COWEN COLLABORATIVE INSIGHTS February 25, 2019 GW Pharmaceuticals Ple Rating History as of 02/25/2019 powered by: BlueMatrix =a | (1):$166.00 || (1):$165.00 || (1):$175.00 02/24/17 08/07/17 09/27/18 180 : : — 160 140 120 100 80 60 40 20 Apr 16 Jul 16 Oct 16 Jan 17 Apr 17 Jul 17 Oct 17 Jan 18 Apr 18 Jul 18 Oct 18 Jan 19 ; ——— Closing Price ——— Target Price Tilray Rating History as of 02/25/2019 powered by: BlueMatrix 1:(1):$34.00 | |(1):$62.00 | | (1):$172.00 | |(1):$150.00 08/13/18 08/29/18 10/09/18 1148 250 - “ 200 150 100 50 0 Apr 16 Jul 16 Oct 16 Jan 17 Apr 17 Jul 17 Oct 17 Jan 18 Apr 18 Jul 18 Oct 18 Jan 19 q —— Closing Price —— Target Price ) Turning Point Brands Rating History as of 02/25/2019 powered by: BlueMatrix 1:(1):$13.00 | | (1):$17.00 | | (4):$18.00 | | (1):$19.00 | | (1):$20.00 | | (1):$25.00 | | (1):$27.00 | | (1):$35.00 | | (1):$45.00 06/06/16 111/16 03/13/17 05/12/17 08/10/17 01/08/18 03/12/18 08/08/18 09/06/18 _ 50 S S - a 40 A po 30 foe 20 ee - = ho Rn 10 = 0 Apr 16 Jul 16 Oct 16 Jan 17 Apr 17 Jul 17 Oct 17 Jan 18 Apr 18 Jul 18 Oct 18 Jan 19 ( —— ClosingPrice ——— Target Price ] COWEN.COM 103 HOUSE_OVERSIGHT_024919