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Investor PresentationA Life Science Company Driven By

Next Generation Plant Biotechnology

LD Micro 500 Virtual Conference Presentation

September 2020

(NYSE American: XXII)

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Disclaimer

Forward-Looking Statements

This presentation contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. You can identify these statements by words such as “aim,” “anticipate,” “assume,” “believe,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “positioned,” “predict,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management's beliefs and assumptions. These statements are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All forward-looking statements are subject to risks and uncertainties and others that could cause actual results to differ materially from those contained in our forward-looking statements. Please refer to the “Risk Factors” in our Annual Report on Form 10-K filed on March 11, 2020 and in our subsequently filed Quarterly Report on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law

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Vision

Mission

A plant-based biotechnology leader applying next generation science to create proprietary technology and intellectual property solutions

Develop and provide unique, plant-derived commercial solutions that enhance and broaden the consumer experience to the life science, consumer products, and pharmaceutical markets

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We Are:A plant-based, life science company

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Accomplished Leadership TeamJames A. MishChief Executive Officer

Global executive leadership experience at science-driven organizations operating in the consumer products, pharmaceutical, and cannabinoid spaces

Former Chief Executive Officer at Purisys and Noramco

30+ years industry experience

John FranzinoChief Financial Officer

Extensive financial leadership experience in tobacco and alcoholic beverage industries

Former Chief Financial Officer at Santa Fe Natural Tobacco and Labatt USA

25+ years industry experience

Michael ZercherPresident & Chief Operating Officer

20+ years in the tobacco industry in global marketing, sales, operations, and business development

Former Vice President at Reynolds USA and Santa Fe Natural Tobacco

25+ years industry experience

Nora B. SullivanDirector & Chairperson of the Board

Clifford B. FleetDirector

Richard M. SandersDirector

Roger D. O’BrienDirector

20+ years of investment management experience

Former Chief Executive Officer at 22nd Century and Philip Morris

25+ years of industry experience

Former President / Chief Executive Officer at Santa Fe Natural Tobacco

20+ years of industry experience

40+ years of executive leadership and management consulting experience

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What’s New at XXII

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• A new blueprint and 180-day workplan

• Embracing our roots in plant-based, life science biotechnology

• Exploring global expansion in our tobacco and hemp/cannabis franchises

• Re-focusing on our disruptive, proprietary IP creation

• Focused on reduced nicotine tobacco plus new tobacco opportunities

• Enhancing cannabis franchise

• Looking to serve broader end markets across the life science, CPG (food, beverage, nutrition, personal care), recreational cannabis, and pharmaceutical space

• Identifying a third franchise specifically serving life science markets

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A Life Science Company Driven By Next Generation Plant Biotechnology

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Financial Strength

including NYSE American listing and healthy

balance sheet

Massive Market Opportunityin tobacco,

hemp/cannabis, and other botanically driven life science categories

Substantial R&D Platform

with cutting edge technology applications

and deep intellectual property moat

Established & Developing Strategic

Partnershipsto bring commercial solutions to market

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We Compete in Industries Ripe for Disruption22nd Century’s core competencies in plant-based research provides solutions across highly-regulated end markets

1) Foundation for a Smoke Free World; https://www.smokefreeworld.org/wp-content/uploads/2019/08/FSFW_Global-Trends-in-Nicotine_6.22.2020.pdf2) PR Newswire; https://www.prnewswire.com/news-releases/global-cannabis-market-now-projected-to-exceed-89-billion-by-2024-300904306.html

Commercial Launch

$85B+Market(2024E)2

EmergingPresence

Commercial Whitespace

DemonstratedStrength

$817B Market

(2018)1

Tobacco Industry Hemp/Cannabis Industry

Massive, established market

Capture market share through disruptive technology

Category entry through impactful

partnerships

20+ years of deep, established R&D technologies

First and only combustible tobacco product anticipating MRTP approval

Nascent, fast-growing market

Highly fragmented industry

Opportunity to seize leadership through

a differentiated product offering

Category Attributes

R&D Innovation

Plant-Based

Highly-Regulated

Licensing Opportunities

Consumer-Facing

22ND CENTURY HAS FIRST MOVER ADVANTAGE IN VERY LOW NICOTINE TOBACCO TECHNOLOGY AND ITS FAMILY OF PATENTS IN PLANT-BASED BIOTECHNOLOGY APPLICATIONS ENABLES ENTRY INTO ADJACENT MARKETS

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Our Playbook for Developing Plant BiotechnologyExtensive in-house R&D capabilities in combination with selective partnerships yield disruptive plant-based technologies, ingredient solutions, and formulated products

1) As of August 27, 2020

In-House Capabilities

SelectPartnerships

• Molecular breeding, genetic modification, and transformation technologies

• Ability to create new, high value plant lines and valuable intellectual property

Plant Biotechnology Applications

• 200+ issued and pending applications for tobacco and hemp/cannabis plants 1

• GMO & Non-GMO tobacco lines

Plant-BasedResearch & Development

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We are setting the stage for a successful launch of VLN®, our proprietary reduced nicotine cigarettes containing 95% less nicotine than conventional counterparts

Our Tobacco Franchise

The FDA has authorized 22nd Century to sell its reduced nicotine content tobacco cigarettes in the U.S.

Develop and commercialize GMO and non-GMO varietiesof 95% reduced nicotine tobacco

Premarket Tobacco Product Application (PMTA)

Modified Risk Tobacco Product Application (MRTPA)

An MRTP authorization would allow 22nd Century to make powerful marketing and advertising claims, in the U.S. under the brand name VLN®, distinguishing the product from conventional cigarettes

CONTINUE TO SUPPORT THE FDA’S PROPOSED PLAN FOR THE ADOPTION OF A REDUCED NICOTINE PRODUCT STANDARD FOR ALL COMBUSTIBLE CIGARETTES

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Tobacco Is A Massive Market Opportunity

SMOKERS ARE ACTIVELY SEEKING ALTERNATIVES TO ADDICTIVE COMBUSTIBLE CIGARETTES

1) Foundation for a Smoke Free World; https://www.smokefreeworld.org/wp-content/uploads/2019/08/FSFW_Global-Trends-in-Nicotine_6.22.2020.pdf2) World Health Organization; https://www.who.int/gho/tobacco/use/en/#:~:text=In%202015%2C%20over%201.1%20billion,Region%20and%20the%20African%20Region.3) Centers for Disease Control and Prevention; https://www.cdc.gov/tobacco/data_statistics/fact_sheets/adult_data/cig_smoking/index.htm4) Centers for Disease Control and Prevention; https://www.cdc.gov/tobacco/data_statistics/fact_sheets/cessation/smoking-cessation-fast-facts/index.html5) U.S. News; https://health.usnews.com/health-conditions/allergy-asthma-respiratory/smoking-cessation/overview

$817B Global Tobacco Market 2018 1

2/3of Adult Smokers

Want to Quit 4

1/2of Adult Smokers

Made an Attempt to Quit in the Past Year 4

1BGlobal Adult

Smokers 2

34MU.S. Adult Smokers 3

95%of smokers Who Do Not Participate in a Smoking Cessation Program Fail 5

<10%of Adult Smokers Successfully Quit

in 2018 4

87%

4%4%

3%0.3%2%

Cigars & CigarillosCigarettes Smokeless Tobacco

Smoking TobaccoVaping Systems & Heated Tobacco ProductsNRT Smoking Cessation Aids

60% of current adult smokers

indicated likelihood to use VLN®$714B1

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Features and Benefits of Reduced Nicotine Cigarettes

Sources: Eric C. Donny, Ph.D., Rachel L. Denlinger, B.S., et al. “Randomized Trial of Reduced-Nicotine Standards for Cigarettes.” Oct. 2015. Dorothy K. Hatsukami, PhD; Xianghua Luo, PhD, et al., “Effect of Immediate vs Gradual Reduction in Nicotine Content of Cigarettes on Biomarkers of Smoke Exposure.” Sept. 2018.Dorothy K Hatsukami , Michael Kotlyar, et al., “Reduced nicotine content cigarettes: effects on toxicant exposure, dependence and cessation.” Feb. 2010.

STUDIES SUPPORT 22ND CENTURY’S PMTA & MRTP APPLICATIONS AS WELL AS THE FDA’S PROPOSED PLAN TO REDUCE NICOTINE LEVELS IN ALL COMBUSTIBLE CIGARETTES

Proprietary Technology in Reduced Nicotine Content

• VLN® cigarettes contain 95% less nicotine than conventional cigarette alternatives

• We own or control over 200 issued and pending patents and other intellectual property related to nicotine biosynthesis in tobacco plants

Discernable Adult Smoker Benefits

• Reduce nicotine exposure and dependence

• Smoke fewer cigarettes per day

• Experience reduced withdrawal symptoms

• Increase number of smoke-free days

• Double quit attemptsScience-Backed Research from Clinical Trials

• Since 2011, our reduced nicotine tobacco has been used in more than 50 independent scientific clinical studies conducted by researchers at universities and institutes

• These studies have been largely funded by U.S. government agencies and are estimated to have cost over $100 million

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VLN® Path to CommercializationThe FDA Pathway to MRTP Commercial Readiness

Submit Premarket Tobacco Product Application (PMTA) to the FDADecember 4, 2018

Submit Modified Risk Tobacco Product Application (MRTPA) to the FDAMay 17, 2019

The FDA accepted and filed MRTPA for substantive scientific reviewJuly 19, 2019

The FDA’s Tobacco Products Scientific Advisory Committee (TPSAC) review of MRTPAFebruary 14, 2020

MRTPA public comment period closeMay 18, 2020

MRTP Authorization by the FDAIN “FINAL ACTION" STAGE

PMTA authorized by the FDADecember 17, 2019

“Authorizing these reduced nicotine products for sale in the U.S. is appropriate for the protection of public health” – The FDA press release on 12/17/19

Contains 95% less nicotine than

conventional cigarettes

Helps reduce nicotine

consumption

Smells, burns, and tastes like a

conventional cigarette

Go-to-Market Strategy

• After the FDA authorizes 22nd Century’s MRTP application, VLN® will be registered with each state to enable national commercialization

• 22nd Century will initially launch VLN® though a targeted pilot rollout program across select U.S. geographies

• 22nd Century manufactures its reduced nicotine content cigarettes in a 62,000 sq. ft. manufacturing facility, which also contract manufactures third-party brands

*These advertisements were submitted to the FDA as an exhibit to the Company’s MRTP application for VLN.

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Develop a hemp/cannabis franchise with both internal investments and external relationships focused on key cannabinoids and terpenes and the associated genetic markers that will allow us to create proprietary plant lines for commercial use

Our Hemp/Cannabis Strategy

Develop new technologies to facilitate production of distinctive, high value plant lines with desirable traits

Develop high-resolution genomic database to enable characterization of hemp/cannabis lines

Conduct greenhouse and field trials to certify plant genetics

Develop strategic partnerships focused on high-value segments of the hemp/cannabis value chain to generate profitable revenue

Commercialize our proprietary plants through these strategic partnerships

Develop proprietary plant varieties with valuable

cannabinoid and terpene profiles and agronomic traits

Develop commercial partnerships through

investments and other strategic relationships

ESTABLISH A LEADERSHIP POSITION IN THE LEGAL HEMP/CANNABIS INDUSTRY BUILT ON SCIENCE-DRIVEN DIFFERENTIATION

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Our Science-to-Sale Hemp/Cannabis PlatformWe are leveraging our leading technology to develop proprietary ingredient solutions for disruptive end use products

OUR CURRENT FOCUS ON SUPPLYING UNIQUE INGREDIENT SOLUTIONS ENABLES DIFFERENTIATED PRODUCT OFFERINGS

Seed/Plant Biotechnology

Current Focus: Ingredient Solutions

Future Opportunity:Formulated Products

Plant Breeding & Engineering

Ingredient Cultivation

Product Formulation

Product Sale

Unique Cannabinoid

Profile

Select Terpene

Traits

Beneficial Agronomic

Characteristics

Superior User

Experience

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Financial Snapshot22nd Century maintains a healthy balance sheet and an asset light model

Source: Company filings1) Capital expenditures includes acquisition of patents and trademarks, acquisition of machinery and equipment and acquisition of license2) Cash and cash equivalents includes short-term investment securities. At 06/30/20 and 12/31/19 the short-term investment securities consisted of money market funds and corporate bonds

$ in millions

Summary Income Statement & Cash Flow Items 6 Months Ended June 30, Year Ended December

2020 2019 2019 2018

Net revenue $ 13.5 $ 12.1 $ 25.8 $ 26.4

Operating loss $ (8.9) $ (10.4) $ (23.6) $ (24.0)

Capital expenditures 1 $ (0.4) $ (0.6) $ (1.1) $ (1.1)

Summary Balance Sheet Items Most Recent Quarter Year Ended December

June 30, 2020 2019

Cash and cash equivalents 2 $ 28.9 $ 39.0

Total assets $ 61.1 $ 69.0

Total liabilities $ 7.3 $ 6.9

Total shareholders' equity $ 53.9 $ 62.1

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Gaining Momentum Across End Markets

2018 2019 2020+

Corporate Initiatives

Tobacco Milestones

Hemp/CannabisMilestones

─ Pursued opportunity from the FDA’s Advance Notice of Proposed Rulemaking (ANPRM) to reduce nicotine in cigarettes

─ Expanded R&D capabilities into adjacent hemp/cannabis applications

─ Further strengthened the executive leadership team with the addition of James A. Mish, CEO and John Franzino, CFO bringing deep industry experience

─ Premarket Tobacco Product Application (PMTA) submitted to the FDA seeking authorization to commercialize reduced nicotine content tobacco cigarettes

─ Modified Risk Tobacco Product Application (MRTPA) submitted to the FDA for authorization to market VLN® reduced nicotine content cigarettes with pack and advertising claims

─ The FDA applications for VLN® cigarettes advanced with completion of the FDA’s inspection of manufacturing facility

─ The FDA accepted and filed for substantive scientific review MRTPA

─ The FDA determined that sale of 22nd Century's proprietary reduced nicotine content cigarettes is 'appropriate for the protection of public health'

─ Worldwide and exclusive strategic R&D partnership formed with KeyGene

─ Initial investment in Panacea Life Sciences, Inc., a hemp CBD company

─ The FDA’s Tobacco Products Scientific Advisory Committee (TPSAC) reviewed MRTPA

─ MRTPA public comment period closed

─ Prepare and execute VLN® commercial launch

─ Advanced non-GMO plant lines and product development

─ Announced high-quality genome sequence assembly with KeyGene of two hemp/cannabis lines and established new, proprietary bioinformatics platform

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Strategic Spotlight: Priorities & Objectives

Optimize spending and allocate resources to execute path towards revenue growth and profitability

03Develop and provide proprietary, plant-based commercial solutions to the life science, consumer products, and pharmaceutical end use markets

01Bring VLN® brand reduced nicotine content tobacco cigarettes to market

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FOR MORE INFO:investorrelations@xxiicentury.comxxiicentury.com/investors