Investor Presentation

June 2018

©2018 GW Pharmaceuticals plc | All Rights Reserved

Disclaimers
FORWARD-LOOKING STATEMENTS
This presentation contains forward-looking statements that are based on our management’s beliefs and
assumptions and on information currently available to management. Forward-looking statements include
information about our current expectations for future events, including potential results of operations, the timing of
clinical trials, the timing of regulatory filings, the timing and outcomes of regulatory or intellectual property
decisions, demand for our commercially available products and products in development and the clinical benefits,
safety profile and commercial potential of Sativex® and Epidiolex®. These forward-looking statements are subject
to known and unknown risks, uncertainties, assumptions and other factors that could cause our actual results,
performance or achievements to be materially different than any future results, performance or achievements
expressed or implied by the forward-looking statements. Forward-looking statements represent our management’s
beliefs and assumptions only as of the date of this presentation. You should read our most recent Annual Report,
as filed on Form 20-F with the Securities and Exchange Commission, including the Risk Factors set forth therein
and the exhibits thereto, and our subsequent filings with the Securities and Exchange Commission, completely
and with the understanding that our actual future results may be materially different from what we expect. Except
as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the
reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new
information becomes available in the future.

June 2018 GW Pharmaceuticals plc Investor Presentation 1

 GW’S VISION is to be the global leader in prescription
cannabinoid medicines, developing and commercializing
pharmaceutical products which address clear unmet needs

June 2018 GW Pharmaceuticals plc Investor Presentation 2

GW Pharmaceuticals

RESEARCH DEVELOPMENT COMMERCIALIZATION

19+ >500 person

years in-house
experience team
in researching and
with expertise in
developing novel Rx
bringing drugs to
cannabinoid medicines
regulatory approval in
US and ROW

• Epidiolex NDA & MAA applications

• 14 cannabinoids evaluated in pre-clinical
research
• >80 peer-reviewed publications
• Cannabinoids exported to >35 countries
for research
• >50 Phase 2/3 clinical trials accepted for review
• >55,000 patient-years of human safety • US commercial launch preparations
data well advanced
• Sativex® approved in >25 countries (ex- • EU commercial infrastructure build
US) for relief of MS spasticity ongoing
• Increased scale commercial
manufacturing in place for Epidiolex
launch

GW is a World Leader in Cannabinoid Science

June 2018 GW Pharmaceuticals plc Investor Presentation 3
Epidiolex® (cannabidiol or CBD)
Treatment-Resistant Epilepsy Overview
• Extensive CBD pre-clinical research since 2007 showing in vivo and in vitro efficacy
• Positive data from three Phase 3 placebo-controlled trials in initial target orphan indications of
Dravet syndrome and Lennox-Gastaut syndrome (LGS)
• Publication of Dravet Phase 3 trial results in The New England Journal of Medicine
and first LGS Phase 3 results in The Lancet
• NDA submission accepted for priority review with planned PDUFA goal date of June 27, 2018
• EMA submission accepted for review, expected decision in Q1 2019
• Novel mechanism of action in epilepsy
- CBD does not act through cannabinoid (CB) receptors or sodium channels
- Prime targets are GPR55 and adenosine reuptake, TRPV1
• Significant patient and physician interest with over 2,000 patients now treated with Epidiolex
• “Real-world” experience in Epidiolex use
- Data from >500 patients in compassionate use program show treatment effect and safety
across a range of severe epilepsy types
• Active lifecycle management plan, including additional target orphan indications
Epidiolex® (cannabidiol) is an investigational product and not approved for any indication in any country
June 2018 GW Pharmaceuticals plc Investor Presentation 4
Significant Unmet Need in Epilepsy
• 2.2 million US patients with epilepsy (~470,000 children)
- ~ One third of patients are pharmacoresistant with seizures persisting
despite multiple antiepileptic drugs (AEDs) 3
• Childhood-onset epilepsy
- Multiple distinct orphan syndromes, almost none with a specific indicated
therapy
- Many syndromes highly resistant to currently available AEDs
- Seizures continue into adulthood
• Dravet syndrome and LGS represent two of the most difficult-to-treat
epilepsy syndromes
- Multiple seizure types, developmental delay, high risk of SUDEP
- Highly refractory even with current medications, polytherapy generally
required Sources: Sander JW, Epilepsia. 1993;34(6):1007; Picot et al, 2008 ; Kwan P, Brodie MJ. N
Engl J Med. 2000;342:314-319; Kwan P, Brodie MJ, CNS Spectr. 2004;9(2):110

• Physicians seek new treatment options

- Majority of physicians not satisfied with current therapeutic options

Picot et al, 2008; Kwan P, Brodie MJ. N Engl J Med. 2000;342:314-319; Kwan P, Brodie MJ, CNS Spectr. 2004;9(2):110, Morgan Stanley research (2015)

June 2018 GW Pharmaceuticals plc Investor Presentation 5

The Epidiolex® Story: 3.5 Years from IND to NDA Submission
Q4 ‘12 Q2 ‘14 Q2-4 ‘15 Q2 2016 Q4 2016 Q2 2017 Dec 2017 Feb 2017 Q1 2018
First child FDA grants 3 Phase 3 LGS 1 AES: Dravet trial Epidiolex Epidiolex 2nd LGS
treated with GW IND studies in topline Dravet 1 results MAA MAA trial results
Epidiolex Dravet and results LGS 1 published submission accepted published
Formal GW LGS started in NEJM for review in NEJM
CBD and enrolled TSC Phase
development 3 trial started
program begins

Q1 ‘14 Q4 ‘14 Q1 2016 Q3 2016 Q2 2017 Oct 2017 Dec 2017 Jan 2018
EAPs Dravet 1 Dravet 1 LGS 2 AAN: Epidiolex NDA accepted LGS trial results
(Expanded Part A topline topline LGS 2 NDA for review: published in
Access started results results for Dravet mid-2018 The Lancet
#1 Programs) and LGS PDUFA
initiated

2,000
patients have been treated with Epidiolex
June 2018 GW Pharmaceuticals plc Investor Presentation 6
Epidiolex® Expanded Access Program
• FDA authorized, physician-sponsored expanded access AES 2017 – EAP Median % Reduction in Seizures
program (EAP) initiated in early 2014 All Patients with TRE

- Children and young adults with multiple etiologies, all with

Convulsive Seizures Total Seizures

treatment-resistant epilepsy
- ~20 physician site EAPs and 6 US state sponsored EAP
programs
- Over 1,100 patients approved for treatment by FDA
• Most recent EAP data presented in abstracts at AES 2017
- Long-term (96-week) Epidiolex safety and treatment effect data Patients with LGS and Dravet Syndrome Only
- All Children and Adults with Treatment-Resistant Epilepsies
(Bebin et al, 2017) Convulsive Seizures Total Seizures

- Patients with LGS & Dravet syndrome (Laux et al, 2017)

- For both convulsive and total seizures, median % reductions
and ≥50%, ≥75% and 100% responder rates were consistent
across all time points
- CBD was generally well tolerated, adverse events (AEs) were
consistent with those seen in previous pivotal and expanded
access reports
June 2018 GW Pharmaceuticals plc Investor Presentation 7
Epidiolex Clinical Program
Epidiolex® Phase 3 Program Overview
2015 2016 2017 2018 2019

Phase 3 (n=120) — Positive NDA submission

Dravet
accepted for
Syndrome Phase 3 (n=186) — Fully Recruited
Priority Review
GW Sponsored

NDA MAA PDUFA 27 June ‘18 PDUFA

Phase 3 (n=171) — Positive
Lennox-Gastaut
Syndrome Phase 3 (n=225) — Positive MAA submission
accepted Feb ‘18
with expected
Tuberous
decision in Q1
Sclerosis Phase 3 (n=210) — Recruiting
2019
Complex

>97% of
completers
Sponsored

continued into
Physician

Childhood
Epilepsy Ongoing Treatment Data from >1,000 patients — Other Epilepsies Open Label
Syndromes Extension

June 2018 GW Pharmaceuticals plc Investor Presentation 9

Phase 3 Dravet 1 Syndrome Trial Principal Efficacy Results

45 Convulsive Seizures 40 Total Seizures

p=0.0234
p=0.0052
40 p=0.0123 35 37
41
39
35 30 p=0.0335

Median % Reduction
Median % Reduction

30 29
25
25
20
20
15
15 16
13 10
10 10
9
5 5

0 0
Treatment Period Maintenance Period Treatment Period Maintenance Period
20 mg/kg/day CBD (n=61)
Placebo (n=59)

Source: J. H. Cross, O. Devinsky, L. Laux, E. Marsh, I. Miller, R. Nabbout, I. Scheffer, E. Thiele, S. Wright, Cannabidiol (CBD) reduces convulsive seizure frequency in Dravet Syndrome: results of a
multi-centered, randomized, controlled study, Abstract No 2.362, 2016, American Epilepsy Society Annual Meeting
June 2018 GW Pharmaceuticals plc Investor Presentation 10
Phase 3 LGS 1 (Single Dose Cohort) Trial Principal Efficacy
Results
Drop Seizures Total Seizures
50
60 p=0.0004
45
p=0.0005 45
p=0.0096 40
50 41

Median % Reduction
p=0.0135 49
Median % Reduction

35
40 44
30

30 25
20
20 22 15
20 15
10 14
10
5
0 0
Treatment Period Maintenance Period Treatment Period Maintenance Period
20 mg/kg/day CBD (n=86)
Placebo (n=85)
Source: E. Thiele, M. Mazurkiewicz-Beldzinska, S. Benbadis, E. Marsh, C. Joshi, J. French, C. Roberts, A. Taylor, K. Sommerville, Cannabidiol (CBD) significantly reduces drop seizure frequency in
Lennox Gastaut syndrome: results of a multicenter, randomized, double blind, placebo-controlled trial, Abstract No 1.377, 2016, American Epilepsy Society Annual Meeting
June 2018 GW Pharmaceuticals plc Investor Presentation 11
Phase 3 LGS 2 (Multiple Dose Cohorts) Trial Principal Efficacy
Results
Reduction in Drop Seizures Drop Seizure Responder Rates
70 Treatment Period
50 † †p<0.01 * *
Median % reduction / 28 days

*p<0.05

45 †
60 62 63 †p<0.01
47
† ‡p<0.001
40 42 †
50
40
35 37 ‡
40 43 †

% Patients
30 40
25 36
30 ‡
20
25
15 19 20
17
10 15 *
10 11
5 3
0 0
Treatment Period Maintenance Period ≥25% ≥50% ≥75%
(Primary)
CBD 20 mg/kg/day (n=76) CBD 10 mg/kg/day (n=73) Placebo (n=76)
▪ 5 CBD 20 mg/kg, 3 CBD 10 mg/kg, and 1 placebo patient achieved drop seizure freedom during maintenance
Cannabidiol (CBD) Significantly Reduces Drop Seizure Frequency in Lennox-Gastaut Syndrome (LGS): Multi-Center, Randomized, Double-Blind, Placebo-Controlled Trial (GWPCARE3)
A.D. Patel, O. Devinsky, J.H. Cross, V. Villanueva, E. Wirrell, K. VanLandingham, C. Roberts, D. Checketts, S. Zuberi, American Academy of Neurology Annual Meeting
June 2018 GW Pharmaceuticals plc Investor Presentation 12
Phase 3 Safety Profile
• Consistent AE profile across pivotal trials, EAP and state programs. Most common
AEs (>10% of patients) in Phase 3 trials include:
- Somnolence, diarrhea, decreased appetite, fatigue, pyrexia, vomiting, lethargy, upper
respiratory tract infection, convulsion
Across the Phase 3
• Serious AEs consistent with the pattern of common AEs
program, Epidiolex
• Low withdrawal rates seen throughout clinical program was generally well-
• Elevations in hepatic transaminases have been reported, most commonly with tolerated, with most
concomitant valproate; none met criteria for serious liver injury; all elevations AEs reported as mild
resolved– most while on treatment or moderate
- Physicians routinely monitor liver function in patients with epilepsy as there are a number
of approved AEDs that are associated with elevations in transaminases and typically run
routine liver tests

June 2018 GW Pharmaceuticals plc Investor Presentation 13

3rd Target Indication:
Tuberous Sclerosis Complex (TSC)
• Selection of these indications driven by encouraging EAP data
• Tuberous Sclerosis Complex (~25,000 US TSC patients with
treatment
resistant seizures)
- Single Phase 3 pivotal trial underway
- TSC is a genetic disorder that results from a mutation in tumor
suppressor genes
genes TSC1 or TSC2 and causes non-malignant tumors to form in
different organs (primarily the brain, eyes, heart, kidney, skin and lungs)
- Of TSC patients with epilepsy, 70% experience seizure onset in their first
year of life
- Co-morbidities include: cognitive impairment (50%), autism spectrum
disorders
(up to 40%), neurobehavioral disorders (over 60%)

Sources: Tuberous Sclerosis Alliance; Child Neurology Foundation; Infantile Spasms Project

June 2018 GW Pharmaceuticals plc Investor Presentation 14

Commercialization
Commercial Manufacturing

Growing & • GW has operated under commercial Good

Harvesting
Manufacturing Practices (GMP) licenses
Non-GMP issued outside the US since 2005
Drying & Processing
• Manufacturing scaled through in-house and
3rd party facilities
Extraction
• Further increases in scale anticipated in
2018 and beyond to meet anticipated global
Crystallisation demand
(API) GMP
• Regulatory evaluation same as small
Drug Product molecule, not “botanical”
Manufacture
• FDA pre-approval inspections completed
with no form 483 citations
Bottling & Labeling

June 2018 GW Pharmaceuticals plc Investor Presentation 16

Epidiolex® Commercial Exclusivity
• Orphan Designation
• 7 years in the US plus expected 6-month pediatric extension
• 10 years in the EU plus expected 2 years pediatric extension
Orphan
• Intellectual Property Exclusivity
• Pursuing a patent strategy designed to have patents issued to protect
lead drug candidate and other pipeline candidates beyond Orphan Life-Cycle
Designation Management
• Current portfolio includes multiple distinct patent families in the
treatment of epilepsy and formulations
• To date, 8 patents granted & 2 Notices of Allowance issued
• by the USPTO
Patent
• A number of these patents expected to be listed in the Orange Protections
Book
• Additional patent applications expected as new data is generated
• Life-cycle management through new indications, formulation
improvements, combinations and additional commercial geographies
• Proposed new formulations include liquid, solid dose, intravenous

June 2018 GW Pharmaceuticals plc Investor Presentation 17

Epidiolex® Patent Portfolio
(applications in public domain – numerous patents filed and not yet available through USPTO website)
Patent Primary Claim Status
US 9,066,920 A method of treating partial seizure comprising administering CBD at a daily dose of at least 400mg. Granted

US 9,522,123 A method of treating complex partial seizure comprising administering CBD at a daily dose of at least 400mg. Granted

US 9,474,726 A method of treating febrile infection related epilepsy syndrome (FIRES) comprising administering CBD) to a subject. Granted

US 9,956,184 A method of reducing seizure frequency in LGS with concomitant CBD and clobazam, wherein the CBD dose is 10 Granted
mg/kg/day or greater and the purity of the CBD is greater than 98%.
US 9,949,937 A method of reducing seizure frequency in Dravet syndrome with concomitant CBD and clobazam, wherein the CBD Granted
dose is 10 mg/kg/day or greater and the purity of CBD is greater than 98%.
US 9,956,183 A method of reducing seizure frequency in LGS or Dravet syndrome with concomitant CBD and clobazam, wherein the Granted
dose of clobazam is reduced and the purity of CBD is greater than 98%.
US 9,956,186 A method of reducing convulsive seizures in LGS with CBD, wherein the CBD dose is 10 mg/kg/day or greater and the Granted
purity of CBD is greater than 98%.
US 9,956,185 A method of reducing convulsive seizures in Dravet syndrome with CBD, wherein the CBD dose is 10 mg/kg/day or Granted
greater and the purity of CBD is greater than 98%.
US 15/449,402 A method of reducing drop seizure frequency in treatment-resistant childhood-onset epilepsy with CBD, wherein the NoA
CBD dose is between 5-35 mg/kg/day and the purity of CBD is greater than 98%.
US 15/449,535 A method of reducing drop seizure frequency in a patient with Lennox-Gastaut syndrome, comprising administering to NoA
the patient in need thereof cannabidiol (CBD), wherein the CBD has a purity of at least 98% (w/w) CBD and comprises
not more than 0.15% (w/w) Δ9-tetrahydrocannabinol (THC); and wherein the dose of the CBD is about 20 mg/kg/day
NoA: Notice of Allowance received by Company
June 2018 GW Pharmaceuticals plc Investor Presentation 18
Epidiolex® Rescheduling
• FDA approval necessitates that Epidiolex be moved
out of Schedule I once it has an “accepted medical
use”
Effect on Subjective Pharmacodynamic Measures(1)

• At the time of NDA approval, FDA recommend

the appropriate lower schedule based on
the abuse liability data submitted as part of the NDA

• Following NDA approval (if received), DEA has

up to 90 days to issue an interim final rule (IFR) to
reschedule, after which Epidiolex can be marketed
and dispensed

• GW is aiming for Epidiolex to be placed into

Schedule IV (1) Assessment of the Abuse Potential of Cannabidiol in Recreational Polydrug Users: A Randomized, Double-
Blind, Controlled Trial, Sommerville et al, 2017, Greenwich Biosciences, Inc.
- MARINOL (synthetic THC in sesame oil) Schedule III

June 2018 GW Pharmaceuticals plc Investor Presentation 19

Epidiolex® Commercialization Status
• Global commercialization rights to Epidiolex fully-owned by GW
Pharmaceuticals Group companies
• In the US we will use our subsidiary, Greenwich Biosciences Inc., to
commercialize our products
• US Launch Preparations
- Full commercial leadership team in place
- Finalizing build-out of experienced team of medical affairs professionals,
marketing and market access/payor experts, many of whom have strong
epilepsy knowledge and experience
- Active discussions in U.S. with a wide variety of payors and insurance
programs
- “High-touch” patient, payer and physician communication, education and
distribution model
• EU commercial footprint now in place in five major European markets

June 2018 GW Pharmaceuticals plc Investor Presentation 20

Additional Programs, Financial
Information and Upcoming Milestones
GW’s Cannabinoid Platform:
A Proprietary Growth Engine Beyond Epidiolex®
• Cannabis plant is a unique source of >100
cannabinoid molecules capable of targeting diseases
across therapeutic areas and mechanisms
- TRP channels, adenosine re-uptake, serotonin
receptors, endocannabinoid system
• GW has a deep pipeline of additional cannabinoid
product candidates
• Focus on orphan pediatric neurologic conditions within
epilepsy, autism, NHIE, schizophrenia
• Existing physician relationships through Epidiolex
program
• U.S. development and commercialization rights to
Sativex reacquired from Otsuka, plans underway to
commence U.S. pivotal trial in MS spasticity

June 2018 GW Pharmaceuticals plc Investor Presentation 22

CBDV Program

• CBDV in Autism Spectrum Disorders

- Pre-clinical research shows promising signals on cognitive/social endpoints as well as repetitive behavior
- A physician-led, FDA authorized, expanded access IND to treat seizures associated with autism in 10 patients underway
- An investigator-led 100 patient placebo-controlled trial in autism is also due to commence in Q3 2018
- Rett syndrome
- Orphan Drug Designation from FDA for CBDV for the treatment of Rett syndrome
- Open-label study in Rett Syndrome expected to commence in Q3 2018
- Phase 2 placebo-controlled trial expected to commence Q4 2018

• CBDV in epilepsy (GWP42006)

- CBDV looks to be differentiated from CBD in four key ways: efficacy profile in seizure models, metabolic profile,
pharmacological profile and has different physico-chemical characteristics
- CBDV has shown anti-epileptic properties across a range of in vitro and in vivo animal models of epilepsy
- Phase 2a placebo-controlled trial (n=162) in adult patients with partial-onset epilepsy failed to differentiate from placebo on
the primary endpoint as both arms showed reductions in focal seizures of approximately 40%
- CBDV was generally well-tolerated with the majority of CBDV patients experiencing adverse events of mild
or moderate severity
- GW will continue to explore potential development opportunities for CBDV in the field of epilepsy

June 2018 GW Pharmaceuticals plc Investor Presentation 23

Recurrent Glioblastoma Multiforme (GBM) Program

• THC:CBD investigational product candidate for the treatment of GBM

- Orphan Drug Designation from FDA
• GBM is the most common and most aggressive type of malignant primary brain tumor1,2
- Typically patients succumb to the disease approximately 15 months after diagnosis
- Treatment for GBM remains challenging and additional safe and effective long-term treatment options are needed
- Standard treatment is surgical resection, radiotherapy and concomitant adjunctive chemotherapy
• Phase 2 study completed
- THC:CBD + TMZ had an 83% one year survival rate compared with 44% for patients on placebo (TMZ only) (p=0.042)
- Median survival for the THC:CBD group was over 662 days compared with 369 days in the placebo group3
- THC:CBD was generally well tolerated with treatment emergent adverse events leading to discontinuation in two patients
in each group
- The most common adverse events (three patients or more and greater than placebo) were vomiting (75%), dizziness
(67%) nausea (58%), headache (33%), and constipation (33%)

1. National Brain Tumor Society web site. "Tumor Types." http://www.braintumor.org/brain-tumor-information/understanding-brain-tumors/tumor-types/#glioblastoma-multiforme.

2. American Brain Tumor Association. (2012) "Glioblastoma and Malignant Astrocytoma." http://www.abta.org/secure/glioblastoma-brochure.pdf
3. Data reported by GW Pharmaceuticals press release 7 February 2017

June 2018 GW Pharmaceuticals plc Investor Presentation 24

Sativex® - New U.S. Late Stage Pipeline Product
• Oromucosal spray of a formulated extract of cannabis that contains the principal cannabinoids delta-9-
tetrahydrocannabinol (THC) and cannabidiol (CBD) in a 1:1 ratio
• Approved in >25 countries outside the United States for the treatment of spasticity due to Multiple Sclerosis (MS).
Product is sold via marketing partners

• New placebo-controlled trial data presented at ECTRIMS 2017 – positive primary and secondary endpoints
• GW reacquired full rights to develop and commercialize Sativex in U.S. (December 2017). Previous license
agreement with Otsuka terminated
• Represents a new wholly-owned late-stage U.S. asset

• We expect to evaluate the optimal route to achieve a NDA and believe that this may require the conduct of an
additional single pivotal trial

June 2018 GW Pharmaceuticals plc Investor Presentation 25

Key Financial Data Clean up

ICON

Cash at 31 March 2018 $487.2m

H2 2018 cash outflow guidance

$120m–$140m
($10-$20m Capex for manufacturing expansion

Share Capital Current Options Fully Diluted

ADS/m 28.2 1.0 29.2

June 2018 GW Pharmaceuticals plc Investor Presentation 26

Upcoming Milestones/Newsflow
Expected Timing
EPIDIOLEX REGULATORY
NDA PDUFA June 27, 2018
EMA decision Q1 2019
DEA rescheduling Q3 2018
U.S. launch H2 2018
EPIDIOLEX DATA
2nd LGS Phase 3 publication H1 2018
Phase 3 tuberous sclerosis complex trial data H1 2019
2nd Phase 3 Dravet syndrome trial data H2 2018
EPIDIOLEX EXCLUSIVITY
Track One patent decisions Ongoing
PIPELINE
CBDV investigator-led placebo control trial in autism start Q3 2018
CBDV open label in Rett syndrome trial start Q3 2018
Sativex IND for pivotal Phase 3 study H2 2018
CBDV Phase 2 Rett syndrome trial start Q4 2018

June 2018 GW Pharmaceuticals plc Investor Presentation 27

 GW Pharmaceuticals plc
NASDAQ: GWPH
Thank You Stephen Schultz, VP Investor Relations
sschultz@gwpharm.com
+ 1 401-500-6570