Me MedMe Men i in F Florida (C (CSE: MMEN) N) Ju June 2018 - - PowerPoint PPT Presentation

1

Me MedMe Men i in F Florida (C (CSE: MMEN) N)

Ju June 2018

2

Mainstreaming Marijuana. Challenge everything. Settle only for what ought to be, not what is. Be state-of-the-art and best-in-class, utilizing institutional systems. Define the next generation

• f marijuana businesses and consumers.

3

Fully-integrated in California, Nevada, New York and Florida (1) Proven executive team with experience in cannabis Operating in oligopolistic, large markets, with first-mover advantage Robust operational and acquisition track-record across the supply chain Industry leading human capital with over 800 employees

Investment Highlights

Me MedMe Men is is th the la largest stpu publ blicly trade dedU.S U.S. . ca cannabis co company wi with ope

• peration
• nsac

across th the four ur most t si signi nificant nt ca cannabis opportunities in the he United St States.

(1) MedMen entry into Florida is pending completion of the acquisition

4

Re Retail Las Vegas Downtown Las Vegas (Q4 CY2018) Las Vegas Airport (Q4 CY2018) Cu Cult ltivation & Production Project Mustang Re Research ch & & D Development Nevada Genetics (Under Construction)

Best-in-Class North American Footprint

Re Retail Venice BeverlyHills Downtown LA SanDiego LAX* Abbot Kinney* West Hollywood* Orange County* Other (Pending) Other (Pending) Cu Cult ltivation & Production Desert Hot Springs (Under Construction) Sun Valley*

Ca California Ne Nevada

Re Retail Manhattan (Fifth Avenue) Long Island Syracuse Buffalo Cu Cult ltivation & Production Utica

Ne New York Ma Massachusetts –Pe Pending g (1

(1) * MedMen has a management contract with these locations and does not own the underlying license. Note: Locations in Downtown Las Vegas and Las Vegas Airport currently in the process of being acquired and expected to be open in 2H CY2018. (1) MedMen is currently in the process of applying for a license in Massachusetts. The Boston / Fenway Park retail location has been secured; remaining retail and cultivation / production locations in are in the process of being identified Pl Planned Retail Boston (Fenway) Cambridge Greater Boston Pl Planned Cultivation & Pr Production Greater Boston Pl Planned Retail South Beach Miami Key West Palm Beach Fort Lauderdale Orlando Tampa Jacksonville + Others Pl Planned Cultivation & Pr Production Greater Orlando

Fl Florida

Th Through its existing set of assets, Me MedMe Men ex expec ects to hav ave e ~45 ret etai ail stores es an and fi five e lar arge-sc scale le cu cultivation and product ction faci cilities acr cross the he U.S.

• S. by 202

020. 0.

Ca Canada

Joint Venture:

5

MedMen Acquires Treadwell Nursery

§ Treadwell Nursery was awarded a license in August 2017 and is one of 13 current Florida Medical Marijuana Treatment Centers , or “MMTCs.” § One of two license holders strategically located in Central Florida's Greater Orlando area, and best situated to service the entire state from a distribution standpoint. § Transaction includes purchase of five acres of land and existing greenhouse and production facility in Greater Orlando. § Upon closing of the transaction, MedMen to develop ~100,000 square-foot cultivation and production facility with high-tech Dutch greenhouse, with capacity to produce over 20,000 pounds annually. § Total consideration of US$53 million, US$26.5 million in cash to be paid over nine months (1) and US$26.5 million satisfied in MedMen shares. § Deal expected to close in the third or fourth quarter of calendar 2018.

Me MedMe Men is is pleased to to announ unce th the acquis uisitio ition of Treadwell Nur

• ursery. The tr

transactio tion is is pendin ing cu customary regulatory approvals.

(1) MedMen to pay US$6,625,000 in cash at closing. In each of the 3-month, 6-month and 9-month anniversary of the closing date, MedMen would pay an additional US$6,625,000 in cash

6

State of Florida by the Numbers

US US$1 $1.4 b 4 billion 21 21 m million 117 117 milli llion

• n

19 19% 10 100,000+

§ Es Estimated medical sales by 2021 (1

(1)

§ To Tourists that visited Florida in 2017 7 (3)

(3)

§ % % of

• f Flor
• rida

da resi side dents s aged d 65+ (U.S.

• S. average of
• f 15

15%) %), which is is hig ighest t in in th the U.S. (4

(4)

As As the third most populous state in the U.S. with an attractive demographic profile, Florida re repre resents a high ghly ro robust cannabis ma marke rket

(1) Arcview (2) U.S. Census Bureau. (3) Tourism Marketing Corporation for the State of Florida. (4) Kaiser Family Foundation. (5) Florida Department of Health.

§ Cu Current m medical m marijuana p patients i in F Florida (5

(5)

§ To Total population in the state of Florida (2

(2)

7

Florida Medical Marijuana Highlights

ü Re Regulated Oligopoly: Only 13 total Medical Marijuana Treatment Centers currently in the state. ü Ro Robust Medical Program: Qualifying conditions include chronic pain, cancer, epilepsy, HIV and glaucoma. ü St Stron

• ng Retail Market:

: Each license holder allowed to open up to 25 dispensary locations. ü Fi Firs rst-Mo Mover A Advantage: Only 39 operational retail dispensaries locations to date out of 325 currently allowed across existing license holders. (2) ü De Demographic ic Al Alig ignment: t: Demographic profile and tourism strength fits well with MedMen’s retail strategy.

19,494 26,968 36,441 43,366 50,775 56,537 65,310 74,133 83,503 95,460 106,348 117,522 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18

Fl Flori rida a Pat atient ent Count nt (1

(1)

~ 6 ~ 6 x x P P a a t t i i e e n n t t G r G r

• w

w t t h h

Fl Flor

• rida

da vot

• ters legalized

d medi dical cannabi bis in 2016 with a 71% % appr pprov

• val

(1) Florida Department of Health. Reflects June 22, 2017 thru June 1, 2018 Florida OMMU weekly updates (2) Florida Department of Health as of June 6, 2018

8

MedMen Retail Roll-out

Q1 Q1’20 2019 Q2 Q2’20 2019 Q3 Q3’20 2019 Q4 Q4’20 2019 Q1 Q1’20 2020 20 Planned Retail Locations 3 6 15 20 25

§ First dispensary expected to open in early-2019 with 25 expected openings over next 18 months. § Retail strategically located across the state to serve MedMen’s target demographic. § MedMen is currently in lease / purchase negotiations for a number of locations across the state .

Me MedMe Men p plans t to e execute i its r retail s strategy a across t the s state b by o

• pening s

stores i in p premium l locations su such as s Miami, Orla land ndo and nd Palm lm Beach

Tier I Locations

Ke Key Hig ighlig ights ts

9

Florida Addressable Market

Fl Flori rida – Me Medic dical Ma Marij ijuana P Prog

• gram

To Total State Revenue – 20 2021 21 (1

(1)

~$ ~$1.4 billi llion # Licenses – Statewide 13 Stores/License 25 Total Stores 325 Av Average An Annual Revenue/S /Sto tore ~$ ~$4 milli llion

Note: MedMen is not making any assumptions regarding the potential certainty and timing of recreational sales in Florida (1) Arcview. (2) U.S. Census Bureau, Kaiser Family Foundation. (3) U.S. Department of Health and Human Services. (4) MedMen internal estimate. (5) Tourism Marketing Corporation for the State of Florida. (6) Total stores assumes 25 stores per license holder

Fl Flori rida – Re Recreation ional P Prog

• gram E

Estim imate Population >21 (2) 16 million Estimated Usage Rate (3) 10.2% Estimated Annual Spend/Consumer (4) $1,200 To Total Annual Spend – Re Reside idents ~$ ~$2 billi llion Tourists – Annual (5) 117 million Estimated Usage Rate (4) 10% Average Spend/Consumer (4) $100 To Total Annual Spend – To Tourism ~$ ~$1 billi llion To Total State Revenue ~$ ~$3 billi llion Total Stores (6) 325 Av Average An Annual Revenue/S /Sto tore ~$ ~$10 milli llion

Fl Flor

• rida

da currently repr presents a ~US$1.4 bi billion

• n medi

dical market. Unde der a pot potential recreation

• nal environ
• nment,

sa sale les s could ld reach ~US$3 3 billi llion n annu nnually, lly, with an n average of US$10 milli llion n in n sa sale les s per retail l lo location

(all currency in USD) (all currency in USD)

10

Disclaimer

Ca Cautionary Note Regarding Forward-Lo Looking In Informati tion and Sta tate tements ts This presentation contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only MedMen’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of MedMen’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward- looking information and forward-looking statements contained herein may include, but are not limited to, information concerning the proposed acquisition, expectations regarding whether the proposed acquisition will be consummated, including whether conditions to the consummation of the proposed acquisition will be satisfied and whether the proposed acquisition will be completed on the current terms, the timing for completing the proposed acquisition, expectations for the effects of the proposed acquisition, the potential number and location of dispensaries and the timing thereof, the potential amount and location of cultivation and production operations and the timing thereof, the potential expansion of cultivation and production operations and the timing thereof, or the ability of the Company to successfully achieve business objectives, expectations regarding the Florida cannabis market, including any legalization of adult-use of cannabis in Florida, and expectations for other economic, business, and/or competitive factors. By identifying such information and statements in this manner, MedMen is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of MedMen to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this presentation, MedMen has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability to consummate the proposed acquisition; the ability to obtain requisite regulatory approvals and third party consents and the satisfaction of other conditions to the consummation of the proposed acquisition on the proposed terms and schedule; the potential impact of the announcement or consummation of the proposed acquisition on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the proposed acquisition. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although MedMen believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this presentation are made as of the date of this presentation, and MedMen does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to MedMen or persons acting on its behalf is expressly qualified in its entirety by this notice.