General Capital Limited — Share Issue/Capital Change 2021

Jul 1, 2021

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Capital Change Notice

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----- Start of picture text ----- Section 1: Issuer informationName of issuer General Capital LimitedNZX ticker code GENWBClass of financial product 30/11/2021 $0.09 WarrantsISIN (If unknown, check on NZX website) NZGENE0007S4Currency NZDSection 2: Capital change detailsNumber issued/acquired/redeemed 2,250,000 GENWB Warrantsissued to Directors and SeniorManagers of General CapitalLimited or any of itssubsidiaries (includingcontractors, consultants,consultant companies, and anytrustee or trustees of or for anyof the foregoing persons)Nominal value (if any) Warrants exercisable at 9cents per share for eachwarrant exercised any time onor before 30 November 2021.Issue/acquisition/redemption price per security Under the terms of the offerdocument, the Warrants hadno issue price.Warrants exercisable at 9cents per share for eachwarrant exercised any time onor before 30 November 2021.Nature of the payment (for example, cash or other Not applicableconsideration)Amount paid up (if not in full) NilPercentage of total class of Financial Products 0.70%issued/acquired/redeemed/ (calculated on the number ofFinancial Products of the Class, excluding any Treasury Stock,in existence)For an issue of Convertible Financial Products or Options, the Warrants can be exercised anyprincipal terms of Conversion (for example the Conversion time on or before 30 Novemberprice and Conversion date and the ranking of the Financial 2021 at 9 cents per share forProduct in relation to other Classes of Financial Product) or the each warrant as described inOption (for example, the exercise price and exercise date) the offer documentReason for issue/acquisition/redemption and specific authority Issue approved by the Boardfor issue/acquisition/redemption/ (the reason for change must in accordance with thebe identified here) shareholders resolution atspecial meeting 29 November2018.----- End of picture text -----

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----- Start of picture text ----- Total number of Financial Products of the Class after the 322,984,884issue/acquisition/redemption/Conversion (excluding TreasuryStock) and the total number of Financial Products of the Classheld as Treasury Stock after the issue/acquisition/redemption.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, Shareholders resolution atincluding a reference to the rule pursuant to which the issue, special meeting 29 November2018acquisition, or redemption is madeTerms or details of the issue, acquisition, or redemption (for Warrants can be exercised anyexample: restrictions, escrow arrangements) time on or before 30 November2021 at 9 cents per share foreach warrant as described inthe offer documentDate of issue/acquisition/redemption 30/06/2021Section 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 1/07/2021----- End of picture text -----