October 2018 CSE GLH OTCQB - GLDFF. Operating Headquarters: Portland, Oregon

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1 October 2018 Tickers: CSE GLH OTCQB - GLDFF Operating Headquarters: Portland, Oregon

2 Forward Looking Statements This presentation contains forward-looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, Forward-Looking Statements ). All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will, may, could or might occur in the future are Forward-Looking Statements. Forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements, and should be considered in conjunction with the cautionary statements and risk factors included in the Company s MD&A and Annual Information Form. Golden Leaf Holdings assumes no obligation to update any of these forward-looking statements or information. Non-GAAP Financial Measures This presentation may include the use of Adjusted EBITDA which is a non-ifrs financial measure that does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. All financial information presented is in US Dollars unless otherwise specified. 2

3 - OUR MISSION - To enhance all lives through cannabis 3

4 CULTIVATION What we have CANADA OREGON NEVADA CALIFORNIA Location Ontario Yamhill County Sparks San Jose 1 Annual Output (Lbs) ~616 ~2000 TBD TBD Type Indoor Greenhouse Indoor Indoor Status Operating Under Lease signed, Searching for construction buildout req'd location Est. go-live date Q TBD TBD PRODUCTION Location Ontario Portland Sparks San Jose 1 Active and Operating Under Construction RETAIL Extraction & Post-Processing Extraction & Post- Processing Extraction & Post- Processing Extraction & Post- Processing 1 Active and Operating 7 Stores 1 Store 1 Applications submitted 5 1 CONSULTING (Medical) Ontario 1 Subject to closing SCG acquisition Retail Franchising available in markets where GLH is limited from directly participating

5 Who we are CAPABILITY STRATEGIC THEME DESIRED OUTCOME RETAIL Create Fans Teach BRANDS PRODUCTS Global Brand Build trust MEDICAL (CONSULTING) CULTIVATION Best Products Safe and high quality PEOPLE Organizational Agility 1 Getting the right things done AND 2 Countries ~225 people PASSION Corporate Stewardship Culture / Giving back 1 Our people have expertise in Cultivation, Production, Retail, Supply Chain, Marketing, Sales, Finance, I.T. and Business Development

6 Millions Financial Highlights Revenue Track Record (last 5 quarters) Historical Revenue Growth Profile $4.0 $ CAGR $3.7 $3.0 $2.5 $3.1 $3.0 $3.2 $2.0 $1.5 $2.3 $2.1 $1.0 $0.5 $- Q Q Q Q Q Q Product Revenue 1 Q excludes a non-recurring $1.1M royalty payment

7 Our Strategic Priorities 1 Initiative Expand retail, products and cultivation in Top US and Canadian jurisdictions Outcome Revenue Growth 2 Drive to cash-flow positive in jurisdictions where we are established Margin Growth 3 Manage corporate costs responsibly EBITDA improvement 4 Expand digital presence in retail Enhance customer experience and optionality 5 Consolidate seed-to-sale tracking capabilities Industry-best data and compliance

8 North America Market Opportunity USD$75B USD$55B U.S. State USD$36B Legalization: 9 Adult Use USD$15B CAD$2B CAD$7B CAD$8B CAD$10B 30 Medical Projected mature Source: Canaccord Genuity United States Canada market See Disclaimers in the appendix to this presentation

9 Management Team 15 years of management and leadership in the cannabis industry.founder and former CEO of award-winning Chalice Farms William Simpson CEO Proven innovator in manufacturing, sales, marketing and retail Extensive background in Corporate Finance, Investor Relations, Accounting and Systems Implementations Senior leadership positions with large public multi-nationals in diverse industries incl, Pharma, Food & Beverage & Manufacturing Craig Eastwood CFO Holds a Bachelor of Science in Accounting from the University of South Africa and is a licensed CPA Strong consulting and sales experience engaging senior executives and stakeholders on best-fit solutions in the digital media and software arena, including Oracle Mike Genovese COO Former COO and managing partner of award-winning Chalice Farms Holds a Bachelor of Arts from UC Santa Barbara Over 3 decades of experience with product launches and building brands for large multi-nationals, serving in roles such as President, COO and Division VP Founder / CEO of Wutznxt, a strategic marketing & consulting firm Jeff Yapp CMO & Sales Holds a Bachelor of Business Administration from the University of Michigan and a Masters in Mgt from Northwestern University Tenured career as corporate general counsel for public and private companies Expertise in M&A, Financings and Restructuring/Reorganizations John Magliana Legal Counsel Business experience including equity and asset sales/purchases Led Golden Leaf through the decision-making in going public

10 Board of Directors Rick Miller Chairman of the Board Founder and Chairman of the Avamere Group, a multi-service group of companies providing independent living, assisted living, memory care, skilled nursing, and transitional care facilities. Founder of Rogue Venture Partners which invests primarily in Oregon-based entrepreneurs with funding and mentorship Serves of several prominent boards. Bob McKight Director Co-founded Quicksilver, served as President, CEO and Chairman of the Board since inception until Quicksilver grew from startup to large company with revenues of $2.5B Serves as consultant and ambassador. Manages the Quicksilver Foundation. On Board of Otis College of Art and Design Gary Zipfel Director John Varghese Director Michael Crooke Director Served as capital partner and board level advisor for start-up stage companies Worked with companies from a diverse array of industries including cannabis, options and high frequency trading, vertical green space appliances, trading mountain home design, commercial real estate, and marketing. Founder of JV Venture Partners Ltd, providing strategic and corporate advisory services to various clients. Held various roles in Business Development, as well as CEO and CFO, and most recently SVP of Corporate Development for Quarterhill. Is an active CA and CPA Professor of business strategy at Lundquist College of business at University of Oregon. Independent consultant to high-growth businesses on strategic issues, in particular, developing direct-to-consumer connection to brands. On the board of ForB and the Nantucket Project. Peter Saladino Director Alex Winch Director Founded BMF Washington, one of the largest producer/processors in Washington Has designed and developed turn-key marijuana facilities in Seattle & Washington Helped found Washington CannaBusiness Association which played a significant role in supporting the growth and evolution of the legal cannabis industry in Washington Brings more than 30 years of financial industry expertise, particularly regarding the capital markets in the U.S. and Canada Has previously held positions on various boards, including Thunderbird Resorts and Sunreports He holds a Bachelor of Science degree in Engineering Physics from Queen s University and is a CFA Charterholder

11 Capitalization table FINANCIAL INSTRUMENT # of Units Wgt Avg Conv Price 1 Gross proceed potential In the money 2 Basic Diluted Market Cap: 3 ~US$122.0M COMMON STOCK - Insiders 143,503, Public Float 439,375, TOTAL COMMON STOCK 582,878, No. of Licenses: 15 Avg share vol. 4 ~2.5M Headquarters: Portland, OR OTHER INSTRUMENTS - Warrants Range of 20c to $ ,760,948 CAD$0.39 $ 63,809,385 $ 1,231, Stock Options Range of 20c to $ ,328,056 CAD$0.30 $ 16,152,343 $ 6,840, Convertible Debentures 63,116,667 CAD$ FULLY DILUTED ISSUED & O/S 863,083,949 $ 79,961,728 $ 8,072, A small portion of these instruments are issued in USD 2 Not all Stock Options that are in the money have vested. 3 As of 10/9/ day average

12 Thank-you

13 Disclaimers Securities Laws This Presentation is for informational purposes and does not constitute an offer or a solicitation of an offer to purchase the securities referred to herein. Golden Leaf Holdings GLH shares have not been and will not be registered under the United States Securities Act of 1933, as amended. GLH expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained herein, (ii) any error, omission, or inaccuracy in any such information, or (iii) any action resulting therefrom. No Reproduction or Distribution The contents of this Presentation are not to be reproduced or distributed to any third party, including the general public or the media, without the express written consent of GLH. Market and Industry Data This Presentation includes market and industry data that has been obtained from third party sources, including industry publications. GLH believes that the industry data is accurate and that the estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, GLH has not independently verified any of the data from third party sources referred to in this Presentation or ascertained the underlying economic assumptions relied upon by such sources. Additional Information Additional information pertaining to GLH has been filed electronically through SEDAR and is available at or GLH s website at