Sedar Filing FORM 62-103F3FORM 62-103F3 REQUIRED DISCLOSURE BY AN ELIGIBLE INSTITUTIONAL INVESTOR UNDER SECTION 4.5(d) Item 1 – Identity of the Eligible Institutional Investor 1.1 State the name and address of the eligible institutional investor. MM Asset Management Inc. (“MM Asset”) 161 Bay Street Suite 2240 Toronto, Ontario M5J 2S1 MMCAP International Inc. SPC (“MMCAP”) is an investment fund advised by MM Asset. Item 2 – Security and Reporting Issuer 2.1 State the designation of securities to which this report relates and the name and address of the head office of the issuer of the securities. Spectra7 Microsystems Inc. (the “Issuer”) 2550 North First Street Suite 500 San Jose, California 95131 U.S.A. This report relates to common shares (“Shares”) in the capital of the Issuer. 2.2 State the designation and number or principal amount of voting or equity securities of the reporting issuer in respect of which the report is being filed and the securityholding percentage of the eligible institutional investor in the class of securities. As at the end of October, 2020, MM Asset, on behalf of MMCAP, exercised control and direction over: (a) aggregate principal amount of $8,980,000 of 7% senior unsecured convertible debentures (“Debentures”) maturing on January 9, 2021 (the “Maturity Date”), each Debenture is convertible at the option of the holder into Shares prior to the Maturity Date at a conversion price of $0.35 per Share; and (b) 13,509,000 common share purchase warrants (“Warrants”), each Warrant is exercisable for one Share at a price of $0.50 per Share prior to January 9, 2021, representing approximately 6.19% of the Issuer’s 593,191,207 outstanding Shares as reported by the Issuer in its Management’s Discussion & Analysis dated August 28, 2020 and press release dated September 25, 2020, calculated on a partially diluted basis. 2 Item 3 – Statement of Eligibility 3.1 MM Asset is eligible to file reports under Part 4 of National Instrument 62-103. DATED this 10th day of November, 2020. MM ASSET MANAGEMENT INC. By: “Hillel Meltz” Hillel Meltz, President