Nexe Innovations Inc. — Capital/Financing Update 2021

Apr 12, 2021

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1 . Name and Address of Company NEXE INNOVATIONS INC. 109 – 19355 22[nd] Avenue Surrey, BC V3Z 3S6 Item 2 . Date of Material Change April 9, 2021 Item 3 . News Release The news release was issued on April 9, 2021 and was disseminated by Cision. Item 4 . Summary of Material Change

On April 9, 2021 Nexe Innovations Inc. (the “Company”) announced that it has closed its previously announced bought deal public offering of units of the Company with a syndicate of underwriters led by Canaccord Genuity Corp. The Underwriters exercised the overallotment in full and as a result the Company issued a total of 17,250,000 units at a price of C$2.00 per unit for aggregate proceeds to the Company of C$34,500,000.

Item 5 . Full Description of Material Change

The Company completed a bought deal public offering of units of the Company (the “Units”) with a syndicate of underwriters led by Canaccord Genuity Corp. (the “Underwriters”). The Underwriters exercised the over-allotment in full and as a result the Company issued a total of 17,250,000 Units at a price of C$2.00 per Unit for aggregate proceeds to the Company of C$34,500,000 (the “Proceeds”).

Each Unit consists of one common share of the Company (a "Common Share") and onehalf of one Common Share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable to acquire one Common Share (a "Warrant Share") until April 9, 2023 at an exercise price of C$2.50 per Warrant Share.

The Company paid the syndicate of Underwriters a cash commission of $1,905,000 and issued to the Underwriters an aggregate of 952,500 underwriter warrants, each exercisable into one Common Share at a price of C$2.00 per Common Share until April 9, 2023.

The proceeds of the Offering will be used to increase production capacity, strategic acquisitions, new product developments and for general corporate purposes.

The Units were issued pursuant to a prospectus supplement dated April 7, 2021 that is filed with the securities regulatory authorities in all provinces of Canada except Quebec under Company’s base shelf prospectus dated March 29, 2021.

Item 6 . Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

Item 7 . Omitted Information

None.

Item 8 . Executive Officer

Ash Guglani President and Director

-2-

(604) 359-4725

Item 9 . Date of Report April 12, 2021