Old MAV Wind-Down Ltd. — Regulatory Filings 2021

Mar 31, 2021

FORM 13-502F1 CLASS 1 AND CLASS 3B REPORTING ISSUERS – PARTICIPATION FEE

MANAGEMENT CERTIFICATION

I, Judy Adam, an officer of the reporting issuer noted below have examined this Form 13-502F1 (the “Form”) being submitted hereunder to the Ontario Securities Commission and certify that to my knowledge, having exercised reasonable diligence, the information provided in the Form is complete and accurate.

(Signed) “Judy Adam” Name: Judy Adam Date: March 30, 2021 Title: Chief Financial Officer Reporting Issuer Name: MAV Beauty Brands Inc. End date of previous financial year: December 31, 2020 Type of Reporting Issuer: Class 1 reporting issuer Class 3B reporting issuer Highest Trading Marketplace: Toronto Stock Exchange (refer to definition of “highest trading marketplace” under OSC Rule 13-502 Fees )

Market value of listed or quoted equity securities:

Market value of listed or quoted equity securities:
(in Canadian Dollars – refer to section 7.1 of OSC Rule 13-502_Fees_)Equity SymbolMAV1st Specified Trading Period(dd/mm/yy) 01/01/20to(refer to definition of “specified trading period”under OSC Rule 13-502_Fees_)Closing price of the security in the class or series on the lasttrading day of the specified trading period in which such securitywas listed or quoted on the highest trading marketplaceNumber of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(i) x (ii)2nd Specified Trading Period(dd/mm/yy)01/04/20(refer to definition of “specified trading period”under OSC Rule 13-502 Fees)
		to

Closing price of the security in the class or series on the last $2.43 (iii) trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace

• 2 -

	Number of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(iii) x (iv)3rd Specified Trading Period(dd/mm/yy)01/07/20	Number of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(iii) x (iv)3rd Specified Trading Period(dd/mm/yy)01/07/20	Number of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(iii) x (iv)3rd Specified Trading Period(dd/mm/yy)01/07/20	Number of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(iii) x (iv)3rd Specified Trading Period(dd/mm/yy)01/07/20	Number of securities in the class or series of such securityoutstanding at the end of the last trading day of the specifiedtrading periodMarket value of class or series(iii) x (iv)3rd Specified Trading Period(dd/mm/yy)01/07/20
			$
				to
	(refer to definition of “specified trading period”under OSC Rule 13-502_Fees_)Closing price of the security in the class or series on the last		$	3.31	(v
	trading day of the specified trading period in which such securitywas listed or quoted on the highest trading marketplaceNumber of securities in the class or series of such securityoutstanding at the end of the last trading day of the specified		36,764,669
	trading period
	Market value of class or series(v) x (vi)4th Specified Trading Period(dd/mm/yy)01/10/20(refer to definition of “specified trading period”under OSC Rule 13-502_Fees_)	(v) x (vi)01/10/20	$121,691,054.39
				to	31/12/20
	Closing price of the security in the class or series on the lasttrading day of the specified trading period in which such securitywas listed or quoted on the highest trading marketplace		$	4.90	(v
	Number of securities in the class or series of such securit		36764669(
	outstanding at the end of the last tradingtrading periodMarket value of class or series	yday of the specified	,,
		(vii) x (viii)	$180,146,878.10
	5th Sifid Tdi Piddd

• 3 -

(Repeat the above calculation for each other class or series of equity securities of the reporting issuer (and a subsidiary pursuant to paragraph 2.8(1)(c) of OSC Rule 13-502 Fees , if applicable) that was listed or quoted on a marketplace at the end of the previous financial year)

Fair value of outstanding debt securities

(See paragraph 2.8(1)(b), and if applicable, paragraph 2.8(1)(c) of the OSC $n/a (2) Rule 13-502 Fees )

(Provide details of how value was determined)

Capitalization for the previous financial (1) + (2) $115,992,530.70 year

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----- Start of picture text ----- Participation Fee $13,340.00----- End of picture text -----

(For Class 1 reporting issuers, from Appendix A of OSC Rule 13-502 Fees , select the participation fee)

(For Class 3B reporting issuers, from Appendix A.1 of OSC Rule 13-502 Fees , select the participation fee)

Late fee, if applicable

(As determined under Section 2.7 of OSC Rule 13-502 Fees )

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----- Start of picture text ----- $n/a----- End of picture text -----

Total Fee Payable

(Participation Fee plus Late Fee)

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----- Start of picture text ----- $13,340.00----- End of picture text -----