Clean Seas Seafood Limited

Capital/Financing Update • Dec 21, 2022

Clean Seas Confirms Renewal of A$32.15 million Funding Agreement with the Commonwealth Bank of Australia

Clean Seas Confirms Renewal of A$32.15 million Funding Agreement with the Commonwealth Bank of Australia

[ADELAIDE], 22 DECEMBER 2022:

Clean Seas Seafood Limited (ASX: CSS, OSE: CSS) announces that it has renewed its A$32.15 million funding agreement with Commonwealth Bank of Australia until July 2024.

The facility comprises of the following facilities:

Debt Facility Summary A$'000

Trade Finance Facility 12,000

Equipment Finance Facility 6,000

Cash Advance Facility 14,000

Corporate Card Facility 150

Total Debt Facility 32,150

These facilities will provide sufficient headroom for working capital and will fund planned capital investment projects, including those that will deliver increased production capacity and automation.

The Group is subject to financial covenants, including operating cash flows and current ratio, which are reviewed quarterly.

Clean Seas CEO Rob Gratton said “We are very pleased to continue our strong and long-standing banking relationship with the Commonwealth Bank of Australia, and these renewed facilities will continue to support the execution of Clean Seas’ strategic plan.”

For further information please contact:

Rob Gratton

CEO

rob.gratton@cleanseas.com.au