Corporate PresentationJune 2015

This document contains forward-looking statements for the Company and its subsidiaries. These

forward looking statements, by their nature, necessarily involve risks and uncertainties that could

cause actual results to differ materially from those contemplated by the forward-looking statements.

The Company considers the assumptions on which these forward-looking statements are based to be

reasonable at the time they were prepared, but cautions the reader that these assumptions regarding

future events, many of which are beyond the control of the Company and its subsidiaries, may

ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially

from current expectations are discussed in the Company’s Annual Report and in the Company’s

Annual Information Form for the year ended December 31, 2014. The Company disclaims any

intention or obligation to update or revise any forward-looking statements whether as a result of new

information or future events, except as required by law.

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Forward Looking Statements

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• Better a Gud Knight than a bad one

• We never rest at Knight

• May you always have a Gud-Knight

• A Gud-Knight is Gud medicine

• Knighting wrong with making money

• Gud for Knight

• Fun things happen at Knight

• Gud Knight sleep tight

• Gud time had by all

• Gudluck Jonathan

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A Knight is Born

A Knight’s History and Overview

1 Gross proceeds from financings + Proceeds of Priority Review Voucher Sale converted to CADat 1:1.13 USD to CAD on November 19th, the day of the sale

• Founded by co-founder & CEO of Paladin Labs Inc.

– 19 years of consecutive record revenues

– Share price increased from $1.50 to $142 per share

– Market capitalization increased from $6 million to $3.2 billion

• Knight’s first day was on February 28th, 2014

– The day Paladin’s sale to Endo closed

– Knight initially owned by Paladin’s shareholders as consideration for Paladin sale

• Knight Therapeutics is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets

• Well poised for executing our growth strategy with $495 million of cash1 and a leadership team that delivered 19 years of consecutive record revenues

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A Knight’s Mission

To understand and serve the needs of Health Care professionals in specialty therapeutic areas through the development, licensing and commercialization of innovative products

Opportunology is our core specialty

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Growth Strategies

1. License of innovative pharmaceuticals

2. Acquire mature or “under-promoted” products from Big Pharma

3. Develop near-term, low risk/low expense products for the Canadian and global markets

4. Lend, on a fully secured basis, to life science companies in need, for interest and/or product rights

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Source of New Products

• Multinational pharmaceutical companies having non-promoted products

• Emerging specialty pharmaceutical companies with no presence in Canada or other smaller markets

• Biotech companies with products in late-stage trials who– Carve non-strategic markets, like Canada, off a global deal in order to

secure value, or

– Need cash and are willing to part with a non-strategic market

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Product Selection Criteria

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1 To be established based on initial product opportunities

Stage of Development

Product must be in Phase II, Phase III or approved in a foreign market

Leverage Existing Marketing Capabilities1

Product must be able to be sold through scalable distribution channels

Risk of FailureAgreement must be structured such that failure of the product will not cripple the company

Financial Return Risk must be commensurate with reward

Long-Term Licensing Strategy

• Knight to deploy up to CAD$130M in time-proven life sciences funds in order to:1. Generate LP returns and, more strategically,

2. Obtain preferential access to innovative pharmaceutical products from around the world for the Canadian market

• Investment designed to provide financial incentives to secure Canadian and international product rights, and source loan opportunities

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Life Science Fund Strategy Execution

• Knight will invest across a variety of complementary funds to get the broadest access possible to Canadian and select international product rights– Early stage to late stage (Sectoral)

– Focus: Global, European (Forbion) and North American (Domain, Sanderling)

– Direct and fund of funds investments (Teralys, HarbourVest)

• The expectation is that Knight will have a pipeline of innovative products 5 to 10 years from now larger than Merck and Pfizer combined, albeit just for Canada and select international markets, leveraging tens of billions of dollars in R&D

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Long-Term Licensing Strategy

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~150Companies

~$1B Funds

~100 FailedVentures

~50 Successful Companies

Knight invests $130M into..

Funds invest ~$1B into..

Other investors contribute ~$5B into..

Subsequent Rounds/IPO contribute ~$5B into..

~$10B+ in R&D benefiting Knight albeit just for Canada and select international markets

Leads to.. Products for Knight

Illustrative

Long-Term Strategy Investments

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Fund AmountHealthCare

AUMDevelopment Stage Geography

Sectoral US$13M US$3.6B Late stage to small cap Global

Forbion €19.5M EUR€400M All clinical stages Europe

Teralys C$30M CAD$450M VCAP Fund of Funds Canada

Domain US$25M US$2.4B Early stage North America

Sanderling US$10M US$900M Early stage North America

HarbourVest C$10M US$2.3B VCAP Fund of Funds Canada

TOTAL ~C$120M All stages Worldwide

TOTAL C$10M C$∞M All stages Worldwide

Remaining

Notable past investments by Knight’s partner funds

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Source: Investment Fund company websites

Knight’s Assets

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Impavido®(miltefosine)

• Partnership with Paladin globally excluding U.S.• U.S. FDA approval March 19, 2014

PHOTOFRIN®(porfimer sodium)

• Exclusive Canadian product rights• Health Canada approval

ATryn® (recombinant antithrombin)

• Exclusive Canadian product rights• Expected launch in 2016

NeurAxon family of products

• Safe and effective group of nitric oxide synthase inhibitors

FOCUSfactor®• Exclusive Canadian, Israeli, South African, Russian product rights• Health Canada approval• A clinically tested brain health supplement

Long Term Licensing Strategy

• Sectoral, Forbion, Teralys, Domain, Sanderling, HarbourVest

Secured Loan Strategy • Origin, Apicore, CRH, Synergy Strips, Pediapharm

Cash • $452 million1

1 Includes cash, cash equivalents and marketable securities (As at March 31, 2015)

Global United States

• Indicated for the treatment of cutaneous and visceral leishmaniasis

• Agreement between Paladin andKnight Therapeutics (Barbados) Inc.

• Approved for sale in 15 countries • Generic threat

• Indicated for the treatment of cutaneous, visceral and mucosal leishmaniasis

• Post marketing requirements underway• ~$1M per year early on and tapering

off over time

• Commercialization plan in development• Likely ~6 months away

Impavido Revenue Stream

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Expected annual revenue of $200-400k Expected annual revenue of $200k+

PHOTOFRIN®

• PHOTOFRIN (porfimer sodium) is a two-stage process belonging to a group of cancer-fighting medications known as antineoplastics

– It kills cancer cells by localizing the medicine in the tumor when activated by laser light

• Exclusive Canadian rights for sales and distribution of PHOTOFRIN

– Collaboration agreement with Concordia Health Corp. (TSX:CXR) who obtained worldwide rights through its acquisition of Pinnacle for total consideration $58M• Upfront payments include $32.7M million cash consideration and $5M of CHI’s common shares

– Already approved in Canada, US, EU5 and Japan• Concordia will market PHOTOFRIN in the U.S.

• Indicated for the treatment of esophageal cancer, endobronchial cancer, high-grade dysplasia in Barret’s esophagus and papillary bladder cancer

– Global clinical trial to evaluate PHOTOFRIN in cholangiocarcinoma commencing with Canadian sites• Potential to significantly boost sales

– 10 year collaboration agreement with renewal options

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ATryn®

• ATryn (recombinant antithrombin) is administered in a hospital setting to patients with hereditary antithrombin deficiency to avoid peri-operative and peri-partum thromboembolic events

• Exclusive license to sell ATryn in Canada (expected launch in 2016)

– 20 year agreement with rEVO Biologics

– Already approved in US and Europe for Hereditary Antithrombin Deficiency

– Seeking an initial indication for the prevention of peri-operative and peri-partum thromboembolic events in hereditary antithrombin deficient patients

– Potential upside if an additional indication is approved for the treatment of pre-eclampsia

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NeurAxon Acquisition

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• NeurAxon is a leader in discovering and developing next generation pain

therapeutics focused on the inhibition of neuronal nitric oxide synthase

(nNOS), an enzyme involved in modulating pain and central nervous

system neuronal sensitization

• NeurAxon holds multiple innovative products in various stages of

development that have a high probability of finding a profitable niche

• NeurAxon has total tax attributes of $74M that are expected to provide

Knight with deferred tax assets of $20.5M

• Deal: Knight paid $1.75 million and will provide additional capital to

further develop the technology

CRH: Better Lucky Than Smart!

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Dec. 2, 2014: CRH announces acquisition supported by fully secured loan

from Knight of US$30M at 10% interest. As consideration, Knight issued 3

million CRH shares which had been trading at ~CAD$1 per share.

Q1 2015: Knight sells its CRH shares for proceeds of ~CAD$9.9M.

Mar. 25, 2015: CRH raises CAD$27.4M of equity at CAD$3.40 per share

and repays US$7.9M of secured loan principal plus interest to Knight.

GUD: 36+% IRR anticipated from CRH loan

CRH: Stock price greater than 3x prior to loanFigures as of March 25, 2015

CRH Medical

• CRH (TSX:CRH) is a North American medical company focused on providing physicians with

innovative products and services for the treatment of gastrointestinal diseases

• CRH acquired a reliably profitable Southeast US-based anesthesia services provider for an

upfront fee of US$58.6M (3.6x EBITDA) and an earn-out of US$14.6M (0.9x EBITDA)

• The acquisition was funded via a senior secured loan from Knight, a sub secured loan from

Crown Capital, an unsecured loan from Bloom Burton, an equity financing, and CRH cash

• Deal: USD $30M secured loan that bears interest at 10% plus additional consideration and

matures in December 2016, or 2017 should CRH meet profitability milestones

• In consideration, Knight received 3,000,000 shares in CRH Medical

Apicore

• Apicore is a leading process R&D and API manufacturing service provider serving the

worldwide pharmaceutical industry from its plants in the United States and India

• A majority interest in Apicore was purchased for the aggregate amount of USD$22.5M by

Signet Healthcare Partners, Medicure, Knight and Sanders Morris Harris Inc.

• Deal: USD $6.5M secured loan that bears interest at 12% and matures in June 2018

• In consideration, Knight received warrants to acquire ~8% of the new holding entities

• Medicure has a 3-year option on Knight’s warrants for a pre-determined cash amount

Fully Secured Lending (1 of 2)

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SynergyStrips

• Synergy Strips (OTCQB:SNYR) is a US company focused on the health and wellness sector

• Synergy acquired FOCUSfactor, America’s leading brain health supplement

• Clinical test shows improvements in focus, concentration and memory

• Deal: USD $6M secured loan that bears interest at 15%1 and matures in June 2017, 2018, or 2019 at Synergy’s

option contingent on meeting certain revenue and profitability milestones

• Knight received 4,595,187 shares of Synergy representing ~6.5% fully diluted capital

• Knight also received a 10 year warrant for 3,584,759 shares at $0.34 per share

• Knight received the exclusive sales rights to FOCUSfactor and all of Synergy’s brands for Canada, Israel,

South Africa and Russia in exchange for COGS plus a supply profit

Origin Biomed Inc.

• Founded in 2001, Origin is a private Canadian consumer health products company with operations throughout

the US and Canada

• Origin’s lead product, Neuragen, is the first all-natural, non-prescription treatment for the rapid relief of nerve

related pain

• Deal: $850,000 secured loan

Pediapharm Inc.

• Pediapharm Inc. (TSX-V:PDP) is a Canadian pediatric pharmaceutical company

• Deal: $1.25M secured convertible debentures that bear interest at 12% per annum and mature in March 2019

• Knight was issued 757,500 share purchase warrants to acquire 757,500 common shares of Pediapharm

at an exercise price of $0.33 per common share

Fully Secured Lending (2 of 2)

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1Will drop to 13% if Synergy meets equity-fundraising milestones

Strong Balance Sheet to Fund Growth

Share Price1

Shares Outstanding2

Cash, Cash equivalents and Marketable Securities2

Revenue (2014)

Loss before depreciation, amortization, interest and tax (2014)

Net Income (2014)

$7.00

~93M

~$452M

$365K

($4,947K)

1 As at May 25, 20152 As at March 31, 2015

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$125.9M

Management Team

Jonathan Ross Goodman B.A., LL.B., M.B.A.

President & CEO

• Co-Founder, President & CEO Paladin Labs Inc.

Jeffrey Kadanoff, B. Eng., M.B.A.

Chief Financial Officer

• VP Strategic Planning and Development Reitmans (Canada) Ltd.

• Principal Bain & Company

Amal Khouri, B.Sc., M.B.A.

VP Business Development

• Novartis Global Business Development and Licensing

• Paladin Labs, Business Development

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Board of Directors

James Gale• Paladin Board member from 2008 to 2014

• Managing Director, Signet Healthcare Partners

Jonathan Ross Goodman • Paladin Board member from 1995 to 2014

• Knight President & CEO

Robert Lande • Paladin Board member from 1995 to 2014

• CFO Forex Capital Markets LLC

Ed Schutter • President and CEO of Arbor Pharmaceuticals, LLC

Sylvie Tendler• Pharmaceutical Market Research Consultant

• Founder of The Tendler Group Inc.

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1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Paladin’s Performance Over Time

Knight’s Objectives

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EBITDA

Revenues

Stock

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80

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SharePrice ($)

Revenue/EBITDA ($k)

Summary

• Proven ability to develop a rich pipeline of new

products in specialty therapeutic areas

• Proven ability to secure profitable licensing

agreements

• Proven track record of profitable growth

• Proven strategy

• Experienced and dynamic management team

• Financial strength to execute our strategy

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