Clean Seas Seafood Limited

Capital/Financing Update • Dec 21, 2022

ASX & Media Release

22 December 2022

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

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."

Authorised for release by the Chairman of the Board of Clean Seas Seafood Limited.

About Clean Seas Seafood

Clean Seas Seafood is a fully integrated Australian Aquaculture business listed on the Australian Securities Exchange (ASX) and with a secondary listing on Euronext Growth Oslo (OSE) – the leading exchange for high growth seafood companies.

Clean Seas is the global leader in full cycle breeding, farming, processing and marketing of its Hiramasa or Yellowtail Kingfish (Seriola lalandi) and is renowned amongst leading chefs and restaurants around the world for its exceptional quality.

Clean Seas is recognised for innovation in its sustainable Yellowtail Kingfish farming and has become the largest producer of aquaculture Yellowtail Kingfish outside Japan.

Clean Seas is headquartered at its processing facility in Royal Park in Adelaide, South Australia while its hatchery is at Arno Bay and its fish farms are at Port Lincoln, Arno Bay and Fitzgerald Bay on the Eyre Peninsula of South Australia.

For further information on Clean Seas Seafood, please contact:

Rob Gratton	Andrew Angus
CEO	Investor Relations
rob.gratton@cleanseas.com.au	andrewangus@overlandadvisers.com.au
+61 434 148 979	+61 402 823 757