TILT : Investor Presentation – November 2023

Corporate Presentation

November 2023

NEO: TILT OTCQB: TLLTF

Caution Concerning Forward-Looking

Statements

This news release contains forward-looking information and statements under

applicable Canadian and U.S. securities laws which are based on current expectations.

Forward-looking information is provided for the purpose of presenting information about TILT management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information includes, without limitation, the expected performance of

the collaboration between TILT and its brand partners, anticipated development, timing and release of future product offerings, anticipated effect of new pricing on

future margins, expected timing for launch of dispensaries in Cambridge and Long

Island, the opinions or beliefs of management, prospects, opportunities, priorities,

targets, goals, ongoing objectives, milestones, strategies, and outlook of TILT, and includes statements about, among other things, future developments and the future operations, strengths and strategy of TILT. Generally, forward-looking information can

be identified by the use of forward-looking terminology such as "plans", "expects" or

"does not expect", "is expected", "will", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or

variations of such words and phrases or state that certain actions, events or results

"may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These statements should not be read as guarantees of future performance or results. These

statements are based upon certain material factors, assumptions and analyses that

were applied in drawing a conclusion or making a forecast or projection, including

TILT's experience and perceptions of historical trends, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as

other factors that are believed to be reasonable in the circumstances.

Although such statements are based on management's reasonable assumptions at the

date such statements are made, there can be no assurance that it will be completed on

the terms described above and that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. TILT assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of risk factors, many of which are beyond the control of TILT, and that may cause actual outcomes to differ materially from those discussed in the forward-lookingstatements. Such risk factors include, but are not limited to, those

described under the heading "Risk Factors" in Amendment No. 2 to the Form 10 Registration Statement filed by TILT with the United States Securities and Exchange

Commission and on SEDAR at www.sedar.com.

2

Non-IFRS Financial and

Performance Measures

In addition to providing financial measurements based on GAAP, the Company provides

additional financial metrics that are not prepared in accordance with GAAP.

Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and

to evaluate the Company's financial performance. These non-GAAP financial measures

are Adjusted Gross Profit, Adjusted Gross Margin, EBITDA and Adjusted EBITDA.

Management believes that these non-GAAP financial measures reflect the Company's ongoing business in a manner that allows for meaningful comparisons and analysis of

trends in the business, as they facilitate comparing financial results across accounting

periods and to those of peer companies. Management also believes that these non-

GAAP financial measures enable investors to evaluate the Company's operating results

and future prospects in the same manner as management. These non-GAAP financial measures may also exclude expenses and gains that may be unusual in nature,

infrequent or not reflective of the Company's ongoing operating results.

As there are no standardized methods of calculating these non-GAAP measures, the Company's methods may differ from those used by others, and accordingly, the use of

these measures may not be directly comparable to similarly titled measures used by others.

Accordingly, these non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

3

EBITDA, Adjusted Gross Margin and Adjusted EBITDA

Adjusted Gross Profit, Adjusted Gross Margin, EBITDA and Adjusted EBITDA are financial measures that are not defined under GAAP. The Company uses these non-

GAAP financial measures, and believes they enhance an investor's understanding of the Company's financial and operating performance from period to period, because

they exclude certain material non-cash items and certain other adjustments

management believes are not reflective of the Company's ongoing operations and

performance. The Company calculates Adjusted Gross Profit as Gross Profit plus non-cash inventory adjustments. The Company calculates Adjusted Gross Margin as Adjusted Gross Profit divided by revenue. EBITDA is calculated as EBITDA net income (loss), plus (minus) income taxes (recovery), plus (minus) finance expense (income), plus depreciation and amortization expense. Adjusted EBITDA is EBITDA excluding certain one-time,non-cash or non-operating expenses, as determined by management, including stock compensation expense, debt issuance costs and severance.

Our Mission

TILT provides innovative, unique, and cost-effective business solutions to its customers across the cannabis industry value chain. The Company's core mission is to help its customers build brands by offering unique products, solutions, and services that deliver added value to consumers, multi-state operators, and cannabis brands licensed around the globe.

4

At-a-Glance

YTD 2023 FINANCIAL RESULTS

$128.4M Revenue

20.7% Adjusted Gross Margin

$1.4M Cash Flow from Operations

5

Headquarters in AZ

Trades on the NEO exchange, and on OTCQB in

US

>350 employees

3 states operational (cannabis) - MA, PA, OH Vape sales in 15 countries and 39 states

1,000+ customers

#1 seller of CCELLTM vape technology

>300 dispensaries carrying our branded products

Leaning into TILT's Inhalation Expertise to Add Value for Cannabis Brand Partners

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As of Jan 2023, 60%+ of client base remains untapped for cross-sell opportunities

B2B Strategy: Bringing west coast brands east

WA

Inhalation		MT	ND
1	OR		MN
39 States , 15 Countries

ME

VT

NH

ID	SD	WI

NY

MA

R&D Labs			WY
		NE	IA
	NV
		UT		IL
			CO
Plant Touching	CA		KS	MO
3 States:	AZ		OK

MI

OH

IN

WV

KY

TN

PA

VA

NC

RI

CT

NJ

DE MD

MA, PA, OH	NM	AR
		MS

SC

AL GA

Cultivation & Production	LA
			TX
128,500 sq ft	FL
		Inhalation Hardware	AK
		Plant touching operations and Inhalation Hardware	HI
		1 Source Companyand State data

7

Outpaced our markets in 2022

Pennsylvania Massachusetts

Overall sales in PA	Outgrew the MA
were down 6% in
market, with state
2022, while TILT
sales up 8% from
expanded its revenue
2021 and TILT sales
by 17%
up 9%

Ohio

Significantly

outperformed the

market, with medical sales for the state up 23% while TILT grew revenue by over 10x

8	* Source: Company, State website data & BDSA

Despite the macroenvironment that we can't control . . .

we've made positive movement where we can control

The Brand Partner pivot started two years ago is starting to take shape

• Over $12M in brand partner revenue in 2022
• 6 brands signed in 2022; 9 total
• 9 brand market launches in 2022; 14 total
• Over 145 total product line SKUs currently active across all markets
• Brands have gone from 0 to ~50% of wholesale revenue over the past two years

Current Brand Partners

Coming Soon

Brands contributing to stability in an otherwise challenging market backdrop

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Our value proposition for cannabis companies

Wholesale Flower		Contract Manufacturing &
		Distribution Network.

Product Development

Hardware & Packaging

• Jupiter's distinct capabilities help leading inhalation brands expand into new markets through TILT's plant- touching footprint
• Contract manufacturing and distribution network provides brands with efficient access to limited license East Coast markets
• Cultivation assets provide access to biomass in supply- constrained markets
• Flywheel between hardware and plant-touching businesses increases TILT's value to partners
• Wholesale penetration in MA, PA and OH leading with brand partner products
• Innovative custom hardware / packaging solutions allows differentiation of products

10	1 Based on BDS, state data, and Company estimates.