A n n u a l G e n e r a l M e e t i n g O c t o b e r 1 6 , 2 0 1 9

TSXV: EILOTC: ERILF

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This presentation contains forward-looking statements, within the meaning of applicable securities legislation, concerning Empire's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause

actual results to differ materially. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this presentation, and Empire assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this presentation.

ReaderAdvisory&Non-DisclosureObligation

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Empire’scoreisextraordinaryrides

1stco-ventureopensin2021

*

*ShareholderswillbeaskedtoapproveEmpire’sproposednamechangetoDynamicEntertainmentInc.attheAGMonOctober16,2019.

74%

•  EmpireIndustrieshasexitedthelowmargin,commodity-stylesteelfabricationindustry

•  Thecompany’sfutureisinentertainment:ridesandco-ownershipofmajortouristattractions

•  Atthe2018AGM,shareholdersapprovedtheconceptofanamechange.

•  Insuitwiththenamesofthecompany’s‘Dynamic’businesses,‘DynamicEntertainment’isalogicalchoice.

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Ournameandtheentertainmentbusiness

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Strategic,experienced&visionaryleadership

GuyNelsonChiefExecutiveOfficer

MichaelMartinChiefFinancialOfficer

AllanFrancisVP,CorporateAffairs

JerryPiersonVP,Operations(USA)

StevenTurnerVP,Operations(Canada)

CindyEmerickVP,BusinessDevelopment

HaoWangChiefOperatingOfficer

MikeCarrollVP&ExecutiveProducer

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Deliveringthebestridesforthebiggestthemeparks

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Empirehasdelivered50+ridesglobally

Empireisaleaderinarapidlygrowing,globalmarket

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4

10 5

3

Numberindicatesmultiplerides

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Proprietarytheatres,coasters&darkrides

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Consistentlywinsinnovationawards

2019

ThemedAttractionoftheYearMedia-BasedAttractionoftheYear

2018

AdvancingTechnologyExportAwardBestNewAttractionConcept

2017

BestNewAttractionConceptInnovationsinTechnologyAward

2016

BestNewAttractionConcept2015

BestNewAttractionConcept

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Empire’sridesystemsarepatented

Description Filed AppliedorAwarded

FlyingTheater 2012 !"#$%&'()*+,-./0Europe

SFXCoasterSideSlide

2015 !"#$%Europe

SFXCoasterTilt&Drop

2015 !"#$Europe,WIPO(Int’l)

SFXCoasterV-TrackSupport

2015 !"#$%EuropeWIPO(Int’l)

All-TerrainAmusementRide&Controls

2017 !

•  DynamicCo-ventureswillbeaseriesofenterprisesinwhichEmpirewillco-ownattractionswithtourismattractionsoperationspartners

•  EachCo-venturewillfeaturearidefromEmpireandoperateunderanexclusivelicense

•  EachCo-ventureisexpectedtoproducestable,long-term,recurringandgrowingrevenueandprofit

•  LocationsforprospectiveCo-venturesareinvariousstagesofdevelopment

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Co-ventures:Anew,recurringrevenuestream

•  SmokyMountainFlyersislocatedatTheIslandinPigeonForgeamusementpark(Tennessee)

•  Itwillfeaturea39-seatDynamicFlyingTheatreandisscheduledtoopenin2021

•  TheIslandisatopdestinationinadensetourismregionneartheSmokyMountainswhichdraws11milliontouristsperyear

•  Empirehasanoptiontoacquirea50%shareofthisCo-venture.

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ComingSoon:SmokyMountainsFlyers

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Indicativeco-ventureinvestmentstructure

Financialstructureofthecapitalrequirementswillbenegotiatedonacasebycasebasis.Actualresultsmayvarysignificantlyfromthesenumbers.

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Indicativeco-ventureinvestmentreturns

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Empire’sBacklog:Demandisskyrocketing

Represents2+yearsofworkatthecurrentrateofproduction

Millions

$67$103 $102 $116

$252

2014 2015 2016 2017 2018

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Capitalmarketsinformation

MarketCap(October11,2019)….$41million($0.40/share)StockPrice:52weekhigh/low……………….…….$0.54/$0.31NumberofShares(fullydiluted)..………….….…103.1millionAvg.DailyTradingVolume(last6months)…..…….…..…60KAnnualRevenues(TTMJune30,2019)…..…...$145millionAnnualAdj.EBITDA(TTMJune30,2019)….$(10.9)millionAnnualizedQ22019EBITDA…........................$11.8millionLongTermFundedDebt(June30,2019)…....$19.2million

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.50mm

1.00mm

1.50mm

2.00mm

2.50mm

3.00mm

$0.30

$0.35

$0.40

$0.45

$0.50

$0.55

Empire Industries Ltd. (TSXV:EIL) - Volume Empire Industries Ltd. (TSXV:EIL) - Share Pricing

•  ProjectsRelentlessfocusonhighermarginprojects;everyprojectundergoesscrutinytomaximizeprofitability

•  Facilities,Processes&CostsContinuallyassessed,rationalizedandbeingmademoreefficient

•  SuppliersBeingoptimizedtobetteraddressglobalmarketneeds

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Riskmitigated,profitmaximized

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Returningtoprofitability

CDN$M Q22019

Q22018

YTDQ22019

YTDQ22018

Revenue

$40.600 $33.600 $71.600 $67.100

AdjustedEBITDA $2.900 $0.0300 $3.100 $1.300

AdjustedEBITDA% 7.3%00 0.1%00 4.3%00 2.0%00

NetIncome

$1.600 $(1.2)00 $1.500 $(2.2)00

NetIncome/Share-Basic $0.0200 ($0.01)00 $0.0200 $(0.03)00

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IndustryComparablesMarket

Capitalizations($millions)

TotalRevenues

[LTM]($millions)

MarketCap/TotalRevenues

[LTM]Disney(NYSE)

308,492

85,529

3.6x

Comcast(NasdaqGS)

271,430

136,921

2.0x

Evergrande(SEHK)

39,644

73,242

0.5x

Merlin(LSE)

7,806

2,936

2.7x

SixFlags(NYSE)

5,537

1,974

2.8x

CedarFair(NYSE)

4,261

1,871

2.3x

Viad(NYSE)

1,781

1,773

1.0x

IMAXChina(SEHK)

1,110

165

6.7x

BrogentTechnologies(GTSM)

455

82

5.6x

SanseiTechnologies(TSE)

208

621

0.3x

EmpireIndustries(TSXV)

41

147

0.3x

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Marketpricetradescurrentlylikeacontractridemanufacturer.Multipleexpansioncouldoccurasco-venturesaddsgrowingandrecurringprofittoitsbusinessactivitystartingin2021

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Empireistheindustry’sleadingridemanufacturer

Oct2017$3.0MprivateplacementNov2017$3.9MprivateplacementDec2017EROLpurchases26.5%ofDEGLMay2018$5.0MprivateplacementJune2018Shareholderwarrantsexercised;$1.7MproceedstocompanyApril2019$38.5Mdebtfinancing,resultingin$19.5MinnetnewcashMay2019$7.55Mof8%ConvertiblePreferredShares

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Keycapitalevents

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Whyinvestnow•  Empire’sglobalcustomersaremakingunprecedentedinvestmentsinnewattractions

•  Empire’shighdemandbecauseofitsattractionsindustryleadershipposition,proprietaryproducts&IP

•  Empirehasarecordhighbacklog,astrengtheningbalancesheetandhasreturnedtoprofitability

•  Newco-ventureinitiativeisdesignedtodeliverrecurringrevenue

•  Empireisanundervaluedequityinvestmentopportunity

e m p i n d . c o m

TSXV: EILOTC: ERILF

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