Investor Presentation

Developing therapeutics for unmet medical needs in blockbuster markets, including a safe, non-addictive alternative to opioids

2

Disclaimer

Certain statements contained in this presentation constitute forward-looking statements. The words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”,“believe” and similar expressions typically are used to identify forward-looking statements. The use of forward-looking statements reflects our current views, expectations, estimatesand/or projections with respect to our performance, business and future events, and in this presentation includes statements relating to, among others: expectations regarding ourbusiness; expectations relating to our business goals, objectives and schedules; expectations regarding interactions with regulatory authorities; expectations regarding our pre-clinicalprograms and clinical development plans; and expectations regarding development of new intellectual property. Forward-looking statements are based on the then-currentexpectations, forecasts and assumptions about the business and the industry and markets in which we operate, including, among others: that there will be no unforeseen delays,disruptions, market forces, regulations or laws that will prevent us from operating our business; and that we will be able to obtain the capital we require. Forward-looking statementsare not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict, including, without limitation: that we may experienceunforeseen delays, financing difficulties or costs that will impact our projects, operations, financial performance or liquidity; that we will not be able to advance our business plan orcontinue operations; that we will not be able to protect our intellectual property; that we will not be able to recruit and enroll patients for clinical trials; that we will not be able tosuccessfully complete our clinical studies; that during clinical trials for products developed under our intellectual property may cause undesirable and potentially serious side effectswhich may delay or prevent regulatory approval, commercialization and market acceptance; that regulatory approvals of products developed from our intellectual property may resultin significant delays; and those risks relating to the occurrence of national disasters, hostilities, acts of war or terrorism, our reputation, our key personnel, competition, employeerelations, potential downturns in economic conditions, foreign exchange fluctuations, fluctuations in the currency markets, inflationary pressures, or changes in interest rates. Theserisks, as well as others, could cause actual results and events to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not placeundue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These statements speak only as of the date of thispresentation and we do not undertake any obligations to update such forward-looking statements, except as required by applicable securities law.

Market and industry data contained in this presentation is based upon information, surveys or studies conducted by independent third parties and independent industry or generalpublications and our knowledge of, and experience in, the markets in which we operate or intend to operate. We have no reason to believe that such information is false or misleadingin any material respect, however market and industry data is subject to variation and cannot be verified with complete certainty due to limits on the availability and reliability of rawdata, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey. This information has not been independently verifiedby us or any of our respective directors, officers or representatives and no representation is given as to the accuracy of any of the data from third party sources referredto in this presentation.

3

Overview

• Commercializing novel, patented, non-addictive endocannabinoid-boosting therapeutics.

• The therapeutics were developed at the University of California, Irvineand result from over US$10M in past R&D spending.

• Targeting significant unmet medical needs in multi-billion dollar markets.

• Supported by non-dilutive grant funding.

• Expects to be in clinical testing within 12 months.

• Managed by a team of experienced biotech executives and entrepreneurs.

Development stage pharmaceutical company targetingan out licensing or exit opportunity

Exxel Pharma is currently raising capital to run phase I clinical trials, list on the TSX Venture Exchange, and prepare for

an exit or out licensing opportunity

4

Our Therapeutic Solution: The Endocannabinoid System

The human endocannabinoid system (ECS) is biological system necessary for maintaining overall health and homeostasis.

The Endocannabinoid System functions throughout the body

The ECS impacts:• Pain• Mood• Anxiety• Appetite• Inflammation• Insomnia• Substance addiction

5

Endocannabinoid System: A Natural Opportunity

Anandamide promotes health through the cannabinoid receptors similar to CBD

and THC from cannabis

The Endocannabinoid System• The Endocannabinoid System (ECS) consists of

I. Endocannabinoids II. Cannabinoid receptorsIII. FAAH

• Endocannabinoids are natural signaling molecules that activate the cannabinoid receptors; where and when needed

• Cannabinoid receptors are found throughout the body (CB1 & CB2)

• FAAH is an enzyme that disposes of endocannabinoids after they have served their function

• The body’s natural endocannabinoid is called Anandamide

The body’s own cannabinoid

AnandamideThe name is taken from the Sanskrit word ananda which means "joy, bliss, delight", and amide, which refers to a classof chemical compounds.

6

Making the Endocannabinoid System Work for Everyone

Anandamide, THC and CBD promote therapeutic effects via the CB1 and CB2 receptors

Anandamide ü Therapeutic effectsü The body’s natural molecule has few side-effects

CB1/CB2 receptor

THC ü Therapeutic effects÷ Functional impairment (high), safety issues

CB1/CB2 receptor

CBD ü Therapeutic effects÷ Drowsiness, unknown drug-drug interactions

CB1/CB2 receptor

Unfortunately, the behavioral and psychoactive effects of THC and CBD cannot be separated from their therapeutic effects, which limits their therapeutic value.

7

Boosting Anandamide to Deliver Novel Therapeutics

Anandamide is disposed of by an enzyme named “FAAH”

• FAAH (Fatty Acid Amide Hydrolase) breaks down anandamide• Preventing FAAH from destroying anandamide boosts

anandamide’s therapeutic effects

FAAH inhibition is the mechanism behind Exxel’s therapeuticsFAAH enzyme

Anandamide

The therapeutic potential of blocking FAAH to boost Anandamide’s therapeutic effects is backed by comprehensive animal studies

8

Exxel Therapeutics: URB597 & URB937

Developed at University of California, IrvineProtected by issued patentsBacked by world-class science

Novel FAAH inhibitors: URB597 & URB937

URB597:• This therapeutic enters the Central Nervous System (CNS), enabling treatment of neurological disorders such as PTSD,

substance addiction, MS, anxiety and insomnia.URB937:• In contrast to all other FAAH inhibitors, this therapeutic is excluded from the CNS and brain which provides a unique

mechanism of action and superior pain management.

Therapeutic & Commercial potential backed by comprehensive animal studies, peer-reviewed publications, and awards of NIH and DOD funding.

9

Advantages of URB597 and URB937 over Cannabis

Small molecule therapeutics have multiple advantages over plant-derived cannabinoids.

SMALL MOLECULES CANNABISSynthetic Natural

Issued patents Not patentable

Safe/No side effects Causes functional impairment

FDA approval (Legal) Controlled substance

Easy dosage Inconsistent strength/effect

Known drug-drug interactions Potentially fatal/unknown

Doctor prescribed Self medication

The behavioral and psychoactive effects of cannabis products cannot be separated from their therapeutic effects.

10

URB937: An Endocannabinoid-Targeting Therapeutic to Replace Prescription Opioid Analgesics

Protected by issued and pending patents.

Therapeutic and commercial potential:• Acute and chronic pain, migraine headache, hyperactive bladder, wound healing.• The drug is positioned as a safe, non-addictive alternative to opioids.

An NIH grant was recently awarded to test URB937 as an opioid sparing therapy.

An NIH STTR grant was awarded to prepare the drug for a phase I trial.

The combination of animal data, patent protection and non-dilutive grant funding makes URB937a significantly derisked asset with high commercial potential.

11

The drug has broad therapeutic potential• PTSD, anxiety, depression, and opioid and other use disorders.

URB597: A Potential Therapeutic for PTSD and Substance Use Disorders

PTSD-focused R&D is sponsored by the US Department of Defence.

Exxel Pharma aims to start a first in man, phase I trial within 12 months.

URB597 was previously approved for a phase I clinical trial by Health Canada.

The combination of research data, prior regulatory approval, patent protection and non-dilutive grant funding supports the commercial potential of URB597.

12

PRECLINICAL DEVELOPMENT CLINICAL DEVELOPMENT

ExploratoryResearch

Lead Optimization and Selection

Pre-INDPackage IND Phase I Phase II POC

URB597 Program

2019 2020

URB937 Program

2019 2019 2020/2021

Development Pipeline

PTSD

Pain

Two-drug pipeline may be expanded with additional molecules from UC Irvine

13

Drug Development Milestones

Value Creation

Preclinical

Clinical

Approval

Advancing from preclinical to clinical development dramatically enhances the value of URB597 and URB937, and positions Exxel for an exit or outlicensing event.

Drug Development Life Cycle

Drug Design Target Identification Validation

Lead Discovery& Optimization

PreClinical Development Clinical Trails Approval

URB937 and URB597

Phase 1 Phase 2 Phase 3Completed

14

VC-backed Exits (M&A)

Exxel Pharma: Positioned for early exit

Time to exit & exit size are favorable

Trends in Healthcare Investments and Exits 2018

9

Oncology Leads New Biopharma Investments

Oncology72 deals$2,492M

Platform31 deals$871M

Anti-Infectives28 deals$610M

CNS25 deals$743M

Rare/Orphan20 deals$664M

Metabolic13 deals$354M

Auto-Immune8 deals$211M

Respiratory7 deals$248M

Ophthalmology8 deals$303M

GI5 deals$125M

Cardio5 deals$111M

Most Active* New VC Investments in Biopharma by Indication 2014-15

Oncology raised nearly 3X the dollar amounts of the next most active indication.

Anti-infectives jumped from #9 to #3 in total deals in one year, while rare/orphan and metabolic deals doubled. CNS, ophthalmology and oncology posted the largest average deal sizes.

*Most active defined as top 60 investors based on new investments Source: CB Insights, press releases, PitchBook and SVB proprietary data

23

Biopharma M&A Continues to Focus on Early StageVC-backed Biopharma Big Exits by Stage*, 2013 – 2017

*Stage defined as last completed clinical trial in most advanced asset.Source: PitchBook, press releases and SVB proprietary data.

Median Upfront ($M) 213 225 200 200 171

Median Total Deal ($M) 457 413 570 600 461

Median Years to Exit 5.6 4.0 4.2 5.9 3.5

The attractive IPO market in 2017 meant fewer M&A deals. Large private venture rounds raised in the past few years made it difficult for companies to accept early-exit offers while also maintaining robust multiples.

[A]: Half of biopharma big exit M&As were early stage (pre-clinical and phase I). For 2017, 36% of the big exits were pre-clinical, compared to 25% for the 2013 – 2017 cycle.

Buying early-stage companies allows big biopharma companies to replenish their pipelines. The five pre-clinical big exits in 2017 were acquired by large players Gilead, Merck, Celgene, Astellas and Bristol-Myers Squibb.

[B]: The median time to exit hit a record of 3.5 years from close of Series A. Six deals exited within three years, generating a 4.2x median upfront multiple on private capital invested (median deal value $250M). These deals provided tremendous returns to investors in a very short time.

1

57

252

3

4

8 24

4

99

52

1 1

3

1

1

1

2013 2014 2015 2016 2017

$7.0B

$8.0B

$16.6B $21.2B

$8.9B

A # of Big Exits

Phase IIIPhase IIPhase IPre-Clinical

Commercial

B

Trends in Healthcare Investments and Exits 2018

50% of recent of recent M&A deals were transactions at the pre-clinical or phase I stage.

The time to exit underscores big pharma’s appetite for innovative technologies and companies.

15

Comparable Pharmaceutical Companies with Cannabinoid-Type Drug Pipelines

COMPANY MARKET CAP PRODUCTS PRODUCT TYPE INDICATION(S) DEVELOPMENT STAGE FOUNDED

GW Pharmaceuticals* (NASDAQ: GWPH)

$4.72B Sativex, Epidiolex Plant cannabinoid therapeutics MS/Spasticity, epilepsy Phase III, Approved 1998

Insys Therapeutics* (NASDAQ: INSY)

$646MSyndros (Oral Dronabinol)

Synthetic and plant cannabinoidsWeight loss, nausea, vomiting, anorexia

FDA approved 1990

Axim Biotechnologies (OTCQB: AXIM)

$103M MedChew / CanChew Plant cannabinoid therapeutics MS/Spasticity, Parkinson's, Crohn's

Phase I, Phase II 2014

Corbus Pharmaceuticals (NASDAQ: CRBP)

$381M Lenabasum Synthetic cannabinoid Cystic Fibrosis, Sclerosis, Lupus Phase III 2014

Arena Pharmaceuticals* (NASDAQ: ARNA)

$1.97B Olorinab (ADP371) Synthetic cannabinoid Crohn's Phase II 1997

Cara Therapeutics (NASDAQ: CARA)

$756M CR701, CR845 Synthetic cannabinoid Neuropathic Pain Preclinical, Phase III 2004

Zynerba Pharmaceuticals (NASDAQ: ZYNE) $127M Zyn 002 Synthetic cannabinoid Fragile X, epilepsy Phase III 2007

Source: Yahoo Finance, 10.15.2018; “*” Indicates companies with multiple products on market/in pipeline.

Two companies formed in 2014 have cannabinoid-type drug candidates in early clinical trials and market caps of >$100M.

16

Opportunity & Markets

DISEASE FOCUS SEGMENT ESTIMATED MARKET SIZE

Pain Management(URB937)

Chronic pain $35.1B - 2017 (GBI Research)

Acute pain $14.2B - 2017 (GlobalData Healthcare)

Post-operative pain $5.9B - 2010 (GBI Research)

Neuropathic pain $3.6B by 2020 (Nature Reviews)

Diseases of the CNS(URB597)

PTSD $1.7B by 2019 (GlobalData Healthcare)

Substance use disorders $2.8 - 2013 (BCC Research)

Opioid use disorder $1.2B current (Seeking Alpha)

Anxiety and depression $18.3B by 2025 (Grand View Research)

Insomnia $5.5B by 2023 (Allied Market Research)

Estimated market sizes for diseases targeted by Exxel Pharma using FAAH inhibitors to boost natural endocannabinoid signaling.

Significant unmet medical needs and blockbuster markets can be addressed with drugs that inhibit FAAHand boost endocannabinoid signaling.

17

Management Team

Martin BajicCFO

Mr. Bajic holds a Bachelor of Arts Degree and a Diploma in Accounting from the University of British Columbia and is a member of the Chartered Professional Accountants

of British Columbia. He has over a decade of experience serving as a director, chief financial officer or consultant to numerous public companies trading on the TSX Venture

Exchange or the CSE with a focus in the resource and technology industries. His background as a CPA, CA provides the Company with the requisite skills necessary for financial

management and compliance with today’s complex regulatory reporting requirements.

Soren Mogelsvang, PhDPresident and CEO, Director

A biotech executive and entrepreneur with a track record in developing ideas, concepts and technologies into marketable products and companies. Dr. Mogelsvang

s the co-founder of several biotech companies, and has built and led privately funded and publicly traded companies. Recent positions he has held include President and CEO

of Peak Pharmaceuticals (OTC: PKPH); Co-founder and VP of R&D at Serpin Pharma, which is entering the clinical stage; Head of Cell Biology at ATCC; and Director of Laboratory

and Production at Affinity BioReagents. Dr. Mogelsvang has a PhD in Biochemistry (University of Cambridge, UK).

Daniele Piomelli, PhD, MD (h.c.) CSO

Daniele is an Italian-born American scientist. He studied neuroscience in New York City, with James H. Schwartz and Eric R. Kandel at Columbia University College of Physicians

and Surgeons (PhD, 1983-1988) and later with Paul Greengard at the Rockefeller University (Post-doc, 1988-1990). Two of his mentors (ERK and PG) received in 2000 the Nobel

Prize for their contributions to medicine. After working at the INSERM in Paris (1990-1995) and at the Neurosciences Institute in La Jolla (1995-1998) with Nobel Laureate

Gerald Edelman, he joined the University of California Irvine School of Medicine, where he is now Louise Turner Arnold Chair in Neurosciences and Professor of Anatomy and

Neurobiology, Pharmacology and Biological Chemistry. Daniele is scientific cofounder of Kadmus Pharmaceuticals, Thesan Pharmaceuticals and NeoKera.

18

Non-Executive Board of Directors

Guy YachinDirectorMr. Yachin is currently the CEO of Serpin Pharma Inc., a privately held, clinical stage Biotech Company in Virginia. Mr. Yachin is a serial entrepreneur who has served as CEO for numerous biomedical companies. His notable achievements include serving as the CEO of MGVS during collaborative funding with Teva Pharmaceuticals in 2009 and co-founding Chiasma Inc. which entered into a $600MM licensing agreement with Roche in 2013. He is the former CEO of Naiot Technological Center in Israel where he played an active role in establishing, managing and raising over $50M for over a dozen biomedical startup companies. As CEO of NasVax Ltd. he successfully led the company’s capital acquisition efforts on the public and private markets. Mr. Yachin has sat on the board of multiple companies including Orgenesis, Remon Medical Technologies, Enzymotec and NanoPass. He holds a BSc. and an MBA from Technion – Israel Institute of Technology.

Nitin KaushalDirectorMr. Kaushal is a Managing Director in the Deals practice at PwC Canada. Nitin has more than 25 years experience in the financial investing, life sciences, consumer health care, health care services and medical device industries. His experience includes board of directorships with pharmaceutical and health care companies. He has also held senior roles in investment banking, venture capital and consulting firms. Nitin has performed over 50 merger, acquisition, strategic advisory, and licensing assignments. He has been an advisor to many of the leading global pharma companies and has participated in capital market transactions raising in excess of $2Bn.

Nancy RetzlaffDirectorNancy Retzlaff is a seasoned biopharmaceutical executive with over 20 years of experience. She began her career in the pharmaceutical industry with Bayer Healthcare in Canada and has since has since held commercial leadership positions of increasing responsibility at Bayer US, Schering-Plough and Pfizer. She has also held senior level positions at two start-up biopharma organizations. Nancy brings a track record of leading successful product launches globally as well as in the US, Europe, Japan & Canada, and has led a number of high profile brands including Cipro, Remicade, Lyrica, Aricept and Eliquis. She has broad therapeutic expertise in pain, immunology, neurosciences, infectious diseases and cardiology. Her deep commercial experience spans early commercial development through to life cycle management. Nancy has also served as an advisor to global pharma as well as early start-up companies.

19

Summary & Value Proposition

Exxel Pharma is developing novel, non-addictive endocannabinoid-boosting therapeutics.

The Company has a focused strategy with clear,near-term, value-driving milestones.

Led by an experienced management team Industry data and comparables suggest ExxelPharma has significant near-term upside

Targeting diseases with significant unmet medical needs, representing blockbuster markets• Pain management, PTSD, Substance abuse.

The company aims to begin clinical trials in the next 9-12 months• Advancing from a development stage to

clinical stage company• Enhancing partnering, exit and outlicensing potential

Company positioned to advance from development to clinical stage within the next 12 months

On track to listing at the TSX Venture exchange in November of 2018

For more informationSoren Mogelsvang, PhDPresident and CEO Exxel Pharma, IncPhone: 720.261.1109Email: soren.mogelsvang@exxelpharma.com