain with total traceability of products, ensuring consistency of dosage
of product while growing on a large-scale basis
Building a Leading Cannabis CPG Fulfillment Company

8. 8
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
Turnkey Solutions For Leading Brands
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
Creating Value For Cannabis Retailers
STRAIN: Purple Punch
HARVEST: 09/12/19

9. May 2018
Start of
Construction
June 2019
Fully Canopied
First Harvest
9
Timeline
May 2019
Planted
First Crop
Q3 2019
First Licensed Sale out of Greenhouse
Production / Extraction Lab Completed
Initial Brands Launched into Market
Q4 2019
Signs Top California Based Brand
Partners – KIVA, Cookies & 22Red
KIVA Camino Launch

10. 10
Q1
Launches –
KIVA Terra Bites
Huxton Pre-roll
Q2
Launch of 22Red
Expansion of White Label Offerings
Q2
Launches Leading Vape Brands –
The Clear, Heavy Hitters & Old Pal
Q2 / Q3
Launch of Cookies
Product Line
2020 Brand Launches

11. 11
Highest Quality & Lowest Cost Cannabis Fulfillment Partner
Cultivation
Extraction
Manufacturing & Production
Distribution, Sales, Marketing
Brand / Market Penetration Strategy

12. 12
Actual 2019 Cannabis Sales = $639 Million
Estimated 2024 Cannabis Sales = $1.5 Billion
Flower One has the only large-scale
greenhouse in Nevada
Controlled number of licensed producers
Cannabis is considered an “essential business”
in current market conditions
#2 target market for brands
Strong tourist and local cannabis market
Growing number of retail delivery services
Sources: MJBiz Daily September, 2019 | Cannabis Business Times October,
2018 | New Frontier Report, Arcview Market Research | Nevada
Department of Taxation | Bureau of Economic Analysis | US Census
Bureau | Echelon Wealth Partners
Nevada Market to Double by 2024
400k sq. ft. largest scale,
high tech commercial
greenhouse in the
State of Nevada
25k-50k+ sq. ft. state
of the art commercial
kitchen set to break
ground in Q2 2020
Flower One serves the
entire Nevada market,
including tourists near
the Las Vegas strip and
local consumers
throughout Nevada
55k sq. ft. post harvest
production facility
25k+ sq. ft. indoor
facility for R&D and
genetics library
Why Nevada?

13. 13
Continued Strength of Nevada Cannabis Sales
Source: BDS Analytics /
February 2019 to February 2020 POS Y/Y0%
5%
10%
15%
20%
25%
30%
35%
40%
37%
AZ CA CO NV OR
11%
13%
16%
27%

14. Nevada Footprint
Square Feet Square Feet Square Feet Brand Partners
flagship greenhouse, Nevada’s
largest and among North
America’s top yielding with
annual production forecast to
exceed 140,000 lbs
Nevada’s largest post-harvest
production facility readily processes
between 3,000 and 5,000 pounds of
biomass per week into bulk and brand
packaged flower as well as dozens of
products that rely on cannabis derived
oils, terpenes, boutique concentrates,
and active intermediates
current indoor cultivation and
production space with proposed
addition of up to 45k square feet
of state-of- the-art commercial
kitchen and manufacturing space
for edibles, beverages, topicals,
and more
and counting with industry
leading brand and
distribution strategy led by
cannabis industry pioneer
GREENHOUSE FACILITY
PRODUCTION FACILITY
14
400K 55K 25K 15+
LARGEST COMMERCIAL CULTIVATION & PRODUCTION FACILITY IN NEVADA

15. 15
Pounds annual
production
Average cash
cost / gram
Years of large scale
greenhouse excellence
Cannabis strains
100-110K+ $0.44 25+ 150+
Cultivation
$0.44 cash cost per gram as of
March 9, 2020 / Source: Intro-Blue
Image: June 2019

16. 16
Industry Leading Cultivation Yield Performance
Crop Yield (Grams per Square Foot)
Flower One Holdings
OrganiGram Holdings
Aurora Cannabis
The Supreme Cannabis Company
Canadian LP Average
Cronos Group
Canopy Growth Corp.
HEXO
Emerald Health & Village Farms
230
230
125
114
100
95
94
84
72
Source: Intro-Blue, March 9, 2020

17. 17
Industry Leading Cash Cost Per Gram Performance
Harvested Cash Cost Per Gram ($USD/g)
Flower One Holdings
OrganiGram Holdings
Aurora Cannabis
Aphria
Canopy Growth Corp.
0.44
– 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60
0.50
0.64
1.07
1.59
Source: Intro-Blue, December 11, 2019

18. 18
Ethanol, LPG and CO2 Finest full spectrum
oils, distillates, and
finished products
Commercial scale distillation
capacity; throughput
sufficiently sized to handily
meet all internal needs
Scientists, engineers and
cGMP manufacturing
professionals
50kg+
Multiple
Capabilities
Superior
Refinement
Top
Talent
Extraction

19. 19
Finished Goods
Economics
15-25 lbs of cannabis =
1 liter of oil
20 lbs of cannabis costs
Flower One $3,992
Cash cost per gram: $0.44
1 Liter of Distillate Oil
$3,992 Average Raw Product Cost
2,000
0.5 gram vape cartridge
Vape Cartridges
to make
$10-$19
Wholesale price per
0.5 gram cartridge
$20,000-$38,000
Wholesale packaged products
10,000
100 mg gummy
Gummies
to make
$8-$10
Wholesale price per
100 mg gummy package
20,000
50 mg RDT QuickStrip
QuickStripTM
to make
$6
Wholesale price per
50 mg strip pack
$120,000
Wholesale packaged products
“or” “or”
$80,000-$100,000
Wholesale packaged products

20. 20
Exclusive partnership with
#1 Design build firm in
U.S in food and beverage
Square feet of state-of-
the-art Production
Square feet commercial
kitchen planned for 2020
Diverse product offerings,
contract manufacturing,
white label solutions and
biomass at scale
25K-50K
Dennis
Group
Product
Capabilities55K
Manufacturing
& Production

21. 21
Top selling brands from
California and beyond
95%+ Dispensary
Penetration
Launch campaigns,
in-store activations
and customer loyalty
Dispensaries preserve
working capital
Leading Brand
Portfolio
Established Retail
Partnerships
Localized Sales &
Marketing Experts
Just-In-Time
Delivery
Distribution, Sales & Marketing

22. 22
Brand Partnerships
LAUNCHED
COMING SOON

23. 23
Our Leadership Team
Ken Villazor
President & CEO
20 Years of corporate affairs experience
andhas heldsenior positions withmultiple
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.
Geoff Miachika
Chief Financial Officer
Chartered Professional Accountant with
over a decade of experience as a Senior
Manager at KPMG with extensive public
company accounting and finance
experience. Audit, compliance and
governance experience with global
companies.
Salpy Boyajian
VP of Operations - Nevada
Founder of NLVOrganics, oneof Nevada’s
first cannabis companies that was
subsequently acquiredby Flower Oneand
servedas its entry point totheNevadamarket.
Serial entrepreneur andoperator whohas
launchedseveral other successful businesses.
Has overseenFlower One’s Nevada
operations frombeginningtopresent.
Dillon Kass
Regulatory & Compliance
Certified geologist with 15 years
of professional environmental and
regulatory compliance experience.
Specialist in licensing and permitting
throughout all levels of government with
extensive experience in the
highly regulated California and
Nevada markets.
Thomas Rosengren
Director of Extraction & Production
Mr. Rosengrenis primarily responsiblefor
theimplementationof data-driven
methodologies toimprovequality andyield
of extractedproducts for Flower One.
Successfully leveragingLEANandSix-Sigma
methodologies, Mr. Rosengren’s strategies
reducerisk, wasteandturnaroundtimes,
leadingtoimprovedlife-cyclesustainability,
quality, andmargins across cultivationand
extractionoperations.
Ricky Jefferies
Director of Post Harvest & Fulfillment
25 years experience in world-class
operations – ranging from 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
Mr. Rodarte is one of Flower One’s lead
growers and an instrumental part of the
cultivation team. Mr. Rodarte’s day-to-day
responsibilities include ensuring the overall
health of Flower One’s plant material. This
includes managing activities including, but
not limited to, cloning, light recipes, climate
control, irrigation, fertilizers, and general
oversight of the entire life cycle of the plant
from seed to shelf.

24. 24
Board of Directors
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 also spent more
than 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 green field 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 ten-year tenure 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.

25. Contact
Ken Villazor, President & CEO
Toronto, ON
E kvillazor@flowerone.com
Kellen O’Keefe, Chief Strategy Officer
Los Angeles, CA
E kellen@flowerone.com
Geoff Miachika, Chief Financial Officer
Vancouver, BC
E gmiachika@flowerone.com
Media & Investor Inquires
NATIONAL Capital Markets
Toronto, ON
T 416.848.9835
E ir@flowerone.com
ADDO Investor Relations
Los Angeles, CA
T 310.829.5400
E ir@flowerone.com