Barramundi Group

Regulatory Filings • Jun 14, 2024

BARRAMUNDI GROUP ANNOUNCES RAS CONTRACT AWARD TO LEADING TECHNOLOGY & SERVICE PROVIDER FOR ITS BRUNEI BROODSTOCK AND HATCHERY FACILITY.

Singapore, 14th June 2024 - Barramundi Group Ltd (the "Company") (EURONEXT: BARRA) announced today that its Brunei subsidiary, Barramundi Group (B) Sdn Bhd ("BGBN") has awarded Malta's AquaBioTech Group ("ABTG") a turnkey contract for the design, supply, installation, and commissioning of a state-of-the-art RAS ("Recirculating Aquaculture System") broodstock, hatchery and live feed facility for barramundi (sp. Lates calcarifer).

The new RAS broodstock and hatchery facility is the second key milestone in the Company's strategic development plan for its operations in Brunei Darussalam. This new facility complements BGBN's earlier investment of its already-operational RAS nursery.

Upon completion and commissioning of the new facility in the next 18 months, the Brunei operations will be fully self-sufficient; with broodstock, live-feed, larviculture, fry and fingerling production for its current stocking at sea.

With peak production capability of the new facility at over 6 million juveniles per year, the facility is future-proofed to cater for additional juvenile requirements for a new 3,000 MT land based RAS grow-out facility (referred to in previous announcements as BG2.0). BGBN is also presently in the intermediate design phase of this facility, for its 17 hectare Mengsalut site, with AquaBioTech Group.

"This contract is significant not just for AquaBioTech, but also for Brunei. This project will be a significant catalyst for the development of barramundi and other land-based aquaculture initiatives in Brunei, strengthening food security and enabling the country to explore new export markets".

AquaBioTech Group's CEO, Mr Shane A. Hunter.

"Having this new RAS broodstock and hatchery facility integrated into our existing and operational RAS nursery is a game changer. When commissioned, we will be able to produce consistently, the highestperformance juveniles from our own pathogen-resilient and geneticallysuperior broodstock, unhindered by external constraints. For Brunei Darussalam, a second state-of-the-art RAS facility in the country enhances its overall food and biosecurity posture, and adds another cornerstone in its nascent but fast-growing aquaculture sector. AquaBioTech has proven to be particularly suited to designing a tropical RAS with their deep multuidisciplinary bench and track record; and we are very pleased to be working with them beyond this RAS, but also our BG2.0 3,000MT growout facility in Mengsalut." says Mr James Kwan, CEO, Barramundi Group.

James Kwan (L) and Shane A. Hunter (R) at the signing

3D RENDERS OF THE FACILITY

CONTACTS

To learn more about this and other initiatives, please contact:

James Kwan
Chief Executive Officer
Barramundi Group

investors@barramundi.com

Vanessa Tan Chief Financial Officer Barramundi Group investors@barramundi.com Alex Chiam General Manager Barramundi Group (B) Sdn Bhd tat.chiam@barramundi.com

About Barramundi Group

Barramundi Group is a leader in sustainably-produced barramundi. We are front-runners in the establishment of an integrated, full-spectrum barramundi aquaculture model. Our operation spans the entire value chain, from genetics and fish health, autogenous vaccine development to farming, product innovation and distribution. Our research and development, sales, and vaccine development teams, are based in SIngapore whilst our production centre is in Brunei Darussalam. We have secured over 8000 ha of sea and land leases in Brunei, and have been farming there since 2021. https://barramundi.com/

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About AquaBioTech Group

AquaBioTech Group is an independent aquaculture, fisheries and marine environmental consulting, testing, research and development company operating on a global scale with clients and projects in over fifty-five countries. Each division of the company is focused on a specialised field of work related to the aquatic environment.

The largest division of the company has become the design, engineering, supply, installation, commissioning and operational support of land-based fish and shrimp farms, from hatchery to grow-out facilities. AquaBioTech Group is also a global leader in delivering state-of-the-art aquatic research facilities using our proprietary Recirculating Aquaculture System (RAS) technology and know-how.

AquaBioTech Group has over 25 years of experience advising, designing and solutions for the aquaculture, fisheries and marine sectors. With a multi-national team of more than one hundred in-house experts from more than thirty countries that have a variety of backgrounds and experiences, we bring a wealth of knowledge and experience to any assignment undertaken. https://aquabt.com/