Clean Seas Seafood Limited

FY23 Results Announcement

[ADELAIDE], 29 AUGUST 2023

Clean Seas Seafood Limited (ASX: CSS, OSE: CSS) presents its FY23 Results Announcement.

Highlights:

• FY23 Record Operating EBITDA of A$3.7 million (A$1.21/kg) driven by price increases and operational cost efficiencies

• Strong pricing up 29% with converging Fresh and Frozen prices driven by the transition away from legacy fish biomass and frozen inventory

• Production costs increased by 5.3% due to higher feed prices partly offset by efficiencies on farm

• 15% increase in harvest volumes in FY23 versus FY22 with sales volumes reflecting previous period sell-through of all clearance frozen inventory

• Positive operating cash flows of A$1.5 million in FY23, with funding headroom for working capital and planned capital investment projects

The full Announcement is attached.

Authorised for release by the CEO of Clean Seas Seafood Limited.

For further information please contact:

Rob Gratton

CEO

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