Turning Point Brands 8K Announces First Quarter 2020 Results | TPB 28 Apr 20

Exhibit 99.2

| N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | Turning Point Brands (NYSE: TPB) ANNUAL MEETINGA p r i l 2 8 , 2 0 2 0

DisclaimerFORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause these differences include, but are not limited to, the factors set forth in “Risk Factors” included in TPB’s annual report on Form 10-K and other reports filed with the Securities and Exchange Commission from time to time. Any forward-looking statement made by TPB in this presentation speaks only as of the date hereof. New risks and uncertainties come up from time to time, and it is impossible for TPB to predict these events or how they may affect it. TPB has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws.This presentation includes industry and market data derived from internal analyses based upon publicly available data or proprietary research and analysis, surveys or studies conducted by third parties and industry and general publications, including those by the Management Science Associates, Inc. (“MSAi”) and Nielsen Holdings, N.V. (“Nielsen”). Third-party industry and general publications, research, surveys and studies generally state that the information contained therein has been obtained from sources believed to be reliable. Although there can be no assurance as to the accuracy or completeness of the included information, we believe that this information is reliable. While we believe our internal analyses are reliable, they have not been verified by any independent sources. Any such data and analysis involve risks and uncertainties and are subject to change based on various factors, including those set forth in “Risk Factors” included in TPB’s annual report on Form 10-K and other reports filed with the Securities and Exchange Commission from time to time.NON-GAAP RECONCILIATIONThis presentation includes certain non-U.S. generally accepted accounting principles (“GAAP") financial measures, including EBITDA, Adjusted EBITDA and Net Debt. Such non-GAAP financial measures are not in accordance with, or an alternative to, financial measures prepared in accordance with GAAP. Please refer to the Appendix of this presentation for a reconciliation of EBITDA and Adjusted EBITDA to net income and Net Debt to Debt. To supplement our financial information presented in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, we use non-U.S. GAAP financial measures, including EBITDA, Adjusted EBITDA and Net Debt. We believe EBITDA and Adjusted EBITDA provide useful information to management and investors regarding certain financial and business trends relating to financial condition and results of operations. Adjusted EBITDA and Net Debt are used by management to compare performance to that of prior periods for trend analyses and planning purposes and is presented to our board of directors. We believe that EBITDA and Adjusted EBITDA are appropriate measures of operating performance because they eliminate the impact of expenses that do not relate to business performance.Non-U.S. GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude significant expenses that are required by U.S. GAAP to be recorded in our financial statements and is subject to inherent limitations. In addition, other companies in our industry may calculate these non-U.S. GAAP measure differently than we do or may not calculate it at all, limiting its usefulness as a comparative measure.2

TPB: Investment Highlights Turning Point Brands (NYSE: TPB) Resilient Core Business with Leading BrandsSmokeless Segment: Stoker’s is the leading value brand in tobacco chew with a long runway for growth in MSTSmoking Segment: Zig-Zag is the #1 premium rolling paper brand with unparalleled brand recognitionNewGen Value Creation PotentialOnline distribution businesses give access to new customer channelsNu-X Ventures creates a product development engine for high-margin proprietary productsPMTA process presents a unique opportunity to consolidate the vape marketPowerful Distribution InfrastructureLong-standing relationships in core convenience store channelIncreasing brand presence through non-traditional channels (headshops, dispensaries, B2B e-commerce)Re-vamped brand e-commerce platforms (ZigZag.com, Nu-X.com, SolaceVapor.com)Stable Free Cash Flow GenerationAsset-light business model leads to high free cash flow conversion for capital deploymentRobust pipeline of acquisition opportunities TPB Investment Highlights 3 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

We are an active ingredients company that develops and distributes iconic brands and products. BROAD PORTFOLIO OF ACTIVE INGREDIENT ALTERNATIVES AND BRANDS 3 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

Powerful Distribution InfrastructureNorth American retail presence that reaches over ~210,000 outlets Regional sales team selling to over 95,000 independent convenient stores Regional Sales Teams Distribution Infrastructure Turning Point Brands (NYSE: TPB) Online B2B platform reaching ~4,000 alternative stores B2BDistribution National sales team selling to over 85,000 national chain stores. National Distribution Dedicated product sales teams and brand specific B2C/B2B platforms ProductSales Teams Online B2C distribution platforms selling to ~1.5 million unique customers B2CDistribution 3 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

MST TUBS Introduced a larger tub format Moist Snuff Tobacco (MST) product driving category over the last 10+ years About Stoker's Building brand equity for over 80 years. Stoker’s is the #2 chew brand and a leading MST value brand MST Cans Chew #1 discount brand and #2 chew brand overall in the US. TPB’s brands collectively hold ~30%* of the loose-leaf chew market 55%Stoker's created the MSTTubs category and is the category leader with over 55%* share Smokeless: Iconic Brand with Sustained Growth Smokeless: Stoker’s Brand Equity Turning Point Brands (NYSE: TPB) Accelerating strength from distribution gains and same-store-sales growth. Significant chain launches in 2019 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | *Share figures per MSAi 6

Smokeless: Continued MST Distribution Gains Smokeless: Stoker’s MST Distribution Growth Turning Point Brands (NYSE: TPB) | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | 41.4 43.0 48.1 52.2 57.0 57.7 58.0 61.4 61.6 61.3 62.3 63.2 63.1 66.1 67.6 68.3 70.4 72.8 4Q15 2Q16 4Q16 2Q17 4Q17 2Q18 4Q18 2Q19 4Q19Store count excludes ~14k lower sales velocity Dollar General stores added in 2Q18. Long Runway for Growth Currently in stores representing~55%* of volume weighteddistribution Additional ~30-50k stores targeted for national distribution *Per MSAi at the end of 1Q20 7

Papers #1 premium rolling paper brand sold in the U.S. and Canada About Zig-Zag Embedded into pop culture with a storied history that dates over 140 years Market leader in MYO cigarwraps with >70%* share Wraps New Product Launches Continued roll-out of paper cones, unbleached and hemp rolling papers along with new product introductions 30%Zig Zag owns >30%* ofthe rolling paper market in the United States Smoking: Iconic Brand with Leading Market Share Zig-Zag: Brand Equity Turning Point Brands (NYSE: TPB) | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | *Share figures per MSAi 8

Smoking: Expanding Portfolio and Sales Channels Zig-Zag: Growth Initiatives Turning Point Brands (NYSE: TPB) Classic Zig-Zag Products Growth Initiatives New products and accessories Re-vamped e-commerce platform Enhanced brand presence in headshops and dispensaries; ReCreation Marketing partnership in Canada Iconic Products with Unparalleled Recognition“Zig Zag Orange” and “Zig Zag White” are long-standing industry staples 9 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

NewGen Segment Turning Point Brands (NYSE: TPB) Product DevelopmentIdeation, product development and marketing arm Higher-Margin Proprietary Brands DistributionB2B (Vapor Beast) and B2C (Direct Vapor, VaporFi) vape platforms selling third-party and proprietary products Lower-Margin Third Party Products 2016-2018: New Generation (NewGen) segment formed through acquisitions of leading B2B and B2C e-commerce distribution platforms; primarily selling third-party products to customers in the vape and actives market Today: Nu-X products sold through the NewGen and traditional TPB distribution platformsFuture: Expected proprietary product growth as a result of market consolidation following the PMTA process Market Access Product 2018: Nu-X Ventures created to develop higher-margin proprietary products and brands Development 2019: Solace acquisition bolsters Nu-X Ventures team and brand portfolio; Vape distribution acquisitions streamlined SynergyRealization NewGen: Distribution and Nu-X Synergies 10 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

Nu-X CBDBroad portfolio of CBD products and form factorscurrently in over 6,600 locations* nationwide SolaceProduct portfolio includes e-liquids designed for open system vape devices and fast acting nicotine chew RipTideTobacco-free device. Gen. 2 device launch in Q2 of 2020 NewGen: Nu-X Brands Rev. Streams Wide range of products with a robust development pipeline Nu-X Ventures Brand Portfolio Nu-X DigitalBuilding and marketing digital sales channels forTPB brands along with enhancing social media and brand marketing outreach*As of 1Q20

TPB has unique capabilities to get proprietary brands through regulatory regime changesNewGen well-positioned for growth in a transformational post-PMTA environment REGULATORY STRATEGYTPB does not sell cigarettes, the primary target of the FDAWorking with FDA to drive expected pathway for future innovationExperienced team of QA, R&D, legal and scientific professionalsBuilding consensus among like-minded small and mid-sized businesses to drive policyRegulatory changes cause significant disruption among smaller companiesInvesting $15-18 million to support proprietary brands through the PMTA process TPB: Navigating Regulated Environments Turning Point Brands (NYSE: TPB) Management of Regulatory EnvironmentsExtensive experience managing regulatory regime changes 12 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

Total Sales and Segment Breakdown Segment Breakdown Turning Point Brands (NYSE: TPB) ($ in millions) 13 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | Smokeless Looseleaf $47 $49 $48 $46 MST 31 35 42 54 Total Smokeless $78 $85 $90 $100 Smoking US Papers $36 $38 $38 $38 Canadian Papers 11 12 14 11 Wraps 46 47 49 52 Other (Non-Core)* 18 14 10 7 Total Smoking $111 $110 $112 $109 Core Smoking $93 $96 $102 $102 Total NewGen $17 $91 $131 $153 Total Net Sales $206 $286 $333 $362 2016 2017 2018 2019 MST same store sales and distribution gains accelerating Stable results in Core Smoking products with new initiatives in place to boost growth Driving proprietary products through distribution assets *Other (Non-Core) includes de-emphasized low-margin products including MYO/pipe products (discontinued in 1Q20) and Cigars

TPB: Financial Summary Turning Point Brands (NYSE: TPB) TPB Earnings Performance $52.4MM $60.0MM $64.6MM $67.3MM 2016 2017 2018 2019 2020E Adjusted EBITDA $69-75MM* 14 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | *2020E estimate based on guidance provided on February 26, 2020 and re-affirmed on April 28, 2020

Initiatives: Building a Capital Efficient Business ModelAsset-light business model that generates significant free cash flow $49.2 $58.0 $62.3 $62.5 $26.6 $16.9 $14.8 $17.3 2016 2017 2018 2019 93.9% 96.6% 96.5% 92.8% ADJUSTED FREE CASH FLOW AND INTEREST EXPENSE Adjusted Free Cash FlowConversion: (2) ($ in millions) (1)Adjusted Free Cash Flow Interest Expense, Net Adjusted Free Cash Flow is calculated as Adjusted EBITDA less Capital Expenditures.Adjusted Free Cash Flow Conversion is calculated as (Adjusted EBITDA less Capital Expenditures) / Adjusted EBITDA. Outsourced manufacturing of all products except Stoker’s MST supports our asset-light modelFree cash flow conversion above 90%Re-investment of cash flow from the stable, traditional tobacco business into NewGen product segment creates self-funded growth engineCapital efficiency enables investment in sales force expansion (a proven revenue driver), working capital and infrastructure to support new product launches, accretive acquisitions and strategic investments Asset-Light Business Model Turning Point Brands (NYSE: TPB) 15 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

100,000+Bottles have been donated to: households, recognized medical institutions, hospitals, retail partners and elderly homes 900+Shipments made to different pharmacies, medical associations andnon-profit organizations. TPB added manufacturing capacity to produce and donate 100,000+ bottles of sanitizer to its local communities 2020 Community Initiative: Helping fight COVID-19 Our Community Initiative Turning Point Brands (NYSE: TPB) 16 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

FINANCIAL STRENGTHStrong balance sheet with capital flexibility for acquisitions and working capital investments REGULATORY STRENGTHSignificant experience navigating federal, state and local regulations for tobacco translates into alternatives products such as CBD SOURCING TEAMSourcing teams in China and across North American farm networks give us best-in- class products SALES FORCE & ROBUST E-COMMERCE ENGINETrusted relationships with retail world and eCommerce engine gets products into consumers’ hands INTEGRATEDDISTRIBUTIONConsolidated distribution into Kentucky with integrated systems(1-2 days across theU.S. at low rates) HANDS-ON MANAGEMENTManagement team is hands on with product development and go-to- market strategies WORLD CLASS GO-TO-MARKET STRATEGY How it all comes together Turning Point Brands (NYSE: TPB) 17 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

2020 In Focus: Strategies and Objectives 2020 Objectives Turning Point Brands (NYSE: TPB) Maximize the Core BusinessDrive Stoker’s MST growth through increased distribution and same store sales growthExpand Zig-Zag’s reach with new product introductions, channel specific strategies and e-commerce initiativesPosition NewGen for Profitable GrowthStreamline vaping, maintain profitability while investing in new products via the PMTA processIntroduce products from Nu-X Ventures into companywide distribution infrastructureDrive Cost EfficiencyIncreased operating leverage through solid cost controls and spending efficiencies to deliver higher ROICIntroduce Proprietary ProductsIdentify and develop emerging product forms that consumers are increasingly gravitating towardsEngage in Strategic AcquisitionsEfficiently deploy capital on accretive acquisitions to accelerate company growth 18 | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

Appendix Turning Point Brands (NYSE: TPB) | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M |

GAAP Reconciliation GAAP Reconciliation Turning Point Brands (NYSE: TPB) Reconciliation of GAAP Net Income to Adjusted EBITDA and Free Cash Flow($ in millions) 2016 2017 2018 2019 Net income attributable to Turning Point Brands, Inc. $26.9 $20.2 $25.3 $13.8 Add:Interest expense, net $26.6 $16.9 $14.8 $17.3 Loss on extinguishment of debt 2.8 6.1 2.4 1.3 Income tax expense (12.0) 7.3 6.3 2.0 Depreciation expense 1.2 1.6 2.1 2.6 Amortization expense 0.1 0.7 1.0 1.5 EBITDA $45.6 $52.8 $51.9 $38.6 Components of Adjusted EBITDA Other (a) $1.5 $1.3 $0.4 $0.4 Stock options, restricted stock, and incentives expense (b) 0.2 0.7 1.4 4.6 Transactional expenses and strategic initiatives (c) 1.6 2.1 4.5 1.8 New product launch costs (d) 2.7 2.4 1.8 6.2 FDA PMTA (e) 0.0 0.0 0.0 2.2 Corporate and vapor restructuring (f) 0.0 0.6 4.6 19.2 Vendor settlement (g) 0.0 0.0 0.0 (5.5) Bonus (h) 0.9 0.1 0.0 0.0 Adjusted EBITDALess: Capital ExpendituresAdjusted Free Cash Flow $52.4 $60.0 $64.6 $67.3 (3.2) (2.0) (2.3) (4.8)$49.2 $58.0 $62.3 $62.5 (a) Represents LIFO adjustment, non-cash pension expense (income) and foreign exchange hedging. (b) Represents non-cash stock options, restricted stock, incentives expense and Solace PRSUs.(c) Represents the fees incurred for transaction expenses and strategic initiatives. (d) Represents product launch costs for our new product lines.Represents costs associated with applications related to FDA PMTA.Represents costs associated with corporate and vapor restructuring including severance and inventory reserves. (g) Represents net gain associated with the settlement of a vendor contract.(h) Represents bonuses associated with the December 2017 Tax Cuts and Jobs Act and non-recurring compensation expenses incurred coinciding with the May 2016 IPO.| N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | 20

THANK YOU | N Y S E : T P B | 5 2 0 1 I N T E R C H A N G E W A Y , L O U I S V I L L E K Y | T U R N I N G P O I N T B R A N D S . C O M | Turning Point Brands (NYSE: TPB)

Turning Point Brands (TPB) 8-KTurning Point Brands Announces First Quarter 2020 Results