Entry into Subscription Agreements

On 24 November Goodwood Capital Limited (NZX: GWC) released its Notice of Annual Meeting to the market. As signalled in resolution 7 of the Notice of Meeting, the Board is seeking approval to issue the following shares at an issue price of $0.02 per share: o Up to 6,250,000 new ordinary shares to wholesale investors; and o Up to 6,250,000 new ordinary shares to Mounterowen Limited. GWC is pleased to advise that: o it has entered into agreements with a number of wholesale investors to subscribe for 5,000,000 new ordinary shares in GWC at an issue price of $0.02 per share. The issue of these shares will raise $100,000 of new capital which will be applied towards funding the ongoing working capital requirements of GWC; and o It has also entered into an agreement with Mounterowen Limited to capitalise $100,000 of GWC's debt to Mounterowen's into 5,000,000 new ordinary shares in GWC at an issue price of $0.02 per share. The aforementioned subscription arrangements are conditional upon the shareholders of GWC approving the issue of the shares at the Annual Meeting to be held on 9 December 2020. End CA:00364143 For:GWC Type:ADMIN Time:2020-11-30 08:31:02