Clean Seas Seafood Limited

Major Shareholding Notification • May 27, 2021

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Clean Seas Seafood Limited
ACN/ARSN	094 380 435
1. Details of substantial holder (1)
Name	GCI CSS (Hofseth & Nevara) LLC
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on	14/05/2021
The previous notice was given to the company on	29/05/2020
The previous notice was dated	29/05/2020

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Fully Paid Ordinary Shares	10,100,000	9.53%	10,100,000	7.84%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
14/05/2021	GCI CSS (Hofseth & Nevara) LLC	Dilution of interest due to issue of shares in the Company	N/A	N/A	N/A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
GCI CSS (Hofseth & Nevara) LLC	HSBC Custody Nominees	GCI CSS (Hofseth & Nevara) LLC	Relevant interest under section 608(1) of the Corprations	10,100,000 Fully Paid Ordinary Shares	10,100,000

	Act

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
GCI CSS (Hofseth & Nevara) LLC	107 Grand Street, New York, NY 10013

Signature

print name	Vincent Barbuto	capacity	CFO
sign here		date	05/26/2021

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (6) Include details of:
  • (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To_Company Name/Scheme Clean Seas Seafood Ltd
ACN/ARSN	094 380 435
1. Details of substantial holder (1)
Name	Bonafide Wealth Management AG
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on		14 / 05 / 2021
The previous notice was given to the company on		21 / 08 / 2019
The previous notice was dated		21 / 08 / 2019

2. Previous and present voting power

The total number of votes attached to all the company or voling interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Fully paid ordinary shares	16'200'139	17.66% (as of 20/06/2019) 19'963'519		15.50% (as of today)

3. Changes in relevant interests

Particulars of each change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
18/11/19- 21/05/21	Bonafide Wealth Management AG	several non- threshold crossing conversion of notes into shares	n.a.	4'513'380 fully paid ordinary shares	4'513'380 fully paid ordinary shares
02/12/20	Bonafide Wealth Management AG	share sale	A\$585'000	750'000 fully paid ordinary shares	750'000 fully paid ordinary shares
14/05/21	Bonafide Wealth Management AG	Tranche 1 capital increase through issuance of 14.93 min new shares (Bonafide participating in Tranche 2)

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Bonafide Wealth Management AG	Citigroup Pty Limited	Citigroup Pty Limited	Indirect (see annexure A)	19'963'519 fully paid ordinary shares	19'963'519 fully paid ordinary shares

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Bonafide Wealth Management AG	Höfle 30, 9496 Balzers, Principality of Liechtenstein
IFM Independent Fund Management AG as trustee for the Bonafide Global Fish Fund	Landstrasse 30, 9494 Schaan, Principality of Liechtenstein
IFM Independent Fund Management AG as trustee for the Bonafide Investment Fund - Best Catches I	Landstrasse 30, 9494 Schaan, Principality of Liechtenstein
Deep Blue Ventures Holdings SPC DBVF III & IV Segregated Portfolios	30 Floor Harbour Centre, P.O. Box 61, George Town, Grand Cayman KY1-1102, Cayman slands

Signature

	print name Philipp Hämmerli		capacity Portfolio Manager
sign here 1		date	21/05/2021

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• (b) any qualification of the power of a person to exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and other, that any person from whom a relevant interest was acquired has, or may, become entiled to receive in relation. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• (8) If the substantial holder is unable to dentity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Give details, if appropriate, of the present association since the last substantial holding notice.

This a annexure 1 of 1 pages referred to in form 604.

ANNEXURE TO FORM 604

(see Form 604 page 2/2 DIRECTIONS (1))

Company Name/Scheme

Clean Seas Seafood Ltd

ACN/ARSN

094 380 435

Total number of issued shares 128'819'147

Structure of the relevant interest

Print name Capacity Date sign here

Signature

Philipp Hämmerli

Portfolio Manager

21/05/2021 Fr

Page 1 of 1

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To_ Company Name/Scheme	Clean Seas Seafood Limited
ACN/ARSN	094 380 435
1. Details of substantial holder(1)
Name	IFM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Best Catches I IFM Independent Fund Management AG as Trustee for the Bonafide Global Fish Fund
ACN/ARSN (if applicable)
There was a change in the interests of the

SUUSTATICI HOLGE OH	14 / May / 21
The previous notice was given to the company on	10 / July / 20
The previous notice was dated	10/July / 20

2. Previous and present voting power

The total number of votes a laction in the company or voing interest in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as filosizons;

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Fully Paid ordinary shares	17'316'869	15.90%	18'639'087	14.47%

3. Changes in relevant interests

Particulars of each change in the nature of a relevant interest of the substantial hoting securities of the company or schene, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows.

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	According to the attachment

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's voles
	IFM Independent Fund Management AG as Trustee for the Bonalde Invel Find - Best Cather I IFM Independent Fund Management AG as Tructed for the Bonal Fieh Fund	Citigroup Pry Limited	Indirect	18'639'087 fully paid ordinary shares	18'639'087 fully paid ordinary shares

5. Changes in association

The persons who have become associates (2) cr. ceased to be associates of, or have changed the rature of their association (9) with, the substantial holder in relation to vot interests in the company or scheme are as follows:

Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
IFM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Best Catches I IFM Independent Fund Management AG as Trustee for the Bonafide Global Fish Fund	Landstrasse 30. 9494 Schaan, Principality of Liechtenstein

Signature

DIRECTIONS

• (1) ll there are a number of similar or related televant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity to station of could be included in an amexure to the form. If the relevant interests of a group of person and may be refered to throughout the form as a specifically named group, with the names and addresses of members is clearly set out in paragaph 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (5)
• (6) Include details of:
  • any relevant agreement on other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any (a) (a) document setting out the terms of any relevant and a statement by the person giving full and ancurate details of any onlines, scheme of arrangement, must accompany this form, together with a written statement certifying this contracted and
  • any qualification of the power of a person to exercise of, or influence the exercise of, the voting powers or disposal of the securities to (b) which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(7) Details of the consideration must include any and other, that any person from whom a relevant interest was acquired has, or may, becom i instilled of eceive in relation. Details must be included even if the beforition in the heppening on of a contingency. Dealis mur included of any benefit paid on behalf of the substantial holder or it the arquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

(8) If the substantial holder is unable to dentity of the person (eg. if the relevant interest arises because of an option) write "unknown".

(9)

3 Changes in relevant interests attachment

Date of Change	Person whose relevant interest changes	Nature of change	Consideration given in relation to change	Class and number of securities afficted	Person's voted affected	IISIN
	12.10.2020 FM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Best Catches I	Conversion Convertible Bond		AUD 179'060.88 283'432 fully paid ordinary shares	283'432 fully paid ordinary shares	AU000000000000000
	02.12.2020 IFM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Best Catches I	Sell		AUD 585'000.00 750'000 fully paid ordinary shares	750'000 fully paid ordinary shares	AU000000CSS3
	31.12.2020 IFM Independent Fund Management AG as Trustee for the Bonafide Global Fish Fund	Purchase		AUD 767'095.89 1'328'587 fully paid ordinary shares	1'328'587 fully paid ordinary shares	AU00000000000019
	05.01.2021 IFM Independent Fund Management AG as Trustee for the Bonafide Global Fish Fund	Conversion Convertible Bond		AUD 350'000.00 460'199 fully paid ordinary shares	460'199 fully paid ordinary shares	AU0000000000383