Rubicon Organics : Corporate Presentation October 2023

Premium Brand Success

Fueled by Operational Execution

TSXV: ROMJ

OTCQX: ROMJF

Investor Presentation, September 2023

Disclaimer

This presentation is not, and under no circumstances is to be construed as, a prospectus, or advertisement or a public offering of securities of Rubicon Organics Inc. ("Rubicon Organics" or the "Company").

This presentation contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding Rubicon Organics' goal of achieving industry leading profitability are "forward-looking statements". Forward-looking information can be identified by the use of words such as "will" or variations of such word or statements that certain actions, events or results "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.

Risks and uncertainties associated with the forward looking information include, among others, information or statements concerning the Company's expectations of financial resources availability to fund operations; Rubicon Organics' limited operating history and lack of historical profits; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the Company's ability to obtain financing at reasonable terms though the sale of equity and/or debt commitments; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; that our current good relationships with our suppliers, service providers and other third parties will be maintained; and those factors identified under the heading "Risk Factors" in Rubicon Organic's annual information dated March 31, 2023 filed with Canadian provincial securities regulatory authorities. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those

anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

We have made numerous assumptions about the forward-looking statements and information contained herein, including among other things, assumptions about: optimizing yield, achieving revenue growth, increasing gross profit, operating cashflow and Adjusted EBITDA profitability. Even though the management of Rubicon Organics believes that the assumptions made, and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, changes in assumptions, new information or for any other reason except as required by law.

This presentation contains information obtained by the Company from third parties, including but not limited to market data. The Company believes such information to be accurate but has not independently verified such information. To the extent such information is obtained from third party sources, there is a risk that the assumptions made, and conclusions drawn by the Company based on such representations are not accurate.

An investment in the Company is speculative and involves substantial risk and is only suitable for investors that understand the potential consequences and are able to bear the risk of losing their entire investment. The Company is in the early stage of development and has a limited operational history, making it difficult to accurately predict business operations. The Company has limited resources and may run out of capital prior to becoming profitable. The Company may fail, and investors may lose

their entire investment. An investment in the Company may have tax consequences to the investor. The Company assumes no responsibility for the tax consequences of any investment. Investors should confer with their own tax advisors regarding an investment in the Company.

The production, packaging, labelling, handling, distribution, importation, exportation, licensing, sale and storage of cannabis products are affected by extensive laws, governmental regulations, administrative determinations and similar constraints which are beyond the Company's control. There can be no assurance that the Company is or will be in compliance with all of these laws, regulations, determinations and other constraints. Failure to comply with these laws, regulations, determinations and other constraints or new laws, regulations, determinations or constraints could lead to the imposition of significant penalties or claims and could negatively impact the Company's business. In addition, the adoption of new laws, regulations, determinations other constraints or changes in the interpretations of such requirements may result in significant compliance costs. This may have a material adverse effect on the Company's business, results of operations, cash flows and financial condition.

This presentation references certain non-IFRS measures including "Adjusted EBITDA" or "AEBITDA" and to certain operating metrics in the industry. Non-IFRS measures including industry metrics do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS.

Figures are presented in Canadian dollars, unless otherwise noted.

Corporate Overview

We are a Leader in the Canadian Cannabis

Sector Producing Premium & Super-

Premium Branded Cannabis Products

• Proudly delivering BC premium & organic certified cannabis nationally
• 3 flagship brands, prominent brand recognition in their segments
• Extensive distribution in largest Canadian markets: Ontario, Quebec, Alberta & BC
• Deliver gross profit with every product sold
• Focused on the lucrative & expanding premium market

Financial Highlights:

5 Consecutive Quarters

of Positive AEBITDA

4 Consecutive

Quarters

of Positive Operating

Cashflow

• Leveraging our own quality product by proactively shifting to highest margin products
• Experienced cannabis team with a track record of operating execution in cannabis
• Growth strategy built on the strength of our leading premium brand portfolio

Rubicon Organics at a Glance

2.0%						5.4%
Market						Premium Market
Share1						Share2
						22.5%
125,000 ft2
Hybrid Greenhouse						Topical market share4
in Delta, BC
$6.8 million						$5.1 million
Operating cash flow						Adjusted EBITDA3 for
for 12 mo. to Q2'23						12 mo. to Q2'23

$30 million

Market Cap

TSXV: ROMJ / OTCQX: ROMJF

+28%

On Q2'22 Net Revenue of $11.3M/Q2'23

1. Hifyre data for flower & pre-rolled products covering three months ending June 30, 2023 in Canada
2. Hifyre data for premium flower & pre-rolled products covering three months ending June 30, 2023 in Canada
3. Adjusted EBITDA is a non-GAAP measure that is calculated as earnings (losses) from operations before interest, tax, depreciation and amortization, share-based compensation expense, and fair value changes. See Appendix for details on the Adjusted EBITDA calculation. $5.1 million is the rolling 12- month AEBITDA to June 30, 2023
4. Hifyre data for topical products covering the three months ending June 30th, 2023 with 22.5% market share and #1 ranking

Budtenders rank 2 of our brands in their top 3 "Most Recommended" flower in Canada.

1Brightfield Group Canada Budtender Study 2023