Document:

SIGNING DEBENTURE

 

NEITHER THESE SECURITIES NOR
THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR
THE SECURITIES COMMISSION OF ANY STATE OR UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES ARE RESTRICTED AND MAY NOT
BE OFFERED, RESOLD, PLEDGED OR TRANSFERRED EXCEPT AS PERMITTED UNDER THE ACT PURSUANT TO REGISTRATION REQUIREMENTS THEREOF OR EXEMPTION
THEREFROM.

 

 

AB INTERNATIONAL GROUP
CORP.

 

CONVERTIBLE DEBENTURE
DUE DECEMBER 9, 2022

 

Issuance Date: December 9, 2019Principal
Amount: $85,000.00

 

FOR VALUE RECEIVED, AB INTERNATIONAL
GROUP CORP., a

corporation organized and existing
under the laws of the State of Nevada (the “Company”), hereby promises to pay to PEAK ONE OPPORTUNITY FUND, L.P.,
having its address at 333 South Hibiscus Drive, Miami Beach, FL 33139, or its assigns (the “Holder” and together with
the other holders of Debentures issued pursuant to the Securities Purchase Agreement (as defined below), the “Holders”),
the initial principal sum of Eighty Five Thousand and 00/100 Dollars ($85,000.00) (subject to adjustment as provided herein, the
“Principal Amount”) on December 9, 2022 (the “Maturity Date”). The Company has the option to redeem this
Debenture prior to the Maturity Date pursuant to Section 2(b). All unpaid principal due and payable on the Maturity Date shall
be paid in the form of Common Stock of the Company, par value $0.001 per share (“Common Stock”) pursuant to the terms
of this Debenture. The Holder has the option to cause any outstanding principal and accrued interest, if any, on this Debenture
to be converted into Common Stock at any time.

 

This Debenture
is one of the Debentures referred to in the securities purchase agreement (the “Securities Purchase Agreement”) dated
as of December 9, 2019, between the Company and the Holder. Capitalized terms used but not defined herein shall have the meanings
set forth in the Securities Purchase Agreement. This Debenture is also subject to the provisions of the Securities Purchase Agreement
and further is subject to the following additional provisions:

 

1.    
This Debenture has been issued subject to investment representations of the original purchaser
hereof and may be transferred or exchanged only in compliance with the Securities Act and other applicable state and foreign securities
laws. The Holder may transfer or assign this Debenture (or any part thereof) without the prior consent of the Company, and the
Company shall cooperate with any such transfer. In the event of any proposed transfer of this Debenture, the Company may require,
prior to issuance of a new Debenture in the name of such other Person, that it receive reasonable transfer documentation including
legal opinions that the issuance of the Debenture in such other name does not and will not cause a violation of the Securities
Act or any applicable state or foreign securities laws or is exempt from the registration requirements of the Securities Act. Prior
to due presentment for transfer of this Debenture to

 

    	 		 

    	 

    

 

which the Company has consented,
the Company and any agent of the Company may treat the Person in whose name this Debenture is duly registered on the Company's
books and records of outstanding debt securities and obligations (“Debenture Register”) as the owner hereof for the
purpose of receiving payment as herein provided and for all other purposes, whether or not this Debenture be overdue, and neither
the Company nor any such agent shall be affected by notice to the contrary. In addition to all other rights provided in this Debenture,
the Holder shall also have an unlimited number of exchange rights which are options and not obligations to exchange all or a portion
of this Debenture into any transaction consummated by the Company with any individual or entity (an “Other Investor”).
At the time of such transaction, and in addition to all other rights provided in this Debenture, the Holder would have the option
of either (a) retaining the Debenture or one of the previous transactions into which the Holder previously exchanged into, or (b)
exchanging the Debenture or such previous transaction into which they exchanged, into the transaction consummated with an Other
Investor.

 

		2.	Conversion at Holder’s Option; Redemption at Company’s Option.

 

a.     
The Holder is entitled to, at any time or from time to time, convert the Conversion Amount (as defined below) into Conversion
Shares, at a conversion price for each share of Common Stock (the “Conversion Price”) equal to the lesser of (a)
$10.00 or (b) Sixty percent (60%) of the lowest closing bid price (as reported by Bloomberg LP) of the Common Stock for the
twenty (20) Trading Days immediately preceding the date of the date of conversion
of the Debentures (provided, further, that if either the Company is not DWAC Operational at the time of conversion or the
Conversion Price is less than $0.01 per share, then Sixty percent (60%) shall automatically adjust to Fifty percent (50%) of
the lowest closing bid price (as reported by Bloomberg LP) of the Common Stock for the twenty (20) Trading Days
immediately preceding the date of conversion of the Debenture), subject in each case to equitable adjustments resulting from
any stock splits, stock dividends, recapitalizations or similar events. The Company shall issue irrevocable instructions to
its Transfer Agent regarding conversions such that the transfer agent shall be authorized and instructed to issue Conversion
Shares upon its receipt of a Notice of Conversion without further approval or authorization from the Company. For purposes of
this Debenture, the “Conversion Amount” shall mean the sum of (A) all or any portion of the outstanding Principal
Amount of this Debenture, as designated by the Holder upon exercise of its right of conversion plus (B) any interest,
pursuant to Section 10 or otherwise, that has accrued on the portion of the Principal Amount that has been designated for
payment pursuant to (A).

 

Conversion
shall be effectuated by delivering by facsimile, email or other delivery method to the Transfer Agent of the completed form of
conversion notice attached hereto as Annex A (the “Notice of Conversion”), executed by the Holder of the Debenture
evidencing such Holder's intention to convert this Debenture or a specified portion hereof. No fractional shares of Common Stock
or scrip representing fractions of shares will be issued on conversion, but the number of shares issuable shall be rounded to the
nearest whole share. The Holder may, at its election, deliver a Notice of Conversion to either the Company or the Transfer Agent.
The date on which notice of conversion is given (the “Conversion Date”) shall be deemed to be the date on which the
Company or the Transfer Agent, as the case may be, receives by fax, email or other means of delivery used by the Holder the Notice
of Conversion (such receipt being evidenced by electronic confirmation of delivery by facsimile or email or confirmation of delivery
by such other delivery method used by the Holder). Delivery of a Notice of Conversion to the Transfer Agent may be given by the
Holder by facsimile, or by delivery to the Transfer

 

    	 	2	 

    	 

    

 

Agent at the address set forth
in the Transfer Agent Instruction Letter (or such other contact facsimile number, email
or street address as may be designated by the Transfer Agent to the Holder). Delivery of a Notice of Conversion to the Company
shall be given by the Holder pursuant to the notice provisions set forth in Section 10 of the Agreement. The Conversion Shares
must be delivered to the Holder within two (2) business days from the date of delivery of the Notice of Conversion to the Transfer
Agent or Company, as the case may be. Conversion shares shall be delivered by DWAC so long as the Company is then DWAC Operational,
unless the Holder expressly requests delivery in certificated form or the Conversion
Shares are in the form of Restricted Stock and are required to bear a restrictive legended. Conversion Shares shall be deemed delivered
(i) if delivered by DWAC, upon deposit into the Holder’s brokerage account, or (ii) if delivered in certificated form, upon
the Holder’s actual receipt of the Conversion Shares in certificated form at the address specified by the Holder in the Notice
of Conversion, as confirmed by written receipt. All expenses incurred by Holder, for the issuance and clearing of the Common Stock
into which this Debenture is convertible into, shall immediately and automatically be added to the balance of the Debenture at
such time as the expenses are incurred by Holder.

 

If at
any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock,
then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the
Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal”
means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares
issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price
not been adjusted by the Holder to the par value price.

 

Notwithstanding
the foregoing, unless the Holder delivers to the Company written notice at least sixty-one (61) days prior to the effective date
of such notice that the provisions of this paragraph (the “Limitation on Ownership”) shall be adjusted to 9.99% with
respect to the Holder, in no event shall a holder of Debentures have the right to convert Debentures into, nor shall the Company
issue to such Holder, shares of Common Stock to the extent that such conversion would result in the Holder and its affiliates together
beneficially owning more than 4.99% of the then issued and outstanding shares of Common Stock. For purposes hereof, beneficial
ownership shall be determined in accordance with Section 13(d) of the Exchange Act and Regulation 13D-G under the Exchange Act.

 

b.     
So long as no Event of Default (as defined in Section 10) shall have occurred and be continuing (whether such Event of
Default has been declared by the Holder) (unless the Holder consents to such redemption notwithstanding such Event of
Default, as described in clause (v), below), the Company may at its option call for redemption all or part of the Debentures,
with the exception of any portion thereof which is the subject of a previously- delivered Notice of Conversion, prior to the
Maturity Date, as follows:

 

(i)     
The Debentures called for redemption shall be redeemable by the Company, upon not more than two (2) calendar days written
notice, for an amount (the “Redemption Price”) equal to: (i) if the Redemption Date (as defined below) is ninety
(90) calendar days or less from the date of issuance of this Debenture, One Hundred Ten percent (110%) of the sum of the
Principal Amount so redeemed plus accrued interest, if any; (ii) if the

 

    	 	3	 

    	 

    

 

Redemption Date is greater
than or equal to ninety-one (91) calendar days from the date of issuance of this Debenture and less than or equal to one hundred
twenty (120) calendar days from the date of issuance of this Debenture, One Hundred Twenty percent (120%) of the sum of the Principal
Amount so redeemed plus accrued interest, if any; (iii) if the Redemption Date is greater than or equal to one hundred twenty one
(121) calendar days from the date of issuance of this Debenture and less than or equal to one hundred eighty (180) calendar days
from the date of issuance of this Debenture, One Hundred Thirty percent (130%) of the sum of the Principal Amount so redeemed plus
accrued interest, if any; and (iv) if either (1) the Debentures are in default but the Holder consents to the redemption notwithstanding
such default or (2) the Redemption Date is greater than or equal to one hundred eighty one (181) calendar days from the date of
issuance of this Debenture, One Hundred Forty percent (140%) of the sum of the Principal Amount so redeemed plus accrued interest,
if any. The date upon which the Debentures are redeemed and paid shall be referred to as the “Redemption Date” (and,
in the case of multiple redemptions of less than the entire outstanding Principal Amount, each such date shall be a Redemption
Date with respect to the corresponding redemption).

 

		(ii)	[Reserved]

 

		(iii)	[Reserved]

 

(iv)    
On the Redemption Date, the Company shall cause the Holder whose Debenture have been presented for redemption to be issued
payment of the Redemption Price. In the case of a partial redemption, the Company shall also issue new Debenture to the
Holder for the Principal Amount remaining outstanding after the Redemption Date promptly after the
Holder’s presentation of the Debenture called for redemption.

 

(v)    
To effect a redemption the Company shall provide a written notice to the Holder(s) not more than two (2) days prior to the
Redemption Date (the “Redemption Notice”), setting forth the following:

 

		1.	the Redemption Date;

 

		2.	the Redemption Price; and

 

		3.	the aggregate Principal Amount of the Debentures
being called for redemption.

 

Notwithstanding the foregoing,
in the event the Company issues a Redemption Notice but fails to fund the redemption on the Redemption Date, then such Redemption
Notice shall be null and void, and (i) the Holder(s) shall be entitled to convert the Debenture previously the subject of the Redemption
Notice, and (ii) the Company may not redeem such Debenture for at least thirty (30) days following the intended Redemption Date
that was voided, and the Company shall be required to pay to the Holder(s) the Redemption Price simultaneously with the issuance
of a Redemption Notice in connection with any subsequent redemption pursued by the Company.

 

3.    
If the Company, at any time while this Debenture or any amounts due hereunder are outstanding,
issues, sells or grants any option to purchase, or sells or grants any right to reprice, or otherwise disposes of, or issues (or
announces any sale, grant or any option to

 

    	 	4	 

    	 

    

 

purchase or other disposition),
any Common Stock or other securities convertible into, exercisable for, or otherwise entitle any person or entity the right to
acquire, shares of Common Stock (including, without limitation, upon conversion of this Debenture, and any convertible securities
outstanding as of or following the Issuance Date), in each or any case at an effective price per share that is lower than the then
Conversion Price (such lower price, the “Base Conversion Price” and such issuances, collectively, a “Dilutive
Issuance”) (it being agreed that if the holder of the Common Stock or other securities so issued shall at any time, whether
by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or
due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to receive shares of
Common Stock at an effective price per share that is lower than the Conversion Price, such issuance shall be deemed to have occurred
for less than the Conversion Price on such date of the Dilutive Issuance), then the Conversion Price shall be reduced, at the option
of the Holder, to a price equal the Base Conversion Price.

 

4.    
No provision of this Debenture shall alter or impair the obligation of the Company, which
is absolute and unconditional to convert this Debenture into Common Stock, at the time, place, and rate herein prescribed. This
Debenture is a direct obligation of the Company.

 

5.    
If, at any time after the Issuance Date, there shall be any merger, consolidation, exchange
of shares, recapitalization, reorganization, or other similar event, as a result of which shares of Common Stock of the Company
shall be changed into the same or a different number of shares of another class or classes of stock or securities of the Company
or another entity, or in case of any sale or conveyance of all or substantially all of the assets of the Company, then the Holder
of this Debenture shall thereafter have the right to receive upon conversion of this Debenture, upon the basis and upon the terms
and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such
stock, securities or assets which the Holder would have been entitled to receive in such transaction had this Debenture been converted
in full immediately prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such
case appropriate provisions shall be made with respect to the rights and interests of the Holder of this Debenture to the end that
the provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares
issuable upon conversion of the Debenture) shall thereafter be applicable, as nearly as may be practicable in relation to any securities
or assets thereafter deliverable upon the conversion hereof. The Company shall not effectuate any transaction described in this
Section 5 unless (a) it first gives, to the extent practicable, at least thirty (30) days prior written notice (but in any event
at least fifteen (15) days prior written notice) of the record date of the special meeting of shareholders to approve, or if there
is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or
other similar event or sale of assets (during which time the Holder shall be entitled to convert this Debenture) and (b) the resulting
successor or acquiring entity (if not the Company) assumes by written instrument all of the obligations of this Debenture. The
above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

6.      If,
at any time while any portion of this Debenture remains outstanding, the Company effectuates a forward stock split or reverse
stock split of its Common Stock or issues a dividend on its Common Stock consisting of shares of Common Stock or otherwise
recapitalizes its Common Stock, the Conversion Price shall be equitably adjusted to reflect such action.

 

    	 	5	 

    	 

    

 

7.    
All payments contemplated hereby to be made “in cash” shall be made by wire transfer
of immediately available funds in such coin or currency of the United States of America as at the time of payment is legal tender
for payment of public and private debts. All payments of cash and each delivery of shares of Common Stock issuable to the Holder
as contemplated hereby shall be made to the Holder to an account designated by the Holder to the Company and if the Holder has
not designated any such accounts at the address last appearing on the Debenture Register of the Company as designated in writing
by the Holder from time to time; except that the Holder may designate, by notice to the Company, a different delivery address for
any one or more specific payments or deliveries.

 

8.    
The Holder of the Debenture, by acceptance hereof, agrees that this Debenture is being acquired
for investment and that such Holder will not offer, sell or otherwise dispose of this Debenture or the Shares of Common Stock issuable
upon conversion thereof except in compliance with the terms of the Securities Purchase Agreement and under circumstances which
will not result in a violation of the Securities Act or any applicable state Blue Sky or foreign laws or similar laws relating
to the sale of securities.

 

9.    
This Debenture shall be governed by and construed in accordance with the laws of the State
of Nevada. Each of the parties consents to the exclusive jurisdiction and venue of the state located
in Miami-Dade County, Florida and/or federal courts located in Miami-Dade County, Florida in
connection with any dispute arising under this Agreement, and each waives any objection based on forum non conveniens. This provision
is intended to be a “mandatory” forum selection clause and governed by and interpreted consistent with Florida law
(Nevada law governing all other, substantive matters). Each of the parties hereby consents to the
exclusive jurisdiction and venue of any state or federal court having its situs in Miami-Dade County, Florida, and each waives
any objection based on forum non conveniens. To the extent determined by such court, the Company shall reimburse the Holder
for any reasonable legal fees and disbursements incurred by the Holder in enforcement of or protection of any of its rights under
this Debenture or the Securities Purchase Agreement.

 

		10.	The following shall constitute an “Event of Default”:

 

a.     
The Company fails in the payment of principal or interest (to the extent that interest is imposed under this Section 10) on
this Debenture as required to be paid in cash hereunder, and payment shall not have been made for a period of five (5)
business days following the payment due date (as to which no further cure period shall apply); or

 

b.     
Any of the representations or warranties made by the Company herein, in the Securities Purchase Agreement or in any
certificate or financial or other written statements heretofore or hereafter furnished by the Company to the Holder in
connection with the issuance of this Debenture, shall be false or misleading (including without limitation by way of the
misstatement of a material fact or the omission of a material fact) in any material respect at the time made (as to which
no cure period shall apply); or

 

    	 	6	 

    	 

    

 

c.     
The Company fails to remain listed on the OTC Pink, OTCQB, OTCQX, Nasdaq Capital Markets, NYSE, or other applicable principal
trading market for the Common Stock (the “Principal Market”) any time from the date hereof to the Maturity Date
for a period in excess of five (5) Trading Days (as to which no further cure period shall apply); or

 

d.    
The Company (i) fails to timely file required SEC reports when due (including extensions), becomes, is deemed to be or
asserts that it is a “shell company” at any time for purposes of the 1933 Act, and Rule 144 promulgated
thereunder or otherwise takes any action, or refrains from taking any action, the result of which makes Rule 144 under the
1933 unavailable to the Holder for the sale of their Securities, (ii) fails to issue shares of Common Stock to the Holder or
to cause its Transfer Agent to issue shares of Common Stock upon exercise by the Holder of the conversion rights of the
Holder in accordance with the terms of this Debenture, (iii) fails to transfer or to cause its Transfer Agent to transfer any
certificate for shares of Common Stock issued to the Holder upon conversion of this Debenture as and when required by this
Debenture and such transfer is otherwise lawful, (iv) fails to remove any restrictive legend or to cause its Transfer Agent
to transfer any certificate or any shares of Common Stock issued to the Holder upon conversion of this Debenture as and when
required by the relevant Transaction Document(s) and such legend removal is otherwise lawful, or (v) the Company fails to
perform or observe any of its obligations under the Section 5 of the Agreement or under the Transfer Agent Instruction Letter
(no cure period shall apply in the case of clauses (i) through (v) above, inclusive); or

 

e.     
The Company fails to perform or observe, in any material respect (i) any other covenant, term, provision, condition,
agreement or obligation set forth in the Debenture, (subject to a cure period of three (3) days other than in the case of a
failure under Section 5 hereof, as to which no cure period shall apply), or (ii) any other covenant, term,
provision, condition, agreement or obligation of the Company set forth in the Securities Purchase Agreement and such failure
shall continue uncured for a period of either (1) three (3) days after the occurrence of the Company’s failure under
Section 4(d), (e) (except as described in Section 10(c) hereof, as to which Section 10(c) hereof shall control), (f), (g) or
(h) of the Securities Purchase Agreement, or (2) ten (10) days after the occurrence of the Company’s failure under any
other provision of the Securities Purchase Agreement not otherwise specifically addressed in the Events of Default set forth
in this Section 10; or

 

f.     
The Company shall (1) admit in writing its inability to pay its debts generally as they mature; (2) make an assignment for
the benefit of creditors or commence proceedings for its dissolution; or (3) apply for or consent to the appointment of a
trustee, liquidator or receiver for its or for a substantial part of its property or business (as to which no cure period
shall apply); or

 

g.     
A trustee, liquidator or receiver shall be appointed for the Company or for a substantial part of its property or business
without its consent and shall not be discharged within sixty (60) days after such appointment (as to which no cure period
shall apply); or

 

h.     
Any governmental agency or any court of competent jurisdiction at the instance of any governmental agency shall assume
custody or control of the whole or any substantial portion of the properties or assets of the Company and shall not be
dismissed within sixty (60) days thereafter (as to which no cure period shall apply); or

 

    	 	7	 

    	 

    

 

i.     
Any money judgment, writ or warrant of attachment, or similar process (including an arbitral determination), in excess of
Fifty Thousand Dollars ($50,000) in the aggregate shall be entered or filed against the Company or any of its properties or
other assets (as to which no cure period shall apply); or

 

j.     
The occurrence of a breach or an event of default under the terms of any indebtedness or financial instrument of the Company
or any subsidiary (including but not limited to any Subsidiary) of the Company in an aggregate amount in excess of Fifty
Thousand Dollars ($50,000) or more which is not waived by the creditors under such indebtedness (as to which no cure period
shall apply); or

 

k.     
Bankruptcy, reorganization, insolvency or liquidation proceedings or other proceedings for relief under any bankruptcy law or
any law for the relief of debtors shall be instituted by or against the Company and, if instituted against the Company, shall
not be dismissed within sixty (60) days after such institution or the Company shall by any action or answer approve of,
consent to, or acquiesce in any such proceedings or admit the material allegations of, or default in answering a petition
filed in any such proceeding (as to which no further cure period shall apply); or

 

l.     
The issuance of an order, ruling, finding or similar adverse determination the SEC, the Secretary of State of the State of
Nevada or other applicable state of incorporation of the Company, FINRA, or any other securities regulatory body (whether in
the United States, Canada or elsewhere) having proper jurisdiction that the Company and/or any of its past or present
directors or officers have committed a material violation of applicable securities laws or regulations (as to which no cure
period shall apply); or

 

m.    
The Company shall have its Common Stock suspended or delisted from the Principal Market for a period in excess of five (5)
Trading Days (as to which no further cure period shall apply); or

 

n.     
Any of the following shall occur and be continuing: a breach or default by any party under (a) any agreement identified by
the Company in its SEC filings as a material agreement or (b) any note or other form of indebtedness in favor of the Company
representing indebtedness of at least Fifty Thousand Dollars ($50,000.00), irrespective of whether such breach or default was
waived (as to which no cure period shall apply); or

 

o.     
Notice of a Material Adverse Effect is provided by the Company or the determination in good faith by the Holder that a
Material Adverse Effect has occurred (as to which no cure period shall apply); or

 

p.     
The Company attempts to modify, amend, withdraw, rescind, disavow or repudiate any part of the Irrevocable Instructions (as
to which no cure period shall apply).

 

q.     
Any attempt by the Company or its officers, directors, and/or affiliates to transmit, convey, disclose, or any actual
transmittal, conveyance, or disclosure by the Company or its officers, directors, and/or affiliates of, material non-public
information concerning the Company, to the Holder or its successors and assigns,
which is not immediately cured by Company’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

    	 	8	 

    	 

    

 

r.     
At any time while this Debenture is outstanding, the lowest traded price on the Principal Market is equal to or less than
$0.0001.

 

s.     
The failure by Company to maintain any material intellectual property rights, personal, real property or other assets which
are necessary to conduct its business (whether now or in the future).

 

t.     
If, at any time on or after the Issuance Date, the Company’s Common Stock (i) is suspended from trading, (ii) halted
from trading, and/or (iii) fails to be quoted or listed (as applicable) on the Principal Market.

 

u.     
If, at any time on or after the date which is six (6) months after the Issuance Date, the Holder is unable to (i) obtain a
standard “144 legal opinion letter” from an attorney reasonably acceptable to the Holder, the Holder’s
brokerage firm (and respective clearing firm), and the Company’s transfer agent in order to facilitate the
Holder’s conversion of any portion of the Debenture into free trading shares of the Company’s Common Stock
pursuant to Rule 144, and/or (ii) thereupon deposit such shares into the Holder’s brokerage account.

 

v.     
Any attempt by the Company or its officers, directors, and/or affiliates to transmit, convey, disclose, or any actual
transmittal, conveyance, or disclosure by the Company or its officers, directors, and/or affiliates of, material non-public
information concerning the Company, to the Holder or its successors and assigns, which is not immediately cured by
Company’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

Then,
or at any time thereafter, the Company shall immediately give written notice of the occurrence of such Event of Default to
the Holder, and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder of
the Debenture (which waiver shall not be deemed to be a waiver of any subsequent default), then at the option of the Holder
and in the discretion of the Holder, take any or all of the following actions: (i) pursue remedies against the Company in
accordance with any of the Holder’s rights, (ii) increase the interest rate applicable to the Debenture to the lesser
of eighteen percent (18%) per annum and the maximum interest rate allowable under applicable law, (iii) in the case of an
Event of Default under Section 10(e)(ii)(1) based on the Company’s failure to be DWAC Operational, increase the
Principal Amount to an amount equal to one hundred ten percent (110%) of the then-outstanding Principal Amount, (iv) in the
case of an Event of Default under Section 10(d)(i), increase the Principal Amount to an amount equal to one hundred twenty
percent (120%) of the then-outstanding Principal Amount and an additional ten percent (10%) discount shall be factored into
the Conversion Price until this Debenture is no longer outstanding, (v) in the case of an Event of Default under Section
10(d)(i) through (v), increase the Principal Amount of the relevant Holder’s Debenture by One Thousand Dollars and
00/100 ($1,000.00) for each day the related failure continues, (vi) in the case of an Event of Default under Section
10(d)(ii) through (v) arising from an untimely delivery to the Holder of Conversion Shares or shares of Common Stock in
de-legended form, if the closing bid price of the Common Stock on the Trading Day immediately prior to the actual date of
delivery of Conversion Shares or de- legended shares, as the case may be, is less
than the closing bid price on the Trading Day

 

    	 	9	 

    	 

    

 

immediately prior to the
date when Conversion Shares or de-legended shares were required to be delivered, increase the Principal Amount of the relevant
Holder’s Debenture by an amount per share equal to such difference, and (vii) following the expiration of the applicable
grace period (if any), at the option and discretion of the Holder, accelerate the full indebtedness under this Debenture, in an
amount equal to one hundred forty percent (140%) of the outstanding Principal Amount and accrued and unpaid interest (the “Acceleration
Amount”), whereupon the Acceleration Amount shall be immediately due and payable, without presentment, demand, protest or
notice of any kinds, all of which are hereby expressly waived, anything contained herein, in the Securities Purchase Agreement
or in any other note or instruments to the contrary notwithstanding. In the case of an Event of Default under Section 10(d)(ii),
the Holder may either (i) declare the Acceleration Amount to exclude the Conversion Amount that is the subject of the Event of
Default, in which case the Acceleration Amount shall be based on the remaining Principal Amount and accrued interest (if any),
in which case the Company shall continue to be obligated to issue the Conversion Shares, or (ii) declare the Acceleration Amount
to include the Conversion Amount that is the subject of the Event of Default, in which case the Acceleration Amount shall be based
on the full Principal Amount, including the Conversion Amount, and accrued interest (if any), whereupon the Notice of Conversion
shall be deemed withdrawn. At its option, the Holder may elect to convert the Debenture pursuant to Section 2 notwithstanding the
prior declaration of a default and acceleration, in the sole discretion of such Holder. The Holder may immediately enforce any
and all of the Holder's rights and remedies provided herein or any other rights or remedies afforded by applicable law. Notwithstanding
the foregoing, in the case of a default under Section 10(d)(ii) through (iv), the Holder of the Debenture sought to be converted,
transferred or de-legended, as the case may be, acting singly, shall have the sole and absolute discretion to increase the applicable
interest rate on the Debenture held by such Holder and/or to accelerate the Debenture(s) held by such Holder. The Company expressly
acknowledges and agrees that the Holder’s exercise of any or all of the remedies provided herein or under applicable law,
including without limitation the increase(s) in the Principal Amount and the Acceleration Amount as may be declared in the case
of a default, is reasonable and appropriate due to the inability to define the financial hardship that the Company’s default
would impose on the Holder. To the extent that the Holder’s exercise of any of its remedies in the case of an Event of Default
shall be construed to exceed the maximum interest rate allowable under applicable law, then such remedies shall be reduced to equal
the maximum interest rate allowable under applicable law

 

11.   
Nothing contained in this Debenture shall be construed as conferring upon the Holder the right
to vote or to receive dividends or to consent or receive notice as a shareholder in respect of any meeting of shareholders or any
rights whatsoever as a shareholder of the Company, unless and to the extent converted in accordance with the terms hereof.

 

12.   
So long as this Debenture is outstanding, upon any issuance by the Company or any of its subsidiaries
of any security with any term more favorable to the holder of such security or with a term in favor of the holder of such security
that was not similarly provided to the Holder in this Debenture, then the Company shall notify the Holder of such additional or
more favorable term and such term, at Holder’s option, shall become a part of the transaction documents with the Holder.
The types of terms contained in another security that may be more favorable to the holder of such security include, but are not
limited to, terms addressing conversion discounts, prepayment rate, conversion lookback periods, interest rates, original issue
discounts, stock sale price, private placement price per share, and warrant coverage.

 

    	 	10	 

    	 

    

 

13.   
This Debenture may be amended only by the written consent of the parties hereto. Notwithstanding
the foregoing, the Principal Amount of this Debenture shall automatically be reduced by any and all Conversion Amounts (to the
extent that the same relate to principal hereof). In the absence of manifest error, the outstanding Principal Amount of the Debenture
on the Holder’s book and records shall be the correct amount.

 

14.     In
the event of any inconsistency between the provisions of this Debenture and the provisions of any other Transaction Document,
the provisions of this Debenture shall prevail. Without limiting the generality of the foregoing, in the event the Transfer
Agent is not required to transfer any Common Stock, issue Conversion Shares or de-legended shares of Restricted Stock
pursuant to the Transfer Agent Instruction Letter, this shall not operate as an excuse, extension or waiver of the
Company’s obligation to issue and deliver Conversion Shares or de- legended
Restricted Stock.

 

15.    
The Company specifically acknowledges and agrees that in the event of a breach or threatened breach by the Company of any
provision hereof or of any other Transaction Document, the Holder will be irreparably damaged, and that damages at law would
be an inadequate remedy if this Debenture or such other Transaction Document were not specifically enforced. Therefore, in
the event of a breach or threatened breach by the Company, the Holder shall be entitled, in addition to all other rights and
remedies, to an injunction restraining such breach, without being required to show any actual damage or to post any bond or
other security, and/or to a decree for a specific performance of the provisions of this Debenture and the other
Transaction Documents.

 

16.    
No waivers or consents in regard to any provision of this Debenture may be given other than by an instrument in writing
signed by the Holder.

 

17.    
Each time, while this Debenture is outstanding, the Company enters into a Section 3(a)(10) transaction, in which any 3rd
party has the right to convert monies owed to that 3rd party (or receive shares pursuant to a settlement or otherwise) at a
discount to market greater than the Conversion Price in effect at that time (prior to all other applicable adjustments in
this Debenture), then the Conversion Price shall be automatically adjusted to such greater discount percentage (prior to
all applicable adjustments in this Debenture) until this Debenture is no longer outstanding. Each time, while this Debenture
is outstanding, the Company enters into a Section 3(a)(10) transaction, in which any 3rd party has a look back period greater
than the look back period in effect under this Debenture at that time, then the Holder’s look back period shall
automatically be adjusted to such greater number of days until this Debenture is no longer outstanding. The Company shall
give written notice to the Holder, with the adjusted Conversion Price and/or adjusted look back period (each adjustment that
is applicable due to the triggering event), within one (1) business day of an event that requires any adjustment described in
this section. So long as this Debenture is outstanding, the Company shall not enter into any transaction or arrangement
structured in accordance with, based upon, or related or pursuant to, in whole or in part, Section 3(a)(l0) of the Securities
Act (a “3(a)(l0) Transaction”). In the event that the Company does enter into, or makes any issuance of Common
Stock related to a 3(a)(l0) Transaction while this Debenture is outstanding, a liquidated damages charge of 20% of the
outstanding principal balance of this Debenture, but not less than Fifteen Thousand Dollars, will be assessed and will become immediately due and
payable to the Holder at its election in the form of cash payment or addition to the balance of this Debenture.

 

    	 	11	 

    	 

    

 

18.    
So long as this Debenture is outstanding, upon any issuance by the Company or any of its subsidiaries of any security with
any term more favorable to the holder of such security or with a term in favor of the holder of such security that was not
similarly provided to the Holder in this Debenture, then the Company shall notify the Holder of such additional or more
favorable term and such term within one (1) business day of an event that requires any adjustment described in this
section, and such term shall, at Holder’s option, become a part of the transaction documents with the Holder
(regardless of whether the Company notifies the Holder or not). The types of terms contained in another security that may be
more favorable to the holder of such security include, but are not limited to, terms addressing conversion discounts,
prepayment rate, conversion lookback periods, interest rates, original issue discounts, stock sale price, private placement
price per share, and warrant coverage. This Section 18 shall not apply to the Company’s issuances to EMA Financial,
LLC.

 

		19.	[Intentionally Omitted].

 

20.    
Notwithstanding any provision in this Debenture or the related transaction documents to the contrary, the total liability for
payments of interest and payments in the nature of interest, including, without limitation, all charges, fees, exactions, or
other sums which may at any time be deemed to be interest, shall not exceed the limit imposed by the usury laws of the
jurisdiction governing this Debenture or any other applicable law. In the event the total liability of payments of interest
and payments in the nature of interest, including, without limitation, all charges, fees, exactions or other sums which may
at any time be deemed to be interest, shall, for any reason whatsoever, result in an effective rate of interest, which
for any month or other interest payment period exceeds the limit imposed by the usury laws of the jurisdiction governing this
Debenture, all sums in excess of those lawfully collectible as interest for the period in question shall, without further
agreement or notice by, between, or to any party hereto, be applied to the reduction of the outstanding principal balance due
hereunder immediately upon receipt of such sums by the Holder hereof, with the same force and effect as though the Company
had specifically designated such excess sums to be so applied to the reduction of the principal balance then outstanding, and
the Holder hereof had agreed to accept such sums as a penalty-free payment of principal; provided, however, that the Holder
may, at any time and from time to time, elect, by notice in writing to the Company, to waive, reduce, or limit the collection
of any sums in excess of those lawfully collectible as interest, rather than accept such sums as a prepayment of the
principal balance then outstanding. It is the intention of the parties that the Company does not intend or expect to pay, nor
does the Holder intend or expect to charge or collect any interest under this Debenture greater than the highest non-usurious
rate of interest which may be charged under applicable law.

 

 

[Signature Page Follows]

 

    	 	12	 

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Debenture to be duly executed by an officer thereunto duly authorized as of the
date of issuance set forth above.

 

	 	AB INTERNATIONAL GROUP CORP.
		
         

        

         

         

         

	 	/s/ Chiyuan Deng
	 	Name: Chiyuan Deng
	 	Title:Chief Executive Officer

 

 

 

[Signature Page to Convertible
Debenture]

 

    	 	13	 

    	 

    

 

ANNEX A

 

AB INTERNATIONAL GROUP
CORP. NOTICE OF CONVERSION

(To Be Executed by the Registered Holder in Order to
Convert the Debenture)

 

The undersigned hereby
irrevocably elects to convert $__________________ of the Principal Amount of the above Debenture into Shares of Common Stock
of AB International Group Corp., a Nevada corporation (the “Company”), according to the conditions hereof, as of
the date written below. After giving effect to the conversion requested hereby, the outstanding Principal Amount of such
debenture is $___________________, absent manifest error.

 

Pursuant to the Debenture,
certificates representing Common Stock upon conversion must be delivered (including delivery by DWAC or DRS) to the undersigned
within two (2) business days from the date of delivery of the Notice of Conversion to the Transfer Agent.

 

 

Conversion Date

	 

 

 

Applicable Conversion Price

	 

 

 

Signature

	 

 

 

Print Name

	 

 

 

Address

	 

 

	 

 

 

    	 	14NEITHER THIS SECURITY NOR
THE SECURITIES AS TO WHICH THIS SECURITY MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

 

COMMON STOCK
PURCHASE WARRANT 

AB INTERNATIONAL
GROUP CORP.

 

 

Warrant Shares: 10,000

Date of Issuance: December
9, 2019 (“Issuance Date”)

 

This
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received (in connection with the issuance
of the $85,000.00 convertible debenture to Peak One Opportunity Fund, L.P., a Delaware limited partnership (the “Fund”)
on or around December 9, 2019 (the “Debenture”), Peak One Investments, LLC, a Delaware limited liability company
(including any permitted and registered assigns, the “Holder”), is entitled, upon the terms and subject to the
limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase
from AB International Group Corp., a Nevada corporation (the “Company”), up to 10,000 shares of Common Stock
(as defined below) (the “Warrant Shares”) (whereby such number may be adjusted from time to time pursuant to
the terms and conditions of this Warrant) at the Exercise Price per share then in effect. This Warrant is issued by the Company
as of the date hereof in connection with that certain securities purchase agreement dated December 9, 2019, by and among the Company
and the Fund (the “Purchase Agreement”).

 

Capitalized
terms used in this Warrant shall have the meanings set forth in the Purchase Agreement unless otherwise defined in the body of
this Warrant or in Section 12 below. For purposes of this Warrant, the term “Exercise Price” shall mean $10.00,
subject to adjustment as provided herein (including but not limited to cashless exercise), and the term “Exercise Period”
shall mean the period commencing on the Issuance Date and ending on 5:00 p.m. eastern standard time on the five-year anniversary
thereof.

 

		1.	EXERCISE OF WARRANT.

 

(a)               
Mechanics of Exercise. Subject to the terms and conditions hereof, the rights represented
by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written notice,
in the form attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise
this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Partial
exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have
the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number
of Warrant Shares purchased. On or before the second Trading Day (the “Warrant Share Delivery Date”) following
the date on which the Holder sent the Exercise Notice to the Company or the Company’s transfer agent, and upon receipt by
the Company of payment to the Company of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares
as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price” and together
with the Exercise Notice, the “Exercise Delivery Documents”) in cash or by wire transfer of immediately available
funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the Company shall (or direct
its transfer agent to) issue and dispatch by

 

    	 		 

    	 

    

 

overnight courier to the
address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the name of the
Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise (or
deliver such shares of Common Stock in electronic format if requested by the Holder). Upon delivery of the Exercise Delivery Documents,
the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to
which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant Shares.
If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented by this Warrant submitted
for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable
and in no event later than three Business Days after any exercise and at its own expense, issue a new Warrant (in accordance with
Section 6) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under
this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised.

 

If the Company
fails to cause its transfer agent to transmit to the Holder the respective shares of Common Stock by the respective Warrant Share
Delivery Date, then the Holder will have the right to rescind such exercise in Holder’s sole discretion, and such failure
shall be deemed an event of default under the Debenture.

 

If the Market
Price of one share of Common Stock is greater than the Exercise Price, the Holder may elect to receive Warrant Shares pursuant
to a cashless exercise, in lieu of a cash exercise, equal to the value of this Warrant determined in the manner described below
(or of any portion thereof remaining unexercised) by surrender of this Warrant and a Notice of Exercise, in which event the Company
shall issue to Holder a number of Common Stock computed using the following formula:

 

X = Y (A-B)

 

A

 

Where X =the number of Shares to be issued to
Holder.

 

		Y =	the number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date
of such calculation).

 

A =       the Market
Price (at the date of such calculation).

 

B =       Exercise
Price (as adjusted to the date of such calculation).

 

 

(b)               
No Fractional Shares. No fractional shares shall be issued upon the exercise of this
Warrant as a consequence of any adjustment pursuant hereto. All Warrant Shares (including fractions) issuable upon exercise of
this Warrant may be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional
share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance
of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying
the then-current fair market value of a Warrant Share by such fraction.

 

(c)                Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, to the extent that after giving effect to issuance of Warrant Shares upon exercise as
set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own in excess
of the Beneficial Ownership Limitation, as defined below. For purposes of the foregoing sentence, the number of shares of
Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable
upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares
of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of this
Warrant beneficially owned by the Holder or any of its

 

    	 	2	 

    	 

    

 

Affiliates and (ii) exercise
or conversion of the unexercised or non-converted portion of any other securities of the Company (including without limitation
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this
paragraph (d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act, it being acknowledged
by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the
Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent
that the limitation contained in this paragraph applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any affiliates) and of which portion of this Warrant is exercisable shall
be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of
which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall
have no obligation to verify or confirm the accuracy of such determination.

 

For purposes
of this paragraph, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding
shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission,
as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or
its transfer agent setting forth the number of shares of Common Stock outstanding. Upon the request of a Holder, the Company shall
within two Trading Days confirm to the Holder the number of shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company,
including this Warrant, by the Holder or its affiliates since the date as of which such number of outstanding shares of Common
Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common
Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant.
Upon no fewer than 61 days’ prior notice to the Company, a Holder may increase or decrease the Beneficial Ownership Limitation
provisions of this paragraph, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this
Warrant held by the Holder and the provisions of this paragraph shall continue to apply. Any such increase or decrease will not
be effective until the 61st day after such notice is delivered to the Company and shall only apply to such Holder and no other
Holder. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant.

 

2.                  
ADJUSTMENTS. The Exercise Price and the number of Warrant Shares shall be adjusted
from time to time as follows:

 

(a)               
Distribution of Assets. If the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including without limitation any distribution of cash, stock or other securities, property or options by way of a
dividend, spin off, reclassification, corporate rearrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case:

 

(i)                
any Exercise Price in effect immediately prior to the close of business on the record date
fixed for the determination of holders of shares of Common Stock entitled to receive the Distribution shall be reduced, effective
as of the close of business on such record date, to a price determined by multiplying such Exercise Price by a fraction (i) the
numerator of which shall be the Closing Sale Price of the shares of Common Stock on the Trading Day immediately preceding such
record date minus the value of the Distribution (as determined in good faith by the Company’s Board of Directors) applicable
to one share of Common Stock, and (ii) the denominator of which shall be the Closing Sale Price of the shares of Common Stock on
the Trading Day immediately preceding such record date; and

 

(ii)              
the number of Warrant Shares shall be increased to a number of shares equal to the number
of shares of Common Stock obtainable immediately prior to the close of business on the record date

 

    	 	3	 

    	 

    

 

fixed for the determination
of holders of shares of Common Stock entitled to receive the Distribution multiplied by the reciprocal of the fraction set forth
in the immediately preceding clause (i); provided, however, that in the event that the Distribution is of shares of common stock
of a company (other than the Company) whose common stock is traded on a national securities exchange or a national automated quotation
system (“Other Shares of Common Stock”), then the Holder may elect to receive a warrant to purchase Other Shares
of Common Stock in lieu of an increase in the number of Warrant Shares, the terms of which shall be identical to those of this
Warrant, except that such warrant shall be exercisable into the number of shares of Other Shares of Common Stock that would have
been payable to the Holder pursuant to the Distribution had the Holder exercised this Warrant immediately prior to such record
date and with an aggregate exercise price equal to the product of the amount by which the exercise price of this Warrant was decreased
with respect to the Distribution pursuant to the terms of the immediately preceding clause (i) and the number of Warrant Shares
calculated in accordance with the first part of this clause (ii).

 

(b)              
Anti-Dilution Adjustments to Exercise Price. If the Company or any Subsidiary thereof, as applicable, at any
time while this Warrant is outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise
dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or securities
entitling any person or entity to acquire shares of Common Stock (upon conversion, exercise or otherwise) (including but not limited
to under the Note), at an effective price per share less than the then Exercise Price (such lower price, the “Base Share
Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common Stock
or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, elimination of an
applicable floor price for any reason in the future (including but not limited to the passage of time or satisfaction of certain
condition(s)), reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or
rights per share which are issued in connection with such issuance, be entitled or potentially entitled to receive shares of Common
Stock at an effective price per share which is less than the Exercise Price at any time while such Common Stock or Common Stock
Equivalents are in existence, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the
Dilutive Issuance (regardless of whether the Common Stock or Common Stock Equivalents are (i) subsequently redeemed or retired
by the Company after the date of the Dilutive Issuance or (ii) actually converted or exercised at such Base Share Price), then
the Exercise Price shall be reduced at the option of the Holder and only reduced to equal the Base Share Price, and the number
of Warrant Shares issuable hereunder shall be increased such that the aggregate Exercise Price payable hereunder, after taking
into account the decrease in the Exercise Price, shall be equal to the aggregate Exercise Price prior to such adjustment (for the
avoidance of doubt, the aggregate Exercise Price prior to such adjustment is calculated as follows: the total number of Warrant
Shares issuable upon exercise of this Warrant immediately prior to such adjustment (without regard to the Beneficial Ownership
Limitation) multiplied by the Exercise Price in effect immediately prior to such adjustment). By way of example, if E is the total
number of Warrant Shares issuable upon exercise of this Warrant immediately prior to such adjustment (without regard to the Beneficial
Ownership Limitation), F is the Exercise Price in effect immediately prior to such adjustment, and G is the Base Share Price, the
adjustment to the number of Warrant Shares can be expressed in the following formula: Total number of Warrant Shares after such
Dilutive Issuance = the number obtained from dividing [E x F] by G. Such adjustment
shall be made whenever such Common Stock or Common Stock Equivalents are issued, regardless of whether the Common Stock or Common
Stock Equivalents are (i) subsequently redeemed or retired by the Company after the date of the Dilutive Issuance or (ii) actually
converted or exercised at such Base Share Price by the holder thereof (for the avoidance of doubt, the Holder may utilize the Base
Share Price even if the Company did not actually issue shares of its common stock at the Base Share Price under the respective
Common stock Equivalents). The Company shall notify the Holder in writing, no later than the Trading Day following the issuance
of any Common Stock or Common Stock Equivalents subject to this Section 2(b), indicating therein the applicable issuance price,
or applicable reset price, exchange price, conversion price and other pricing terms (such notice the “Dilutive Issuance
Notice”). For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this
Section 2(b), upon the occurrence of any Dilutive Issuance, after the date of such Dilutive Issuance the Holder is entitled to receive a number
of Warrant Shares based upon the Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in
the Notice of Exercise.

 

    	 	4	 

    	 

    

 

(c)               
Subdivision or Combination of Common Stock. If the Company at any time on or after
the Issuance Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding
shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will
be proportionately reduced and the number of Warrant Shares will be proportionately increased. If the Company at any time on or
after the Issuance Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares
of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately
increased and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 2(c) shall become
effective at the close of business on the date the subdivision or combination becomes effective. Each such adjustment of the Exercise
Price shall be calculated to the nearest one-hundredth of a cent. Such adjustment shall be made successively whenever any event
covered by this Section 2(c) shall occur.

 

3.                  
FUNDAMENTAL TRANSACTIONS. If, at any time while this Warrant is outstanding, (i)
the Company effects any merger of the Company with or into another entity and the Company is not the surviving entity (such surviving
entity, the “Successor Entity”), (ii) the Company effects any sale of all or substantially all of its assets
in one or a series of related transactions, (iii) any tender offer or exchange offer (whether by the Company or by another individual
or entity, and approved by the Company) is completed pursuant to which holders of Common Stock are permitted to tender or exchange
their shares of Common Stock for other securities, cash or property and the holders of at least 50% of the Common Stock accept
such offer, or (iv) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which
the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a
subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental Transaction”), then,
upon any subsequent exercise of this Warrant, the Holder shall have the right to receive the number of shares of Common Stock of
the Successor Entity or of the Company and any additional consideration (the “Alternate Consideration”) receivable
upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of the
number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event (disregarding any limitation
on exercise contained herein solely for the purpose of such determination). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions,
any Successor Entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions
and evidencing the Holder’s right to exercise such warrant into Alternate Consideration.

 

4.                  
NON-CIRCUMVENTION. The Company covenants and agrees that it will not, by amendment
of its certificate of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of
arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant
and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the
Company (i) shall not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the
Exercise Price then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the Company may
validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall,
for so long as this Warrant is outstanding, have authorized and reserved, free from preemptive rights, seven (7) times the number
of shares of Common Stock into which the Warrants are then exercisable into to provide for the exercise of the rights represented
by this Warrant (without regard to any limitations on exercise).

 

    	 	5	 

    	 

    

 

5.                  
WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided
herein, this Warrant, in and of itself, shall not entitle the Holder to any voting rights or other rights as a stockholder of the
Company. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase
any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted
by the Company or by creditors of the Company.

 

		6.	REISSUANCE.

 

(a)               
Lost, Stolen or Mutilated Warrant. If this Warrant is lost, stolen, mutilated or
destroyed, the Company will, on such terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as this Warrant so lost,
stolen, mutilated or destroyed.

 

(b)               
Issuance of New Warrants. Whenever the Company is required to issue a new Warrant
pursuant to the terms of this Warrant, such new Warrant shall be of like tenor with this Warrant, and shall have an issuance date,
as indicated on the face of such new Warrant which is the same as the Issuance Date.

 

7.                  
TRANSFER. This Warrant shall be binding upon the Company and its successors and assigns,
and shall inure to be the benefit of the Holder and its successors and assigns. Notwithstanding anything to the contrary herein,
the rights, interests or obligations of the Company hereunder may not be assigned, by operation of law or otherwise, in whole or
in part, by the Company without the prior signed written consent of the Holder, which consent may be withheld at the sole discretion
of the Holder (any such assignment or transfer shall be null and void if the Company does not obtain the prior signed written consent
of the Holder). This Warrant or any of the severable rights and obligations inuring to the benefit of or to be performed by Holder
hereunder may be assigned by Holder to a third party, in whole or in part, without the need to obtain the Company’s consent
thereto.

 

8.                  
NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise
provided herein, such notice shall be given in accordance with the notice provisions contained in the Purchase Agreement. The Company
shall provide the Holder with prompt written notice (i) immediately upon any adjustment of the Exercise Price, setting forth in
reasonable detail, the calculation of such adjustment and (ii) at least 20 days prior to the date on which the Company closes its
books or takes a record (A) with respect to any dividend or distribution upon the shares of Common Stock, (B) with respect
to any grants, issuances or sales of any stock or other securities directly or indirectly convertible into or exercisable or exchangeable
for shares of Common Stock or other property, pro rata to the holders of shares of Common Stock or (C) for determining rights to
vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall
be made known to the public prior to or in conjunction with such notice being provided to the Holder.

 

9.                  
AMENDMENT AND WAIVER. The terms of this Warrant may be amended or waived (either
generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and
the Holder.

 

10.              
GOVERNING LAW AND VENUE. This Warrant shall be governed by and construed in accordance
with the laws of the State of Nevada without regard to principles of conflicts of laws. Any action brought by either party against
the other concerning the transactions contemplated by this Warrant shall be brought only in the state courts located in the State
of Florida, County of Miami-Dade or federal courts located in the State of Florida, County of Miami-Dade. The parties to this Warrant
hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense
based on lack of jurisdiction or venue or based upon forum non conveniens. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from the
other party its reasonable attorney's fees and costs. In the event that any provision of this Warrant or any other agreement delivered
in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed
inoperative to the extent

 

    	 	6	 

    	 

    

 

that it may conflict therewith
and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably
waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this
Agreement or any other Transaction Document by mailing a copy thereof via registered or certified mail or overnight delivery (with
evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any other manner permitted by law.

 

11.              
ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of
and agreement to all of the terms and conditions contained herein.

 

12.              
CERTAIN DEFINITIONS.For purposes of this Warrant, the following terms shall have
the following meanings:

 

		(a)	“Nasdaq” means www.Nasdaq.com.

 

(b)               
“Closing Sale Price” means, for any security as of any date, (i) the
last closing trade price for such security on the Principal Market, as reported by Nasdaq, or, if the Principal Market begins to
operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such security prior
to 4:00 p.m., New York time, as reported by Nasdaq, or (ii) if the foregoing does not apply, the last trade price of such security
in the over-the-counter market for such security as reported by Nasdaq, or (iii) if no last trade price is reported for such security
by Nasdaq, the average of the bid and ask prices of any market makers for such security as reported by the OTC Markets. If the
Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price
of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. All such determinations
to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable
calculation period.

 

(c)               
“Common Stock” means the Company’s common stock, and any other
class of securities into which such securities may hereafter be reclassified or changed.

 

(d)               
“Common Stock Equivalents” means any securities of the Company that would
entitle the holder thereof to acquire at any time Common Stock, including without limitation any debt, preferred stock, rights,
options, warrants or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles
the holder thereof to receive, Common Stock.

 

(e)               
“Dilutive Issuance” is any issuance of Common Stock or Common Stock Equivalents
described in Section 2(b) above; provided, however, that a Dilutive Issuance shall not include any Exempt Issuance.

 

(f)                
“Exempt Issuance” means the issuance of (i) shares of Common Stock or
options to officers or directors of the Company pursuant to any stock or option plan duly adopted by a majority of the non-employee
members of the Board of Directors of the Company or a majority of the members of a committee of non-employee directors established
for such purpose, (ii) securities issued pursuant to acquisitions approved by a majority of the disinterested directors of the
Company, and (iii) shares of Common Stock issued pursuant to any real property leasing arrangement or financing from a national
bank approved by the Board of Directors of the Company.

 

(g)               
“Principal Market” means the primary national securities exchange on
which the Common Stock is then traded.

 

(h)               
“Market Price” means the highest traded price of the Common Stock during
the ninety Trading Days prior to the date of the respective Exercise Notice.

 

    	 	7	 

    	 

    

 

(i)                
“Trading Day” means (i) any day on which the Common Stock is listed or
quoted and traded on its Principal Market, (ii) if the Common Stock is not then listed or quoted and traded on any national securities
exchange, then a day on which trading occurs on any over-the-counter markets, or (iii) if trading does not occur on the over-the-counter
markets, any Business Day.

 

13.              
MOST FAVORED NATION. While any portion of this Warrant remains unexercised, the Company
shall not enter into any public or private offering of its securities (including securities convertible into shares of Common Stock)
with any individual or entity (an “Other Investor”) that has the effect of establishing rights or otherwise benefiting
such Other Investor in a manner more favorable to such Other Investor than the rights and benefits established in favor of the
Holder by this Warrant unless, in any such case, the Holder has been provided with such rights and benefits pursuant to a definitive
written agreement or agreements between the Company and the Holder. From the date hereof and for so long as any portion of this
Warrant remains unexercised, in the event that the Company issues or sells any Common Stock or Common Stock Equivalents or issues,
any other securities convertible into, exercisable for, or otherwise entitle any person or entity the right to acquire, shares
of Common Stock, if the Holder then holding any unexercised portion of this Warrant, believes that any of the terms and conditions
appurtenant to such issuance or sale are more favorable to such investor(s) than are the terms and conditions granted to the Holder,
then such additional or more favorable term, at Holder’s option, shall automatically become a part of the transaction documents
(including but not limited to this Warrant) with the Holder. The Company shall provide the Holder with notice of any such issuance
or sale not later than two (2) Trading Days before such issuance or sale.

 

 

 

* * * * * * *

 

    	 	8	 

    	 

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be duly executed as of the Issuance Date set forth above.

 

	 	AB INTERNATIONAL GROUP CORP.
	 	
         

         

         

         

	 	/s/ Chiyuan Deng
	 	Name: Chiyuan Deng
	 	Title:Chief Executive Officer

 

    	 	9	 

    	 

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

(To be executed by the registered
holder to exercise this Common Stock Purchase Warrant)

 

 

THE UNDERSIGNED holder
hereby exercises the right to purchase ________________ of the shares of Common
Stock (“Warrant Shares”) of AB International Group Corp., a Nevada corporation (the “Company”),
evidenced by the attached copy of the Common Stock Purchase Warrant (the “Warrant”). Capitalized terms used
herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 

		1.	Form of Exercise Price. The Holder intends that payment of
the Exercise Price shall be made as (check one):

 

		☐	a cash exercise with respect to Warrant Shares; or

		☐	by cashless exercise pursuant to the Warrant.

 

		2.	Payment of Exercise Price. If cash exercise
is selected above, the holder shall pay the applicable Aggregate Exercise Price in the sum of $ to the Company in accordance
with the terms of the Warrant.

 

		3.	Delivery of Warrant Shares. The Company
shall deliver to the holder Warrant Shares in accordance with the terms
of the Warrant.

 

 

 

Date: ________________________________

 

 

 

	 	 	(Print Name of Registered
    Holder)
	 	 	
         

         

         

         

	 	By:	
	 	Name:	
	 	Title:	

 

 

    	 	10	 

    	 

    

 

EXHIBIT B

 

ASSIGNMENT OF WARRANT

 

(To be signed only upon authorized
transfer of the Warrant)

 

 

FOR VALUE
RECEIVED, the undersigned hereby sells, assigns, and transfers unto
_____________________ the right to purchase shares of common stock of AB International Group Corp., to which the
within Common Stock Purchase Warrant relates and appoints _____________________, as attorney-in-fact, to transfer said right on the books of AB
International Group Corp. with full power of substitution and re-substitution in the premises. By accepting such transfer,
the transferee has agreed to be bound in all respects by the terms and conditions of the within Warrant.

 

 

 

Dated: _________________________

 

 

 

	 	(Signature) *
	 	 
	 	(Name)
	 	 
	 	(Address)
	 	 
	 	(Social Security or Tax Identification No.)

 

 

 

* The signature on this Assignment
of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every particular without
alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity,
please indicate your position(s) and title(s) with such entity.

 

    	 	11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00302-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00302-of-00352.parquet"}]]