Capital Change Notice – Burger Fuel Group Limited

Further to the Disclosure Document dated 23 October 2020 and disclosed through MAP (the Disclosure Document), Burger Fuel Group Limited (NZX:BFG) (BFG or the Company) advises of the following acquisition of securities under section 60(1)(b)(ii) of the Companies Act, clause 7 of the Company's constitution and NZX Listing Rule 4.14.1(b)(ii) (including in reliance on a waiver from NZX Regulation from NZX Listing Rule 4.14.1(b)(ii)(A) dated 23 October 2020). Section 1: Issuer information Name of issuer Burger Fuel Group Limited NZX ticker code BFG Class of financial product Ordinary shares ISIN (If unknown, check on NZX website) NZBFWE0001S6 Currency NZD Section 2: Capital change details Number issued/acquired/redeemed 3,333,332 ordinary shares (in aggregate) in the following amounts: (1) 1,538,461 ordinary shares; and (2) 1,794,871 ordinary shares. Nominal value (if any) Not applicable Issue/acquisition/redemption price per security As described in the Disclosure Document: (1) Attributing a nominal value of $0.39 per ordinary share (at an agreed settlement amount of $600,000.00); and (2) $0.39 per ordinary share (for a total cash payment of $700,000.00). Nature of the payment (for example, cash or other consideration) (1) No cash payment (as noted above); and (2) Cash payment. Amount paid up (if not in full) Not applicable Percentage of total class of Financial Products issued/acquired/redeemed/ (calculated on the number of Financial Products of the Class, excluding any Treasury Stock, in existence) The 3,333,332 ordinary shares (in aggregate) acquired were 6.2108% (to 4 d.p.) of the ordinary shares on issue prior to the acquisition. For an issue of Convertible Financial Products or Options, the principal terms of Conversion (for example the Conversion price and Conversion date and the ranking of the Financial Product in relation to other Classes of Financial Product) or the Option (for example, the exercise price and exercise date) Not applicable Reason for issue/acquisition/redemption and specific authority for issue/acquisition/redemption/ (the reason for change must be identified here) As described in the Disclosure Document, the Company has agreed to acquire a total of 3,333,332 fully paid ordinary shares in the Company held by Mason Roberts Holdings Limited that are beneficially owned by the Mason Family Trust pursuant to the terms of the buyback deed dated 23 October 2020 (as disclosed to the market in a substantial product holder notice dated, and submitted by BFG on, 23 October 2020) (the Buyback Offers). As further described in the Disclosure Document, BFG's Board considers that the Buyback Offers are in the best interest of the Company and its shareholders. Further details about the Buyback Offers are set out in the Disclosure Document and the NZX market announcement provided to the market on 23 October 2020. Total number of Financial Products of the Class after the issue/acquisition/redemption/Conversion (excluding Treasury Stock) and the total number of Financial Products of the Class held as Treasury Stock after the issue/acquisition/redemption. 50,336,863 ordinary shares In the case of an acquisition of shares, whether those shares are to be held as treasury stock No - the acquired shares will be cancelled immediately upon acquisition Specific authority for the issue, acquisition, or redemption, including a reference to the rule pursuant to which the issue, acquisition, or redemption is made Section 60(1)(b)(ii) of the Companies Act, clause 7 of the Company's constitution and NZX Listing Rule 4.14.1(b)(ii) (including in reliance on a waiver from NZX Regulation from NZX Listing Rule 4.14.1(b)(ii)(A) dated 23 October 2020). Written resolutions of the Directors dated 22 October 2020. Terms or details of the issue, acquisition, or redemption (for example: restrictions, escrow arrangements) The shares subject to the acquisition are ordinary shares ranking equally with all existing ordinary shares. They will be cancelled immediately upon acquisition. Date of issue/acquisition/redemption 11 November 2020 Section 3: Authority for this announcement and contact person Name of person authorised to make this announcement Mark Piet Contact person for this announcement Mark Piet Contact phone number (09) 360 6733 Contact email address Mark.Piet@Burgerfuel.com Date of release through MAP 11 November 2020 End CA:00363079 For:BFG Type:SECISSUE Time:2020-11-11 12:52:06