OliveX : Issue of Shares and Cleansing Notice

OliveX Holdings Limited

AMP Tower,

Level 28,

140 St Georges Terrace

Perth WA 6000

ACN 631 675 986

NSX Release

Issue of Shares and Cleansing Statement

2 December 2021 - The Board of OliveX Holdings Limited (NSX: OLX) ("the Company") advises that it has issued 8,000,000 fully paid ordinary shares (Shares) to certain key strategic and institutional investors including Animoca Brands, One Football and Bombora Investment Management.

The Company further advises the following:

• 7,961 Shares have also been issued to CHAN WING KAI for the settlement of services provided;
• 65,000 performance rights have been issued to LCP Corporate Pty Ltd in connection with their company secretarial services to the Company; and
• 310,000 Director options expired on 26 August 2021.

The Company hereby gives notice that:

1. the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;
2. this notice if being given under section 708A(5)(e) of the Act;
3. as at the date of this notice the Company has complied with:
4. 1. the provisions of Chapter 2M of the Act as they apply to the Company; and
   2. section 674 of the Act; and
   3. as at the date of this notice, there is no information that is "excluded information" within the meaning of Section 708A(7) and 708A(8) of the Act.

The notice has been authorised for release to the NSX by the Company, on behalf of the Board.

ENDS

Marshall Lee

Company Secretary

Doc ID: 80301220f13f4842b1010dda49219bd2365e7575

About OliveX and OliveX BVI

OliveX (NSX:OLX) is a leading health and fitness company, based in Hong Kong, which is behind successful consumer and enterprise fitness technology such as 22 Push Ups, KARA Smart and Volution Fitness. OliveX combines gamification with artificial intelligence and premium content to motivate and engage itsconsumers and link them to brands, influencers and fitness coaches. OliveX works with global health and fitness brands such as Les Mills and Gold's Gyms and fitness apparel company Gym Aesthetics.

OliveX (BVI) Limited, a wholly-owned subsidiary of OliveX registered in the British Virgin Islands, is building a fitness metaverse where players can work out at home, in the gym, or outdoors to gain in-game rewards. These experiences are linked with its newly launched DOSE token, which is designed to be rewarded and spent across OliveX platforms, including 22 Push Ups and KARA Smart.

Disclaimer

Restrictions due to compliance regulations for different jurisdictions apply. The $DOSE token will not be offered to residents of Australia, China, the United States of America, South Korea, Nepal, Bangladesh, Macedonia, Bolivia, Ecuador, India, Pakistan, Algeria, and Morocco. The $DOSE token team and its affiliates do not bear legal responsibilities in the case that individuals refuse to comply with international laws applicable to their respective jurisdictions. The $DOSE team is not liable for any loss or legal liability incurred in the event that individuals violate the terms of their respective jurisdictions. Please consult the respective laws governing your region for the most accurate information.

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Doc ID: 80301220f13f4842b1010dda49219bd2365e7575