Spin Master Corp. — Capital/Financing Update 2022

Nov 12, 2022

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Reference: 77008/23

November 11, 2022

VIA SEDAR

To the Securities Regulatory Authorities in each of the Provinces and Territories of Canada

Re: Prospectus Supplement of Spin Master Corp. (the “Corporation”) dated November 11, 2022

Dear Mesdames/Sirs:

We refer to the prospectus supplement dated November 11, 2022 to the short form base shelf prospectus of the Corporation dated November 2, 2021 (the “ Prospectus Supplement ”) relating to a secondary offering by Trumbanick Investments Ltd. of 1,900,000 subordinate voting shares of the Corporation.

We hereby consent to (i) the references to our firm name on the cover page and under the headings “Eligibility for Investment” and “Legal Matters” in the Prospectus Supplement, and (ii) the inclusion of our opinion (the “ Opinion ”) dated as of November 11, 2022 under the heading “Eligibility for Investment” in the Prospectus Supplement.

We confirm that we have read the Prospectus Supplement and have no reason to believe that there are any misrepresentations in the information contained in the Prospectus Supplement that are derived from the Opinion or that are within our knowledge as a result of the services we performed in connection with the Opinion.

Yours very truly,

“ Blake, Cassels & Graydon LLP ”

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13165377.2