ECS BOTANICS HOLDINGS LTD — Capital/Financing Update 2021

Apr 21, 2021

ASX Announcement 22 April 2021

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Entitlement Issue: Shortfall Notice

ECS Botanics Holdings Ltd (ASX: ECS or Company) advises that the pro-rata non-renounceable entitlement offer (“ Entitlement Offer ”) announced to the ASX on 18 March 2021, closed on 19 April 2021.

The Entitlement Offer offered eligible shareholders registered on the Record Date the ability to subscribe for one (1) new share (“ New Share” ) for every seventeen (17) existing shares held, at an issue price of $0.05 (5 cents) per share raising up to $2,279,071 (before expenses) (less costs of the Entitlement Offer).

Total applications for the New Shares raising gross proceeds of $398,162.05 were received. The New Shares will be issued, as per the timetable for the Entitlement Offer.

The results of the Entitlement Offer are as follows;

• Number of New Shares: 7,963,241

• Shortfall: 37,620,099

• Total Number of New Shares: 45,561,168

In accordance with the Entitlement Offer document, the directors reserve the right to place any shortfall at their discretion. Xcel Capital Pty Ltd and Sanlam Private Wealth were appointed Joint Lead Managers (“ Joint Lead Manager” or “JLM” ) to the Entitlement Offer and shortfall offer. The directors in consultation with the JLM’s have three months after the closing date of the offer being 19 July 2021 to place the shortfall should they elect to do so.

About ECS Botanics

ECS Botanics is a vertically integrated medicinal cannabis and industrial hemp business. The company owns farms and medicinal cannabis facilities in Tasmania and Victoria for the cultivation, processing, and manufacturing of medicinal cannabis. ECS manufacturers to EU GMP standards and also has the necessary licenses to cultivate and manufacture medicinal cannabis for the wholesale extract, final dose and premium dry flower market. ECS cultivates hemp for the wholesale market and its retail food and wellness brand, while having obtained all the necessary licenses to grow, supply and manufacture. ECS’s core focus is scale and low cost production, without compromising quality.

ECS Botanics Holdings Ltd ACN 009 805 298 Suite 2 Level 15, 3 Spring St Sydney NSW 2000 - GPO Box 5216 George Street Mail Centre 2001 Cressy TAS 7302 reception@ecsbotanics.com.au - www.ecsbotanics.com.au

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For further information, please contact:

Alexander Keach Managing Director alex@ecsbotanics.com.au +61 419 323 059

Authorised on behalf of ECS by Alex Keach, Managing Director

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