Requisition of General Meeting - Update

Oxford Cannabinoid Technologies Holdings plc announces that, following discussions with shareholders, it is already in receipt of irrevocable undertakings from holders of 446,632,048 ordinary shares of £0.01 each in the issued share capital of the Company ("Ordinary Shares"), representing approximately 46.5 per cent. of the issued share capital of the Company, to vote AGAINST the resolutions proposed by GHS Capital Limited ("GHS Capital") in its letter requisitioning a general meeting of the Company, as announced on 18 February 2022.

GHS Capital is the holder of 78,146,151 Ordinary Shares, representing approximately 8.14 per cent. of the issued share capital in the Company.

Given the above, and with the objective of saving administrative costs, the Company invited Mr Sathianathan, in his capacity as Chairman, CEO and Director of GHS Capital, to withdraw the requisition. Mr Sathianathan has not responded to such invitation and consequently the Company will publish a full circular, including a notice of general meeting (expected to be held on 06 April 2022), in due course.

Shareholders are advised to take no action at this time.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The Directors of the Company accept responsibility for the content of this announcement.