Grown Rogue Intl. Inc. (GRUSF)

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Revenue for the six months ended February 28, 2011 was down $26,685 to $36,035 compared to $62,720 for the
same period in 2010. The decrease in revenue during 2011 is attributed to lower production volumes and lower
commodity prices received. Net loss and comprehensive loss for the six months ended February 28, 2011 was
$215,362 compared to $117,045 for the comparable six month period in 2010. The increase in loss during 2011 was
primarily related to decreases in revenue and increases in administrative expenditures partially offset by an expense
recovery and foreign exchange gains.

For the six months ended February 28, 2011 the Company’s cash position increased by $43,351 to $87,127
compared to cash of $43,776 at August 31, 2010. At February 28, 2011 the Company’s accounts receivable was
$116,011 representing an increase of $62,951 compared to $53,060 at August 31, 2010. For the six months ended
February 28, 2011 current liabilities increased by $3,252,572 to $4,094,996 compared to $842,424 at August 31,
2010. Long term liabilities decreased by $1,004,459 to $20,792 compared to $1,025,251 at August 31, 2010. The
Company has a working capital deficiency of $3,891,857 at February 28, 2011 compared to a working capital
deficiency of $744,262 at August 31, 2010.

During the six month period ended February 28, 2011, 1,350,247 common share purchase warrants were exercised
at $0.07 for proceeds of $123,768.

During the six month period ended February 28, 2011 the Company received US$2,160,000 and CDN$149,000 and
issued promissory notes bearing interest at 10% per annum. Interest is payable annually on the anniversary date of
the notes.


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