Lexaria Bioscience : Corporate Presentation

Drug Delivery Platform Innovator

With Multiple Mainstream Applications

Investor Presentation

Q1 2023

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 www.sedar.comand 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 intended to diagnose, treat, cure or prevent any disease.

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Table of Contents

1.Lexaria At A Glance and Takeaways

2. Patented Technology and Benefits

1. Pipeline and Addressable Markets
2. Commercial Opportunities and Upcoming Milestones
3. APIs: CBD, Nicotine, and Other Pharmacuetical Areas of Interest
4. Lexaria Management, Directors, and Advisors
5. Financial Information
6. Investment Highlights

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Lexaria At A Glance and Takeaways 01

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Lexaria Bioscience At A Glance

• Lexaria's is a disruptive, patented drug delivery technology that is more effective at delivering Active Pharmaceutical Ingredients ("APIs") into the bloodstream and into brain tissue
• is applied to multiple ingestible product formats such as tablets, capsules, oral suspensions, mouth-melts and others
• Pharmacokinetic ("PK") studies shown to deliver higher quantities of APIs in less time:
• • Cannabidiol ("CBD") for hypertension
  • Oral nicotine for reduced-risk
  • Antiviral drugs for COVID-19 and other infectious diseases
• 28 patents granted and over 50 patent applications pending around the world for technology designed for fast acting, less expensive and more effective oral drug delivery*
• Investigational New Drug ("IND") enabling program underway for -CBDas a prospective registered treatment for hypertension with the U.S. Food and Drug Administration ("FDA")

*Based on subjective and objective clinical testing in 82 human volunteers with CBD, THC and nicotine formulations, in vivo animal testing in 316 rodents with CBD and nicotine formulations and hundreds of thousands of commercial
product servings of CBD and THC formulations by Lexaria's licensing partners.	5

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