CANN GROUP LIMITED — Capital/Financing Update 2020

Jul 21, 2020

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22 July 2020

ASX Market Announcements Office ASX Limited Level 4 North Tower, Rialto 525 Collins Street Melbourne Victoria 3000

Attention: Ms Melissa Kostopoulos

Dear Melissa

Shares to be issued under Share Purchase Plan (SPP)

Notice in accordance with ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547

This notice is given by Cann Group Limited (ACN 603 949 739) ( Issuer ) in accordance with ASIC Corporations (Share and Interest Purchase Plans) Instrument 2019/547 ( Instrument ).

The Issuer intends to issue up to approximately 25,000,000 fully paid ordinary shares ( Shares ) at an issue price of A$0.40 per Share to eligible shareholders under the SPP offer announced by the Issuer on 17 July 2020, in respect of which offers will be dispatched today.

The Issuer advises that:

• (a) the Shares the subject of this notice will be issued under a share purchase plan without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) ( Corporations Act );

• (b) this notice is being given in accordance with the Instrument;

• (c) as at the date of this notice, the Issuer has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Issuer; and

  • (ii) section 674 of the Corporations Act; and

• (d) as at the date of this notice, there is no information that is "excluded information" within the meanings of sections 708A(7) and 708A(8) of the Corporations Act.

Yours sincerely

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Geraldine Farrell

Company Secretary Cann Group Limited

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