CLS Holdings Regulatory News (CLI)

Release date: 15 December 2020

Embargoed until: Immediate Release

CLS Holdings plc (the "Company", or "CLS")

Announcement of death of Mr Sten Mortstedt

It is with great sadness that CLS announces the death of Mr Sten Mortstedt, Founder and Executive Director today at the age of 80.

Mr Mortstedt established CLS in 1987 after more than 25 years in property, initially with Svenska Handelsbanken in Stockholm and then at Citadellet AB. Since 1987, Sten dedicated himself to CLS which he built into a FTSE250 company with assets of more than £2.1 billion and a strong track record of delivering superior shareholder returns.

The Sten Mortstedt Family and Charity Trust (the "Trust"), which owns 51.46% of the Company, has assured the Board that it remains committed to CLS, and will continue to be represented on the Board by Anna Seeley, Non-Executive Vice Chair.

Mr Lennart Sten, Chairman of CLS, commented

"Sten was a remarkable businessman and friend, and delivered significant long-term value for all our shareholders. He will be deeply missed by everyone at CLS and our thoughts are with his family."

Anna Seeley, Non-Executive Vice Chair of CLS and Board member of the Trust, commented

"This is truly a sad day for our family and we will miss him dearly. My Father was an inspirational man whose legacy will live on through the businesses he created, and the charities he supported. The Trust will continue to support CLS, which it believes has a strong leadership team in place to deliver significant long-term value for CLS's shareholders."

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For further information, please contact:

CLS Holdings plc

(LEI: 213800A357TKB2TD9U78)

www.clsholdings.com

Fredrik Widlund, Chief Executive Officer

Andrew Kirkman, Chief Financial Officer

+44 (0)20 7582 7766

Liberum Capital Limited

Richard Crawley

Jamie Richards

+44 (0)20 3100 2222

Panmure Gordon

Hugh Rich

+44 (0)20 7886 2733

Elm Square Advisers Limited

Jonathan Gray

+44 (0)20 7823 3695

Smithfield Consultants (Financial PR)Alex Simmons

Rob Yates

+44 (0)20 3047 2546