SCHOOLBLAZER LIMITED — Capital/Financing Update 2021

Nov 1, 2021

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ASX ANNOUNCEMENT

BLC COSMETICS ACQUISITION COMPLETED

• Cellmid completed the acquisition of BLC Cosmetics Pty Ltd (BLC): Cellmid paid $1 million and issued 32,786,885 shares on settlement, completing the acquisition of 100% of BLC today, with an effective date of 1 October 2021.

• Cellmid shareholders approved the issuing of the shares: A general meeting of shareholders on 22 October 2021 approved the issuing of the 32,786,885 shares to HGL, the owner of BLC, representing 15% of the post-issue capital of Cellmid.

• BLC is profitable with around $7 million revenue[1] and growing : BLC’s revenue continued to grow in FY2021 despite a pandemic affected year, largely driven by its professional distribution channels.

• Major milestone in growth strategy: In addition to organic growth the merged businesses have complementary distribution channels and opportunities for cross selling into the respective professional and retail customer base.

• No capital raising. Cellmid is fully funded and made the $1 million payment from its own cash reserves.

SYDNEY, Tuesday, 2 November 2021: Cellmid Limited (ASX: CDY) is pleased to advise that it has completed the acquisition of BLC Cosmetics (BLC) pursuant to the share sale agreement (SSA) with HGL Limited (ASX: HNG), to acquire 100% of the shares in BLC Cosmetics Pty Ltd (BLC), pursuant to the terms announced to the market on 16 September 2021. The effective date of the transaction is 1 October 2021, which will result in three quarters of BLC’s results accruing to Cellmid in FY2022.

Cellmid paid $3 million today on completion of settlement (Tranche 1); $1 million in cash from the Company’s existing cash reserves and by the issuing of 32,786,885 shares at 6.1 cents each, representing $2 million, or 15% of the Company’s capital post issue. The shares are subject to a voluntary escrow agreement between HGL Limited and Cellmid for 24 months. The issuing of the shares to HGL Limited was approved by shareholders at the general meeting of the Company held on 22 October 2021. Integration of the businesses has commenced, and the Company will report on the progress in due course.

Approved for release by the Board of Directors.

Investor Enquiries:

The Capital Network Julia Maguire, Director T: +61 2 8999 3699 E: julia@thecapitalnetwork.com.au

1 BLC’s financial year ends 30 September 2021. The $7M revenue is unaudited.

CELLMID LIMITED ACN 111 304 119 ASX I CDY Suite 204, 55 Clarence Street, Sydney NSW 2000 AUSTRALIA TELEPHONE +61 2 9221 6830 FACSIMILE +61 2 9221 8535 WEB www.cellmid.com.au

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Cellmid Limited (ASX: CDY)

Cellmid is a health and beauty-tech business growing shareholder value through the global distribution and sales of its proprietary brands of differentiated, clinically validated anti-aging solutions and exclusive distribution of international cosmeceutical and wellness brands. For further information, please see www.cellmid.com.au, www.evolisproducts.com.au and www.blccosmetics.com.

Forward looking statements

This announcement may have forward-looking statements that are subject to risks and uncertainties. Such statements involve known and unknown risks that may cause the actual results, performance or achievements of Cellmid to be materially different from the statements in this announcement. Actual results could differ materially depending on factors such as the availability of resources, regulatory environment, the results of marketing and sales activities and competition.

CELLMID LIMITED ACN 111 304 119 ASX I CDY Suite 204, 55 Clarence Street, Sydney NSW 2000 AUSTRALIA TELEPHONE +61 2 9221 6830 FACSIMILE +61 2 9221 8535 WEB www.cellmid.com.au