Vext Science : Investor Presentation January 2023

Vext

(CSE: VEXT and OTCQX: VEXTF)

A growing, profitable operator based in Arizona

All references to currency in this Presentation are in U.S. Dollars.

Forward Looking Statements

This Presentation contains forward-looking statements that relate to the Company's current expectations and views of future events and should be read together with more detailed information and financial data and statements. This Presentation does not contain all the information you should consider before purchasing securities of Vext Science, Inc. (the "Company" or "Vext"). In some cases, these forward-looking statement can be identified by words

or phrases such as "may", "might", "will", "expect", "anticipate",

"estimate", "intend", "plan", "indicate", "seek", "believe", "predict" or "likely". Or negative of these terms, or other similar expressions intended to identify forward-looking statements. The Company has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, among other, things, statements relating to: the Company's expectations regarding its revenue, expenses and operations; the Company's expectations regarding timing of the completion of the construction and related construction costs; the Company's anticipated cash needs and its needs for additional financing; the Company's intention and ability to grow the business and its operations: including its ability to complete business development and integrate multi-state operations: the Company's expectations regarding harvesting of products and precut sales prices; expectations with respect to future production costs and capacity; expectations regarding our growth rates and growth plans and strategies; expectations with respect to the approval of the Company's cannabis license holders; expectations with respect to the future growth of its

medical and recreational cannabis services with license holders, and any commentary related to the legalization of adult-use, recreational cannabis and the timing related to such legalization, the Company's expected business objectives for the next twelve months. Forward-looking statements are based on certain assumptions and analyses made by the Company considering the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. In making the forward-looking statements included in this Presentation, the Company has made various material assumptions, including but not limited to (i) obtaining the necessary regulatory approvals; (ii) that regulatory requirements will be maintained; (iii) general business and economic conditions;

1. the Company's ability to successfully execute its plans and intentions; (v) the availability of financing on reasonable terms; (vi) the Company's ability to attract and retain skilled staff; (vii) market competition; (viii) the products and technology offered by the Company's competitors; and (ix) that our current good relationships with our suppliers, service providers and other third parties will be maintained. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that the actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, prospective purchasers of the Company's securities should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to several

known and unknown risks, uncertainties, assumptions and other factors.

The Company's forward-looking statements are based on the reasonable beliefs, expectations and opinions of management. Although the Company has attempted to identify important factors that could cause actual results to differ materially form those contained in forward-looking statement, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We do not undertake to update or revise any forward- looking statements, except as, and to the extent required by, applicable securities laws in Canada.

The Company's common shares (subordinated voting shares) have not been and may never be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any other securities laws. As a result, the common stock may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulations under the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws.

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Profitable Growth from the Southwest

Established footprint in Arizona - Transitioned to adult-use in early 2021 - expected be a $3 billion market by 20251

Recent announcement to double footprint by acquiring established vertical operations in Ohio - includes operating cultivation and manufacturing facilities along with two operating retail storefronts - expected to close in Q2 2023

Pipeline of accretive M&A opportunities - set to be a consolidation partner of choice

Management team with a proven track record of building and operating profitable multi-state manufacturing/distribution footprints - Vext has operated profitably since 20162

Best-in-class free cash flow generation

Officers and Directors alignment with shareholders: ~28.30% ownership3

1. MJBiz Factbook 2021.
2. Based on net profit after taxes.
3. Includes officers and directors, on a fully diluted basis.

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Vext's Current Footprint

CALIFORNIA - JOINT OPERATION (50%)

• Fully built-out mfg. facility
• Wholesale - Vapen products in market

NEVADA - SERVICE AGREEMENT

• Fully built-out mfg. facility

• Wholesale - Vapen products in market

ARIZONA

• Cultivation: 24,000 sq. ft. indoor canopy - building-out to 41,000 sq. ft.; 10 acres outdoor

• Manufacturing: Fully built-out mfg. facility
• Retail: 2 operating dispensaries in Phoenix
• Wholesale: Vapen on vast majority of 3rd party dispensary shelves

OHIO1

• Cultivation: An operating Tier I cultivation facility of up to 25,000 square feet with the potential to expand up to 50,000 square feet

• Manufacturing: An operating manufacturing facility

• Retail: 2 retail storefronts in Columbus and Jackson

• Wholesale: Vapen on 95% of dispensary shelves

KENTUCKY CBD - JV (50%)

• Fully built-out mfg. facility

• Wholesale - Vapen products in market

OKLAHOMA - JV (25% ownership; 50% economics)

• 10 acres outdoor cultivation

• Fully built-out mfg. facility

• Wholesale - Vapen products in market

1) Vext has entered into a definitive agreement to acquire Appalachian Pharm Processing, LLC, an Ohio limited liability company, together with its subsidiaries and affiliated companies, along with Buckeye Botanicals, LLC, an

Ohio limited liability company operating a dispensary in Jackson, Ohio operating under the name Buckeye	4
Botanicals. These proposed acquisitions are expected to close by the end of the second quarter of 2023.

Vertically Integrated Footprint in

Attractive Arizona Market

CURRENT FOOTPRINT		STRONG FINANCIAL PERFORMANCE1

					Q3 2022
Arizona - Fully Vertically Integrated			7.7M
		$
					Revenue
Two Operated	24,000		Fully built-out	$3.3M
Dispensaries	SQ. FT		manufacturing
of indoor
			facility	Adj. EBITDA
		cultivation

60%

Adj. Gross

Margin3

43%

Adj. EBITDA

Margin

TOP TIER OPERATOR

BEST-IN-CLASS CASH FLOW4

2022 YTD - 9 months to Sep 30th

Arizona is a growing

Vapen brand is one of Arizona's top performers - on vast majority of dispensary shelves in the state

Profitable since 20162

Management team with a proven track record of building and operating profitable multi-state manufacturing/ distribution footprints

$3.1M Operating Cash	11.2% CFO Margin4
Flow ("CFO")

limited license, adult-use state with a strong fundamental margin profile

1) "Adjusted EBITDA" and "Adjusted EBITDA Margin" 2) Based on net profit

are non-IFRS Financial measures. See Appendix	after taxes.
"A" for disclosure pertaining to these terms.

3)	Adjusted Gross Margin is defined as: Gross Margin	4) CFO is defined as Net cash (used in) provided by
	Before Impact of Biological Assets, adjusted for	operating activities, as outlined in the Company's financial
	one-time inventory fair value adjustment, divided	statements. CFO Margin is defined as CFO divided by
	by Revenue.	Revenue for 2022 YTD.

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