Marlin Global Limited — Capital/Financing Update 2019

Mar 17, 2019

Marlin Global Limited Phone +64 9 484 0365 Fax +64 9 489 7139 Private Bag 93502 Takapuna, Auckland 0740

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Dear Warrant Holder,

EXERCISE OF MARLIN GLOBAL WARRANTS (MLNWC) – 12 APRIL 2019.

The final exercise price of Marlin Global warrants is $0.75.

As the MLNWC warrant exercise date of 12 April 2019 is approaching, you have the following choices with your warrants:

• You can elect to exercise some or all of your warrants (subject to a minimum exercise of 500 warrants) on 12 April 2019 at the final Exercise Price.

• You can seek to sell or transfer your warrants on the NZX Main Board until 5.00pm 10 April 2019 .

• You can elect to not exercise any warrants on 12 April 2019 and allow the warrants to lapse.

Any warrants not exercised by 5.00pm on 12 April 2019 will lapse and all rights relating to the warrants will expire.

What do I do if I wish to exercise my warrants?

If you wish to exercise some or all of your warrants (subject to a minimum exercise of 500 warrants), you should:

• complete the Exercise Form in accordance with the instructions set out on that form;

• pay the Exercise Price required to be paid in accordance with the payment instructions set out below; and

• return your completed Exercise Form and your payment to the Registrar, or your broker, in sufficient time for the documents to be forwarded to and received by the Registrar no later than 5.00pm on 12 April 2019 .

Payment Options

• Payment must be made in full by paying the Exercise Price of $0.75 per warrant that you wish to exercise.

• Payment is to be made in New Zealand dollars by direct credit, cheque or by such other method of payment as agreed as acceptable to Marlin Global.

• If there is a discrepancy between the amount of application monies (by way of direct credit or cheque) and the number of warrants being exercised as indicated on your Exercise Form, Marlin Global will treat the application as being for the number of warrants being exercised as the application monies will pay for.

Direct credit	Payment can be made by direct credit to the Marlin Global Limited Warrant Account. Pleaseinclude your CSN number as the deposit reference. If paying by direct credit you may emailyour completed Exercise Form tomarlin@computershare.co.nz Payment should be made to the following account:Bank: ASB BANK LIMITED BRANCH: CORPORATE BANKINGAccount Number: 12-3244-0022496-01
Cheque	Payment can be made by cheque. Please make cheques out to “Marlin Global Limited” andcrossed “Not Transferable”. Please attach your cheque to your completed Exercise Form andpost to:Computershare Investor Services Limited159 Hurstmere RoadTakapunaPrivate Bag 92119Auckland 1142New Zealand

Yours sincerely

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Alistair Ryan

Chair, Marlin Global Limited