General Capital Limited — Share Issue/Capital Change 2021

Sep 28, 2021

Capital Change Notice

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Section 1: Issuer information
Name of issuer	General Capital Limited
NZX ticker code	GEN
Class of financial product	Ordinary Shares
ISIN (If unknown, check on NZX website)	NZMYKE0001S9
Currency	NZ$
Section 2: Capital change details
Number issued	8,333,333
Nominal value (if any)	Not applicable
Issue price per security	$0.0600
Nature of the payment (for example, cash or other consideration)	Cash
Amount paid up (if not in full)	Paid in full
Percentage of total class of Financial Products issued (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence)	5.116%
For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date)	N/A
Reason for issue and specific authority for issue (the reason for change must be identified here)	Issue of ordinary shares to Borneo Capital Limited. The share issue was authorised by Directors resolutions dated 27 September 2021 in accordance with the shareholders resolution passed at the adjourned annual meeting on 3 September 2021 for the purposes of NZX rule 4.1.1 and rule 7(d) of the takeovers code.
Total number of Financial Products of the Class after the issue (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue.	171,207,112
In the case of an acquisition of shares, whether those shares are to be held as treasury stock	N/A
Specific authority for the issue, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made	The share issue was authorised by Directors resolutions dated 27 September 2021 in

	accordance with the shareholders resolution passed at the adjourned annual meeting on 3 September 2021 for the purposes of NZX rule 4.1.1 and rule 7(d) of the takeovers code.
Terms or details of the issue (for example: restrictions, escrow arrangements)	New ordinary shares which rank equally with all other fully paid ordinary shares
Date of issue	27/09/2021
Section 3: Authority for this announcement and contact person
Name of person authorised to make this announcement	Jonathan Clark
Contact person for this announcement	Brent King
Contact phone number	+64 21 632 660
Contact email address	Brent.King@gencap.co.nz
Date of release through MAP	28/09/2021