Re-designation of Founder Preferred Shares

18 January 2019

Ocean Outdoor Limited

(the "Company")

Re-designation of Founder Preferred Shares

In accordance with the London Stock Exchange Admission and Disclosure Standards, the Company hereby confirms that pursuant to its articles of association, a tranche of 87,500 founder preferred shares have been automatically re-designated as ordinary shares on a one for one basis. This re-designation became effective on 15 January 2019.

Admission of the ordinary shares is expected to occur on 22 January 2019.

For further information please contact:

Yellow Jersey PR

Charles Goodwin, Georgia Colkin, Joe Burgess 07825 916 715