General Capital Limited — Share Issue/Capital Change 2021

Apr 1, 2021

General Capital Limited Capital Change Notice

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----- Start of picture text ----- Section 1: Issuer informationName of issuer General Capital LimitedNZX ticker code GENClass of financial product Ordinary SharesISIN (If unknown, check on NZX website) NZMYKE0001S9Currency NZ$Section 2: Capital change detailsNumber issued 1,216,136Nominal value (if any) Not applicableIssue price per security $0.0625Nature of the payment (for example, cash or other Cashconsideration)Amount paid up (if not in full) Paid in fullPercentage of total class of Financial Products 0.7523%issued/acquired/redeemed/ (calculated on the number ofFinancial Products of the Class, excluding any Treasury Stock,in existence) [1]For an issue of Convertible Financial Products or Options, the Not applicableprincipal terms of Conversion (for example the Conversionprice and Conversion date and the ranking of the FinancialProduct in relation to other Classes of Financial Product) or theOption (for example, the exercise price and exercise date)Reason for issue and specific authority for issue (the reason The shares were issued underfor change must be identified here) a placement to a wholesaleinvestor to expand GeneralCapital’s working capital.Approved by a DirectorsResolution dated 31 March2021 and issued inaccordance with Listing Rule4.5.Total number of Financial Products of the Class after the issue 162,873,779(excluding Treasury Stock) and the total number of FinancialProducts of the Class held as Treasury Stock after the issue.In the case of an acquisition of shares, whether those shares Not applicableare to be held as treasury stockSpecific authority for the issue, acquisition, or redemption, Approved by a Directorsincluding a reference to the rule pursuant to which the issue, Resolution dated 31 Marchacquisition, or redemption is made 2021 and issued inaccordance with Listing Rule4.5.----- End of picture text -----

1 The percentage is to be calculated immediately before the issue, acquisition, redemption or Conversion.

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----- Start of picture text ----- Terms or details of the issue, acquisition, or redemption (for The new shares will rankexample: restrictions, escrow arrangements) equally with all other fully paidshares on issueDate of issue 31/03/2021Section 3: Authority for this announcement and contact personName of person authorised to make this announcement Jonathan ClarkContact person for this announcement Brent KingContact phone number +64 21 632 660Contact email address Brent.King@gencap.co.nzDate of release through MAP 01/04/2021----- End of picture text -----