Lexaria Bioscience : Corporate Presentation

Drug Delivery Platform Innovator

With Multiple Mainstream Applications

Corporate Presentation

May 2024

Lexaria Bioscience Corp.

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www.lexariabioscience.com

Email: [e-mail]

Disclaimer

This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 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, research and development, alternative health projects or products, clinical trials, regulatory approvals, competitive positions, growth opportunities, plans and objectives 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. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements including, without limitation, foreign exchange and other financial markets; changes of the interest rates on borrowings; whether or not the Company will be successful in executing its business plan in whole or in part; hedging activities; changes in commodity prices; changes in the marketing or capital project expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Lexaria Bioscience Corp. operates. These and other risks and uncertainties are more fully described in our periodic reports and other disclosure documents filed by Lexaria Bioscience Corp. from time to time with regulatory authorities available on SEDAR+ at http://www.sedarplus.ca/and on EDGAR at www.sec.gov, and the reader is encouraged to review these documents. Planned dates stated herein are estimates only, based on best information available. Dates are not assured and are subject to revision without notice. The Company assumes no obligation, except as required by law, to update any forward-looking statement, whether as a result of new information, future events 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 a short 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 yet commercially approved and intended to diagnose, treat, cure or prevent any disease.

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Table of Contents

1. Lexaria's Drug Delivery Platform Technology
2. DehydraTECH Pipeline and Market Investigations
3. DehydraTECH for Diabetes and Weight Loss
4. DehydraTECH for Hypertension
5. Management, Directors and Advisors
6. Financial Information
7. Investment Highlights

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Lexaria's Drug Delivery Platform Technology

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DehydraTECH - Lexaria's Drug Delivery Platform Technology

• Enhances the pharmacokinetic performance of Active
  Pharmaceutical Ingredients ("APIs") into the bloodstream and into brain tissue, increasing bioavailability, improving speed of onset and increasing brain absorption;
• Multiple ℞ applications in weight loss, diabetes, hypertension and others;
• Can be applied multiple oral/intraoral product formats such as tablets, capsules, oral suspensions, mouth-meltsand others, and also to topicals;
• Focused on commercialization through partnerships, licensing and internal development;
• Awarded 41 patents granted and many more pending around the world for use with a broad range of bioactive molecules.

2024 Catalysts:

GLP-1 (Diabetes/Weight Loss):

• April - Long Term Stability & Mode of Action Testing
• May - Human Pilot Study #2: GLP-1-H24-2
• May - Animal Study: WEIGHT-A24-1
• June - Human Pilot Study #3: GLP-1-H24-3
• July - Human Study: GLP-1-H24-4

Hypertension:

• FDA Investigational New Drug opening study HYPER- H23-1

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DehydraTECH Mechanism of Action

Dissolvable Orals

LCFAs are believed to block and shunt associated APIs away from bitter taste receptors for APIs that need flavor masking(1)

LCFAs influence permeability in the oral cavity(2) (i.e., sublingually and/or buccally)

Adjunct ingredients are added to enhance oral cavity permeability performance

Ingestible Solid Orals / Liquids

LCFAs influence gastric cholecystokinin production and motility(4)

Small intestine quickly absorbs LCFA- associated APIs into the bloodstream via the lymphatics bypassing first pass liver effect(5)

Adjunct ingredients added to enhance stomach or small intestine uptake depending on desired site of absorption

Enhanced brain absorption

Once absorbed systemically through dissolvable or solid oral form factors, LCFA-associated APIs are believed to enter brain preferentially through fatty acid transport proteins(3)

LCFA = Long Chain Fatty Acid

(1) Coupland & Hayes (2014). Pharm Res. Nov 31(11); 2921-2939(2)https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6321376/(3)https://onlinelibrary.wiley.com/doi/10.1111/j.1471-4159.2011.07245.x(4)https://www.gastrojournal.org/article/S0016-5085(99)70227-1/fulltext#back-bib2(5)Based on dynamic light scattering particle size evaluation studies conducted by Canada's National Research Council as announced July 16, 2020/https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3202979/pdf/nihms330214.pdf" .

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DehydraTECH - Patented Technology Potential Benefits

Patented drug delivery technology improves oral administration of Active Pharmaceutical Ingredients

Masks unwanted	Improves speed of	Increases	Increases brain	Reduces Drug
taste (1)	onset	bioavailability	absorption	Administration Costs

Eliminates the	Effects are felt in	Much more	Testing suggests	Higher ratio of
need for sugar-	minutes(2)	effective at	up to 17x	drug delivery
filled edibles		delivering drug into	improvement(4)	expected to lower
		bloodstream(3)		overall drug costs

Better Patient Experience

Improved Quality of Life

1. Based on subjective clinical testing in 29 human volunteers with CBD, THC and nicotine formulations and hundreds of thousands of commercial product servings of CBD and THC formulations by Lexaria's licensing partners.
2. Based on subjective clinical testing in 82 human volunteers with CBD, THC and nicotine formulations and hundreds of thousands of commercial product servings of CBD and THC formulations by Lexaria's licensing partners.
3. Based on objective clinical testing in 13 human volunteers with CBD formulations, and in vivo animal testing in 316 rodents with CBD and nicotine formulations

(4)https://ir.lexariabioscience.com/news-events/press-releases/detail/128/lexaria-issues-successful-results-from-first-2021-study	7

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DehydraTECH Pipeline and Market Investigations 02

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Past Work / Expansion Potential Active 2024 Programs

DehydraTECH Pipeline

Therapeutic /

Potential

Status

Identification

Modality

Formulation -->Animal PK -->

in vitro /

--> Human POC --> Registered Trials

Commercial Use

Indication(s)

Animal PD

DehydraTECH-CBD

Small Molecule

Cardiovascular

St. 1/2 Hypertension*

DehydraTECH-GLP-1/GIP

Peptide

Metabolic

Diabetes / Weight

Disorders

Loss Management

DehydraTECH-CBD

Small Molecule

Metabolic

Diabetes / Weight

Disorders

Loss Management

DehydraTECH-Nicotine

Small Molecule

Nicotine

N/A

Replacement

DehydraTECH-CBD

Small Molecule

Neurology

Seizure Disorders

2024 Objectives (red):

- HYPER-H23-1 Phase Ib

DehydraTECH-Antiviral

Small Molecule

Antiviral

HIV/Covid-19/etc.

IND Authorization and

Execution**

- Comprehensive series of

DehydraTECH-PDE5

Small Molecule

Cardiovascular

Erectile Dysfunction

animal and human acute

and chronic dosing GLP-1

DehydraTECH-Estradiol

Small Molecule

Hormone Therapy

HRT and Menopause

PK/PD/POC studies

PK = Pharmacokinetic

PD = Pharmacodynamic

POC = Proof of Concept CBD = Cannabidiol

CPG = Consumer Packaged Good product GIP = Glucose dependent insulinotropic

polypeptide

GLP-1 = Glucagon-Like Peptide 1 Agonists PDE5 = Phosphodiesterase 5

HIV = Human Immunodeficiency Virus

HRT = Hormone Replacement Therapy

*For the treatment of stage 1 or stage 2 hypertensive patients not adequately managed with existing treatments ** Pending Additional Funding

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Commercial Opportunities

• Lexaria management and directors have extensive experience in building relationships with
  "Fortune 500" companies
• Actively developing lead product pipeline candidates in the areas of:
• • GLP-1drugs/diabetes and weight loss
  • Hypertension and potentially heart disease
• Lexaria is currently engaged with other companies, exploring partnerships and opportunities with their specific APIs of interest
• Lexaria out-licenses its technology in exchange for up-front fees, milestone payments and/or royalty payments
• Lexaria is generating revenues now through the manufacture of corporate customer specified DehydraTECH formulations

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