General Capital Limited — Director's Dealing 2021

Oct 8, 2021

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Ongoing Disclosure Notice

Disclosure of Directors and Senior Managers Relevant Interests

Sections 297(1) and 298(1), Financial Markets Conduct Act 2013

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----- Start of picture text ----- To NZX Limited; andName of listed issuer: General Capital Limited General Capital LimitedDate this disclosure made: 8/10/2021 8/10/2021Date of last disclosure: 28/09/2021 28/09/2021Director or senior manager giving disclosureFull name(s): Brent Douglas King Brent Douglas KingName of listed issuer: General Capital Limited General Capital LimitedName of related body corporate (if applicable): N/A N/APosition held in listed issuer: Director Director----- End of picture text -----

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----- Start of picture text ----- Summary of acquisition or disposal of relevant interest (excluding specified derivatives)Class of affected quoted financial products: Ordinary Shares Ordinary SharesRegistered owner andbeneficial ownerNature of the affected relevant interest(s):Brent King as sole director of Barter Investments Limited has the power to exercise therights (including voting rights) of the General Capital Limited Ordinary Shares held byBarter Investments Limited.For that relevant interest-Number held in class before acquisition or disposal: 21,948,650 3,562,470-Number held in class after acquisition or disposal: 22,115,317Current registered holder(s): Barter Investments Limited Barter Investments Limited1. 1,333,333 ordinary shares transferred to SAJE Limited.2. 1,000,000 ordinary shares transferred to Anthony Edwin Falkenstein and HeatherJeanette Falkenstein.Registered holder(s) once transfers are registered: 3. 666,667 ordinary shares transferred to the Paretovich Bartlett Family Trust.4. 229,136 ordinary shares transferred to Josephine Hanham and Noel Hanham5. 166,667 ordinary shares transferred to Garth William Ward.Brent Douglas King 6. 166,667 ordinary shares transferred to Brent Douglas King.----- End of picture text -----

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----- Start of picture text ----- Summary of acquisition or disposal of specified derivatives relevant interest (if applicable)Type of affected derivative:Class of underlying financial products:Details of affected derivative-The notional value of the derivative (if any) or the notionalamount of underlying financial products (if any):A statement as to whether the derivative is cash settled orphysically settled:Maturity date of the derivative (if any):Expiry date of the derivative(if any):The price specified in the terms of the derivative (if any):Any other details needed to understand how the amount ofthe consideration payable under the derivative or the valueof the derivative is affected by the value of the underlyingfinancial products:For that derivative,-Parties to the derivative:If the director or senior manager is not a party to thederivative, the nature of the relevant interest in thederivative:Details of transactions giving rise to acquisition or disposalTotal number of transactions to which notice relates: 1 Transaction 6 TransactionsDetails of transactions requiring disclosure-Date of transaction: 8/10/2021 8/10/2021Nature of transaction:1. 1,333,333 ordinary shares transferred to SAJE Limited.2. 1,000,000 ordinary shares transferred to Anthony Edwin Falkenstein and HeatherJeanette Falkenstein.3. 666,667 ordinary shares transferred to the Paretovich Bartlett Family Trust.4. 229,136 ordinary shares transferred to Josephine Hanham and Noel HanhamName of any other party or parties to the transaction (if 5. 166,667 ordinary shares transferred to Garth William Ward.known): Barter Investments Limited 6. 166,667 ordinary shares transferred to Brent Douglas King.The consideration, expressed in New Zealand dollars, paid None. Transfer done as part None. Transfer done as part of winddown of Barter Investements Limited.or received for the acquisition or disposal. If the of winddown of Barterconsideration was not in cash and cannot be readily by Investements Limited.converted into a cash value, describe the consideration:----- End of picture text -----

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----- Start of picture text ----- Number of financial products to which the transaction 166,667 3,562,470related:If the issuer has a financial products trading policy that prohibits directors or senior managers from trading during any period without written clearance (a closed period) include the followingdetails—Whether relevant interests were acquired or disposed ofduring a closed period: Yes YesWhether prior written clearance was provided to allow theacquisition or disposal to proceed during the closed period:Yes YesDate of the prior written clearance (if any): 8/10/2021 8/10/2021Summary of other relevant interests after acquisition or disposal:Class of quoted financial products: GENWB WarrantsRegistered owner andNature of relevant interest: beneficial ownerFor that relevant interest,-Number held in class: 53,897,300Current registered holder(s): Brent Douglas King(a) 53,897,300 GENWBwarrants (conversion ratio ofone ordinary share for everyThe notional value of the derivative (if any) or the notional one warrant held if exercised)amount of underlying financial products (if any): (b) 4,250,000 June 2023Warrants.(c) 4,250,000 June 2024Warrants.A statement as to whether the derivative is cash settled orCash Settledphysically settled:(a) Last exercise date of30/11/2021(b) Last exercise date ofMaturity date of the derivative (if any):30/06/2023(c) Last exercise date of30/06/2024----- End of picture text -----

Expiry date of the derivative (if any):

The price's specified terms (if any):

Any other details needed to understand how the amount of the consideration payable under the derivative or the value of the derivative is affected by the value of the underlying financial products: For that derivative relevant interest,- Parties to the derivative:

If the director or senior manager is not a party to the derivative, the nature of the relevant interest in the derivative:

(a) Last exercise date of 30/11/2021 (b) Last exercise date of 30/06/2023 (c) Last exercise date of 30/06/2024 (a) 9.00 cents per share on the exercise of each warrant (b) 8.00 cents per share on the exercise of each warrant (c) 9.00 cents per share on the exercise of each warrant

N/A Brent Douglas King N/A

Certification

I, certify that, to the best of my knowledge and belief, the information contained in this disclosure is correct and that I am duly authorised to make this disclosure by all persons for whom it is made.

Signature of director or officer:

Date of signature: or Signature of person authorised to sign on behalf of director or officer: Date of signature: Name and title of authorised person:

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