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Lexaria Bioscience Corp. LXX:CSE | LXRP:US

Drug Delivery Platform Innovator

Investor PresentationApril 2019

LexariaBioscience.com

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DisclaimerThis presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements.The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows,financing plans, business strategy, products and services, evaluation of medical marijuana projects, alternative health projects or products,and cannabidiol-fortified products or services for participation and/or financing, competitive positions, growth opportunities, plans andobjectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan,""estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions that are forward-looking statements. Suchforward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number ofrisks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statementsincluding, without limitation, foreign exchange and other financial markets; changes of the interest rates on borrowings; whether or not theCompany will be successful in executing its business plan in whole or in part; hedging activities; changes in commodity prices; changes inthe marketing or capital project expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitivedevelopments in areas in which Lexaria Corp. operates. These and other risks and uncertainties are more fully described in our periodicreports and other disclosure documents filed by Lexaria Corp. from time to time with regulatory authorities available on SEDAR atwww.sedar.com and on EDGAR at www.sec.gov, and the reader is encouraged to review these documents. Planned dates stated herein areestimates only, based on best information available. Dates are not assured and are subject to revision without notice. The Companyassumes no obligation, except as required by law, to update any forward-looking statement, whether as a result of new information, futureevents or otherwise. This presentation is not an offer to sell or a solicitation of an offer to buy securities of Lexaria Bioscience Corp. It is ashort summary of certain information for introductory purposes only and is not to be relied upon for investment purposes.

No statement within has been evaluated by the Food and Drug Administration, and no product or service is intended to diagnose, treat,cure or prevent any disease.

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Simple and cost effective

Increases bioavailability

Improves speed of onset

Masks unwanted taste

Drug Delivery Platform Innovator

Eliminates the need for sugar-filled edibles.

Equates that of less healthy

administration methods like

inhalation

Effects are felt within 10-20 min (vs. 60-120 min).

Easy to implement

DehydraTECHTM - Patented technology, Changing the way Active Pharmaceutical Ingredients (“APIs”) enter the body orally

Eliminates the need for sugar-filled edibles.

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Method of use &Composition of matter claims• Cannabinoids (CBD, THC)• Nicotine (and its analogs)• NSAIDs• Fat soluble vitamins

Multiple dosage forms - foods, liquid emulsions, tablets, capsules

50+ Patent Applications

10Patent Families

10Patents Granted

6 USA4 Australia

DehydraTECH™ Patent Portfolio

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NicotineNSAIDsVitaminsCannabis

Commercial Applications

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• Ingestible product formats of all types,•Enhanced palatability, speed of effectiveness and potency,•Viable and healthier alternative to smoking/vaping.

•Existing and new ingestible product formats,•Enhanced absorption performance for synthetics as well as natural fat soluble vitamins (A, D, K & E).

•Alternate means to formulate NSAIDs,•Higher bioavailability,•Lower input requirements,•Less burden on liver and kidneys (lower toxicity).

•World’s first ingestible nicotine products,•Alternative to smoking/vaping, gums and patches,•High bioavailability without first pass liver metabolism.

Estimated Global Market Sizes

Sources: ArcView Research & EuroMonitor

$13B $31B $60B $990B

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Cannabinoids | THC | CBD

Oral Delivery

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Cannabinoids: Entering the Blood Stream

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3 prominent ways cannabinoids enter the blood stream:

Inhalation High bioavailability (est. 30%)Harmful to Lungs

Sub-lingual (under tongue) Medium bioavailability (est. 16%)Foul taste

Oral – Gastrointestinal TractLow bioavailability (est. 3-5%)Sugar filled, to mask taste

DehydraTECHTM

transforms the way cannabinoids enter the

bloodstream through the Gastrointestinal Tract:

Fast ActingImproved Taste

Increased Bioavailability

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Consumer Shift Away From Flower

Market share for flower is eroding – even though the market is growing and prices are dropping.

66 62 59 54 44

34 38 41 46 56

2014 2015 2016 2017 Q1 2018

Colorado

54 44

46 56

Q1 '17 Q1 '18

Oregon

43 40

57 60

Jan '18 April '18

California

$372M

$4.94/g

Q1 2014 (Colorado) Q1 2018

Non-flower

Market share %

Flower

Source: colorado.gov bdsanalytics.com

$7.12/g

$150M

Apr May Jun Jul Aug Sept

Cannabis Oil 3734 4406 4124 4310 4391 4455

Dried Cannabis 2354 2310 2103 2151 2069 1755

37344406 4124 4310 4391 4455

Canada:Cannabis sold to clients during 2018 (kg)

In Canada’s tightly regulated market (with limited product

formats), consumers are moving away from smoking.

Source: canada.ca

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Cannabis Consumption Trends

Trend to limit dosage in

edibles

Trend away from smoking

Trend toward beverages &

edibles

DehydraTECH™Improves

cannabinoid absorption

DehydraTECH™Improves alternate

delivery methods

DehydraTECH™spans foods, beverages, nutritional supplements and more

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Cannabinoid Absorption - Clinically Proven

Double-blind90 mg dose

317% more CBD delivered ≤ 30 min.

Higher CBD delivery throughout entire study

Lower blood pressure, (95% CI; p=0.027)

Higher blood flow to the brain0

10

20

30

40

50

60

0 100 200 300 400

Pla

sma

con

cen

trat

ion

(n

g/m

L)

Time (min)

Plasma Concentration Comparison

TurboCBD™DehydraTECHTM

Control

European human clinical study:

A single 90mg dose of TurboCBDTM provided evidence of lower blood pressure; higher blood flow to the brain; faster delivery onset of CBD into the bloodstream; and larger quantities of CBD within the blood when compared to a single 90mg dose of generic CBD.

317% more CBD delivered≤ 30 min.

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Out-license to third-party partners High margin royalty modelExample licensees:Demonstration products

TurboCBD™ capsules ViPova™ teas

Distribution partnerships

Innovation & ResearchNew product development

Patent applicationsClinical trials

Business Model: Royalties & Sales

1906 New Highs (Colorado)

Hill Street Beverages(TSX.V:BEER )

Cannfections Group(Canada)

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Lexaria Nicotine

Oral Nicotine Delivery Forms

LexariaNicotineCo.com

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Nicotine: a smoke-free future?

NoNicotine edibles

due to nicotine’s inability to securely pass through the GI

tract without irritation.

Phillip Morris

pledges $1B to anti-smoking

1.1 billion smokers globally

7 million deaths/year globally

1 billion deaths expected this century

lowering nicotine in

cigarettes to non-

addictive levels

FDA Comprehensive regulatory plan to shift trajectory of tobacco-related disease,

death

Smoking is the world's leading

cause of preventable

death

“Ultimately, we want to

be in a position to stop selling cigarettes

entirely.”-- André Calantzopoulos,

Phillip Morris CEO, May 30, 2018.

World Health Organization (www.who.int)Foundation for a Smoke-Free World, Inc. (www.smokefreeworld.org)

British American Tobacco

to rapidly expand “next-gen products”

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Altria Group Inc.Funding Partner, DehydraTECH Licensee

Leading nicotine industry

participant

Patentedoral-based

delivery technique

Altria GroupLeader in authorized,

non-combustible, reduced-risk products.

Lexaria NicotineLeader in unique alternate gastro-intestinal delivery methods for orally-administered products.

Product development

for orally-administered

nicotine formats

Lexaria Nicotine• Majority-owned subsidiary of

Lexaria Bioscience,• Holds DehydraTECH license

rights for nicotine related use.

Altria Group• DehydraTECH licensee for oral &

non-combustible nicotine formats,• Ownership investment in Lexaria

Nicotine to fund further research.

Definitive Agreement signed January 15, 2019

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Completing the puzzle for Oral Nicotine Forms

Market needFDA – comprehensive plan to reduce smoking

Collaborative ResearchAltria Group & Lexaria Nicotine

to conduct animal & human studies

Altria Group - Strategic Funding Partner

Initial Funding: US$1 millionMilestone based: up to US$12 million

DehydraTECHTM

• Altria Group has licensed DehydraTECH to commercialize oral, non-combustible nicotine products,

• Exclusive license in the United States,• Non-exclusive globally,• Royalty-based payment structure.

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DehydraTECHTM: In vivo research

Study of 12 lab rats over 6 hour period showed560% more nicotine

delivered into brain tissueApril 17, 2018

Study of 40 lab rats, with focus on initial 15 minute

period after dosing.August 7, 2018

70% more

nicotine delivered overall

within first 15

min of study

(p=0.0004)

90%more

nicotine delivered at 10

minute mark

(p=0.044)

94%more

nicotine delivered over the

60 min study period(p=0.0086)

179% gain in the quantity of peak nicotine delivery

to the bloodstream relative to controls

Speed of onset is of particular importance when considering non-inhalation nicotine delivery formatsDehydraTECHTM delivered:

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Control DehydraTECH™ % Improvement(10 mg/Kg) (10 mg/Kg)

Nicotine: Blood-Brain-Barrier ResultsSignificant nicotine absorption increase across the Blood-Brain Barrier into brain tissue:

40 lab rat testAug 7, 2018

Testing at 1, 4, 8, 24 hrs.

12 lab rat test Apr 17, 2018

Maximum Brain Concentration (Cmax; ng/ g)

427 ± 66.5 1,260 ± 200 295%

Maximum Brain Concentration (Cmax; ng /g)

51.8 ± 30.4 290 ± 197 560%

Time to Cmax 4 hours 1 hour 400%

04Total Quantity in Brain Tissue (AUC; hr·ng/g)

5,881 ± 538 12,999 ± 1252 221%

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Key Executives

Serial entrepreneur involved in several private and public companies since the late 1980’s,

Extensive experience in the capital markets, corporate governance, M&A and finance.

Experienced executive in the pharmaceutical and bioscience sectors,Specialist in development of drug delivery technologies,Former President and COO of Helix BioPharma Corp. (TSX: HBP). Named inventor on multiple issued and pending patents. M.Sc. in pharmacology and B.Sc. in toxicology from the University of Toronto.

U.S. licensed patent attorney,Doctorate in Neuroscience (with concentrations in Pharmacology and Physiology), Over 15 years of experience providing patent services to clients that have ranged from small start-ups to some of the world’s largest pharmaceutical and biotechnology companies.

Co-Director for the Centre for Heart, Lung and Vascular Health, Canada,

Research Chair in Cerebrovascular Physiology and Professor, School of Health and Exercise Sciences,

Faculty of Health and Social Development at the University of British Columbia.

Chris Bunka

Chairman & CEO

John Docherty, M.Sc.

Director & President

Dr. Edward Ergenzinger

Chief Legal, SVP Innovation

Dr. Philip AinslieAdvisor

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Corporate Information

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One year stock chart – OTCQX:LXRP

Chris Bunka John Docherty Alex Blanchard

CEO President Manager Corp. Comm & IR

250 765 6424 905 439 5423 778 796-1897

Cbunka@lexariabioscience.com Jdocherty@lexariabioscience.com Ablanchard@lexariabioscience.com

Trading symbol: LXX:CSE, LXRP:OTCQX

Shares o/s: 77 m

Fully diluted: 86 m

Recent price: C$1.55 / US$1.15

Insider ownership: 15m (20%)

Fiscal year-end: August 31

Cash on hand (Nov ‘18) US$ 2.6M

Recent financing (Oct ‘18) US$1.5M (@ US$1.60/unit)

Lexaria Bioscience Corp. 100-740 McCurdy Road, Kelowna, BC, V1X 2P7