CANN GROUP LIMITED — Capital/Financing Update 2022

Apr 13, 2022

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ASX ANNOUNCEMENT

14 April 2022

Commercial production update

14 April 2022 – Cann Group Limited (ASX: CAN) ( Cann or the Company ) announced today that it has reached three significant production milestones:

• Commercial cultivation has now officially commenced at Cann’s newly constructed stateof-the-art glasshouse in Mildura. Since receiving the required permits from the Office of Drug Control in March, Cann has been proceeding with the transfer of genetic material from its Southern facility, culminating in the transplantation of the first commercial crop being completed yesterday. Approximately 4,000 cuttings were propagated in the Southern facility and transferred to Mildura for their vegetative growth phase prior to moving into the flowering room. This crop is expected to be harvested in June of this year.

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Some of the first commercial crop which has just been transplanted in to Cann’s Mildura facility

Cann Group Limited (ACN 603 949 739) 4 Research Avenue, Bundoora, VIC 3083 Australia Ph: +61 3 9095 7088

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Left: A Cann employee tends mother plants at the facility, and right, the specialised misting system at work

• Cann has also completed its first GMP release of dried flower products from its Southern facility in Melbourne. These products were all cultivated, harvested, packaged and released from Cann’s GMP facility, which was recently licensed by the Therapeutic Goods Administration. Demand for the dried flower product form remains high and Cann has increased production of its high THC cultivars to help meet this demand. Cann is well placed to increase the volume of this product form, with the aim of gaining greater market share.

• Finally, the Company is pleased to report that Satipharm CBD capsules are now being manufactured at the Mildura facility, in support of the S3 registration program for this product.

Cann’s Chief Operating Officer, Shane Duncan, said “With our Mildura facility now coming online, it is pleasing to see the company move to producing medicinal cannabis products at scale. Work is continuing in Mildura with the installation and commissioning of table automation and processing systems as the first commercial crop goes through vegetative and flowering stages over the coming weeks.”

Authorised for release by the Board of Directors of Cann Group Limited.

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For all media enquiries please contact:

Matthew Wright NWR Communications +61 451 896 420 matt@nwrcommunications.com.au

For all other information please contact:

Peter Crock Deborah Ambrosini CEO CFO Cann Group Limited Cann Group Limited +61 3 9095 7088 +61 3 9095 7088 contact@canngrouplimited.com deborah.ambrosini@canngrouplimited.com

About Cann Group

Cann Group Limited (ABN 25 603 949 739) is building a world-class business focused on breeding, cultivating, manufacturing and supplying medicinal cannabis for sale and use within Australia and for approved overseas export markets. Cann has established research, cultivation and GMP manufacturing facilities in Melbourne and a state-of-the-art cultivation and manufacturing facility near Mildura, Victoria. Cann Group’s leading position in plant genetics, breeding, extraction, analysis and production techniques supports its objective to supply high quality, safe medicinal cannabis for a range of diseases and medical conditions. Cann’s product portfolio incorporates the proprietary Satipharm delivery system for cannabinoids.

Learn more at: www.canngrouplimited.com | www.satipharm.com

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