EMERALD HEALTH THERAPEUTICS

C S E : E M HO T C Q X : E M H T F

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INVESTOR PRESENTATION

DisclaimerThe statements made in this presentation may include forward-looking statements regarding the future operations, opportunities or financial performance of emerald health therapeutics (the “company”). Forward looking statements include the estimated increase in the company’s production square footage; increases in the company’s production; the legalization of recreational cannabis; the size of the medical cannabis market and the recreational cannabis market; the company’s expansion goals including scalability, increases in square footage, production and revenue; the company’s position in the cannabis market in respect of demand and competition; the company becoming a leading brand in cannabis-based products; and the company’s near to long term goals including increases in patient acquisition, facility expansion, clinical trials and product development as well as market capture, revenue and consolidation of the cannabis market.

These forward-looking statements are only estimations based upon the information available to emerald health therapeutics, as of the date of this presentation. Except as required by law, we expressly disclaim any responsibility to publicly update or revise our forward-looking statements, whether as a result of new information, future events or otherwise. Thus, the forward-looking statements herein involve known and unknown risks and uncertainties such that actual future operations, opportunities or financial performance may differ materially from these forward-looking statements.

DisclaimerThe statements made in this presentation may include forward-looking statements regarding the future operations, opportunities or financial performance of emerald health therapeutics (the “company”). Forward looking statements include the estimated increase in the company’s production square footage; increases in the company’s production; the legalization of recreational cannabis; the size of the medical cannabis market and the recreational cannabis market; the company’s expansion goals including scalability, increases in square footage, production and revenue; the company’s position in the cannabis market in respect of demand and competition; the company becoming a leading brand in cannabis-based products; and the company’s near to long term goals including increases in patient acquisition, facility expansion, clinical trials and product development as well as market capture, revenue and consolidation of the cannabis market.

These forward-looking statements are only estimations based upon the information available to emerald health therapeutics, as of the date of this presentation. Except as required by law, we expressly disclaim any responsibility to publicly update or revise our forward-looking statements, whether as a result of new information, future events or otherwise. Thus, the forward-looking statements herein involve known and unknown risks and uncertainties such that actual future operations, opportunities or financial performance may differ materially from these forward-looking statements.

These risks and uncertainties relate to, among other things, changes in laws, regulations and guidelines relating to medical cannabis and the possible legalization of cannabis by the federal government; changes in government; changes in governmental policy; the continued availability of capital financing and general economic, market or business conditions; reliance on management; the inability of the company to expand its current facility or obtain additional facility space; failure to obtain approval by health Canada for the company to increase production and production square footage; unfavorable publicity or consumer perception of the medical cannabis industry; the impact of any negative scientific studies on the effects of cannabis; the growth in the medical and recreational cannabis markets being less than anticipated; increased competition in the market place; the company’s ability to meet its near and long-term goals; and the company’s ability to retain a competitive advantage if cannabis is legalized as well as the risk factors set out in the company’s annual information form and other publicly filed disclosure documents. Undue reliance should not be placed on forward looking statements, which speak only as of the date hereof.

All forward-looking statements contained herein are qualified in their entirety by the foregoing cautionary statements. Reliance should not be placed on forward looking statements, which speak only as of the date hereof.

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SUPPLY & PRODUCTION

Emerald Health Therapeutics

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CANNABIS 1.0, 2.0 & 3.0PRODUCT INNOVATION

Emerald is a Canadian licensed producer of cannabis focused on creating new consumer experiences through the development and sale of differentiated, science-based recreational, medical and wellness-oriented cannabis products. At Emerald, we are passionate about improving people’s lives through innovation and product excellence.

Designing products to specifically meet the needs of our target markets.

Building distinct, diversified portfolio of innovative products based on science.

BRANDING & DISTRIBUTION

Building unique consumer-focused brands with Canada-wide distribution and international partnerships.

Access to self-sourced supply of cannabis from state-of-the-art, production facility and expert third-party suppliers

Strategic Initiatives...4

Improve overall cost structure

Optimize strategic partnership and JV agreements

Reshaped strategic plan and defined businesses/segments we intend to compete in

Develop science-driven, differentiated products for medical, recreational, and wellness use

Guiding principle that operational excellence will drive sustainable profitability

We have been focusing on key strategic initiatives to restructure and optimize the business and financial position for long-term success.

...With Transformational Steps and Outcomes5

NOTABLE IMPROVEMENT IN FINANCIAL PERFORMANCE

SIGNIFICANT PROGRESSIN KEY OPERATIONS

LAUNCH OF NEW BRANDS AND NEW VALUE-ADDED PRODUCTS

PROGRESS DELINEATING GO-FORWARD STRATEGY

Significant Reduction in Cash Usage and Improvement in Financial Operating Performance

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-21.1

-0.6

-6.7-3.9

-25

-20

-15

-10

-5

0

5

10

3Q19 3Q20

$M

Cash Flow & EBITDA

Cash flow (operating + investing)EBITDA (unadjusted/not including Pure Sunfarms EBITDA)

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OPERATIONS HIGHLIGHTS LOCATION SIZE

Distinctly Positioned Operating Assets

FUNCTION

ST. EUSTACHE

• Indoor cannabis production facility• Products for recreational & wellness segments• Quebec identity• Packaging, processing and pre-roll capacity• Craft strains

Québec 88,000 s.f.

VICTORIA SPECIALTY PROCESSING& MEDICAL CANNABIS HUB

BritishColumbia 10,000 s.f.

CULTIVATION/PRODUCTION

• Processing and selling cannabis products• Medical sales and customer service

GREATER VANCOUVER

RESEARCH & DEVELOPMENT BritishColumbia 10,000 s.f.

• Purpose-designed for R&D of new cannabinoid-based products

• Specific cannabinoid research licensing

Facilities: Cultivation/ProductionSt. Eustache, Quebec

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Facility• 88,000 s.f.• High-precision, craft-quality cannabis

cultivation• Automated packaging and distribution

Licensing• Standard Cultivation, Standard Processing,

pursuing new licensing to enhance capabilities

Grow Area• 21 grow rooms with separate, precision-

controlled micro-environments• 17 rooms for processing and packaging

Cultivation• Capacity: 5,000 kg annually

Facilities: R&DGreater Vancouver, BC

Facility• Designed for research and

development of new cannabinoid-based products

• Specialized equipment for pilot scale production

• Product testing capability in human subjects

• International government approvals to import and export for R&D purposes

Expertise• Multi-decade experience in

pharmaceutical and nutraceutical R&D, formulation, production, Q&A, and regulatory

Licensing• Cannabis Research, Controlled

Substances

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810Facilities: Specialty ProcessingVictoria, BC

Facility• 10,000 sq ft• Process and sell dried and value-added

cannabis products to medical customers, provincial/ territorial wholesalers, and authorized private retailers

• Medical sales & customer service

Licensing• Standard Cultivation, Standard

Processing & Medical Sales

Outsourcing• Leveraging specialized third-party

production and large-scale commercial production capabilities

Emerald ProductsExpanding product lines through new product development

Portfolio of high-quality cannabis products serves the Canadian adult-use and medical markets. Emerald continues to utilize its core competencies to develop its existing and emerging product portfolio.

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Conceptual adult use packaging shown

NEWSublingual Tablets

Dried Whole FlowerCannabis

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Our team of expert growers are focused on producing THC and CBD cultivars with optimal terpene profiles in a range of potencies.

Differentiation:Cannabis Oil

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Our newly formulated SYNCTM

cannabis oils offer unique combinations of flavour profile and terpenes

• Organic coconut oil base • Whole flower cannabis THC and

CBD extracts

Innovation: NanoemulsionFast Action Spray

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Nano-emulsion technology enables rapid, predictable onset and shorter duration of effects for greater control, discretion and predictability of experience

• Onset time: 10-20 minutes• Duration: 2-4 hours• Smoke-free and discreet• Unique natural flavor profiles

Innovation: Sublingual Tablets

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Ingestible tablet offers controlled 10 mg THC with Defined DoseTM and predictive action

• Onset time: 20-30 minutes• Offset: 90 minutes• Convenient and discreet• Sustainably-produced• Natural cherry and mint flavours• Launched in April 2021 in adult-use

retail channels in BC, MB, NL; AB imminent

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Brand Expansion: SouvenirTM

Premium craft brand

• High-potency, dried flower products grown and harvested with artisanal care and freshness

• Designed for Québec consumers

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Intellectual Property

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• Develop, license, acquire usable patents and other IP to support new cannabis 2.0 and 3.0 product concepts

• File broadly, pare down for commercial value

• 9 patents involving novel product formats, increased bioavailability, cannabinoids and other botanicals

• Progress: 1 licensed and 3 international filing stage

• Leverage intellectual property portfolio to drive international partnerships and market opportunities

Provincial approval to supply

Trusted Supplier

• Canada-wide distribution of Emerald branded cannabis products for adult-use and medical markets

• Provincial supply agreements covering ~97% of Canadian addressable market

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19Pre-rollsCanadian Market Growth Potential

Canadian cannabis retail sales trending up• 2020 retail cannabis sales: ~$2.6 B1, up 120% from 2019

• Q4 20 sales: ~$830 M, up 12% from Q3 20, and 47% from Q2 201

Legal cannabis market outpacing illicit market in Canada• Legal cannabis expenditure2: 60% (Q4 20) of total consumer

cannabis expenditure3 vs. 22% (Q4 18)

• Annual legal spending4 expected to hit $3.7 B in 20215

1Calculation based on Statistics Canada data total cannabis sales: Jan-2019 – Dec 20202Calculation based on Statistics Canada data final consumer expenditure cannabis (recreational + medical)3Calculation based on Statistics Canada data final consumer expenditure cannabis (legal market + illicit market)4Scotiabank forecast May 2020

Data adapted by Emerald Health Therapeutics based on Statistics Canada consumer expenditure data

Pursuing Emerging International Markets via Partnerships

Denmark, Sweden

Spain

Emerging markets are medical-centric, often require GMP certification, and require broad production expertise.

• Global medical market projected to reach USD 90.4 B by 20261

• STENOCARE A/S: Emerald cannabis oil being sold to Swedish medical patients under partnership established 4Q20

• Medical Plants SLU: 1 of 5 authorized medical cannabis producers in Spain. Provides access to European supply, with anticipated GMP certification, to serve legal cannabis markets in EU and other countries.

• Transferred listing from TSXV to CSE, providing flexibility to pursue US opportunities; first steps expected imminently

1 Research and Markets: Global Cannabis Market by Application

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Riaz BandaliChief Executive Officer & President

Management, Board and Advisory

Life sciences proven success. Building public companies. Developing IP portfolios. Leading agribusiness enterprises. Brand development. Investment & fiscal management. Operational excellence.

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Jenn HepburnChief Financial Officer

Capitalization22

Cash and Securities

Common shares o/s 206.2M1

Options, warrants, and RSUs 60.3M1

Common shares f/d 266.5M1

Convertible debentures $25M1

Cash $418K2

Market Valuation

$51.3M3

120/11/25 220/09/30 321/04/26 4TSX.V + OTCQX 520/11/24: Full payment of convertible debentures620/11/02: 60 M cash received at transaction close 720/02/09: Final payment: $19.9M + $621K in interest

Transactions Post 3Q 2020

Volume (3 month avg.)

690.1K4

• Repaid convertible debentures5

• Divestment of holding in Pure Sunfarms JV: $80.5M 6,7

C S E : E M HO T C Q X : E M H T F

Investor Relations

T: (800) 757 3536 Ext. #5Invest@emeraldhealth.ca

Thank you