BPH GLOBAL LTD — Capital/Financing Update 2025

Oct 26, 2025

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27 October 2025

Company Announcements Platform Australian Securities Exchange

BPH Global Signs Commercial Framework Agreement with Indonesian Provincial Government for Seaweed Supply and Bio-Stimulant Manufacturing Project

Highlight

• BPH has signed a 2-part agreement with an Operating Company of the Provincial Government of Maluku Indonesia, Permuda Panca Raya (PPR Maluku).

• PPR Maluku acting as both seaweed supplier and bio-stimulant partner.

• Two-year term agreement.

• Part 1: PPR Maluku to supply seaweed sourced from Maluku farmers:

  • Maluku has pristine water sites that are suited to growing high quality seaweed facilitating better margins in the seaweed supply chain.

  • Quantities between 100 tonnes to up to 200 tonnes per month.

  • Quality and logistics terms defined (moisture, impurities, CIF delivery, documentation).

  • BP8 to establish a seaweed processing warehouse in Maluku (in addition to its 3 existing operating warehouses) to expand its total processing capacity to 500 tonnes per month.

  • PPR Maluku to enter into exclusive supply arrangements with farmers, including provision of financial subsidies, seed stock and cultivation equipment by PPR Maluku.

  • o Agreement will further enhance BP8’s position as a supplier of premium red seaweed.

• Part 2: BP8 and PPR Maluku to collaborate on establishing a seaweed-based bio-stimulant manufacturing facility in Maluku:

  • Government liaison and community engagement support provided by PPK Maluku.

  • PPK Maluku to introduce exclusive farmer supply programs, with potential subsidies, seed stock and equipment support.

  • BP8 may acquire seaweed from PPK Maluku for resale or for bio-stimulant production.

The Board of BPH Global Ltd ( ASX: BP8 ) ( BP8 , BPH Global or Company ) a leading commercial seaweed supply and export Company, is pleased to announce that it has executed a binding commercial framework agreement with Provisional Government Company Perumda Panca Raya based in Maluku ( PPK Maluku ), Indonesia ( Agreement ). Under the Agreement, PPK Maluku will supply seaweed from Maluku to BP8’s Indonesian subsidiary and act as a key regional partner to support BPH Global’s seaweed-based bio-stimulant development and commercialisation strategy.

Managing Director Matthew Leonard said: “This agreement marks a pivotal expansion in BPH Global’s strategy: it strengthens our supply chain by securing reliable sourcing of seaweed from Maluku while securing a strategic partnership with a key Indonesian provisional government entity to advance our seaweed-based bio-stimulant initiatives. With Perumda Panca Raya’s regional networks and institutional support, we can accelerate the establishment of our planned bio-stimulant manufacturing facility and drive sustainable growth in both agricultural and marine sectors.”

Supply of Seaweed

Under the Agreement, PPR Maluku (as seller) agrees to supply seaweed to BPH Global (buyer) monthly during the two-year term. The initial supply target is 200 metric tons per month, with specific quantities to be confirmed by mutual agreement each month. Historically, Indonesian sourced seaweed has traded in the range of USD750 to USD1,500 per month.

All seaweed supplied must originate from Maluku or other approved regions. Deliveries will be made on CIF terms, inclusive of freight and insurance to the designated discharge port. PPR Maluku will manage all logistics and handling up to the agreed delivery point.

The seaweed supplied must meet defined quality specifications, including a maximum moisture content of 38% and foreign matter not exceeding 3%. PPR Maluku will provide all standard shipping and export documentation with each shipment, including the commercial invoice, packing list, bill of lading, certificate of origin, and phytosanitary certificate. Payment for each shipment will be made by telegraphic transfer under terms to be agreed between the parties for each monthly consignment.

As the Company stated in its recent announcement regarding the fifth month’s trading results of its Indonesian-based seaweed business, its operational focus is on scaling volumes to meet rising demand, progressing international sales opportunities, leveraging the Company’s trade financing facility, and finalising additional offtake discussions. The Agreement with PPR Maluku is a strategic realisation of this strategy.

BPH Global is committed to establishing a dedicated seaweed-processing warehouse in the Province of Maluku within the next six months, supporting both the supply agreement and the development of its bio-stimulant initiative. This new facility will represent the Company’s fourth operational warehouse in Indonesia and will extend its regional coverage and processing capability. BPH currently operates through three key facilities:

• Leased warehouse in Makassar, South Sulawesi – a 550 m² facility with capacity of up to 1,000 metric tons per month, equipped with a quality-control laboratory and hydraulic press (commissioning next month).

• Kebula Seaweed Cooperative (PT Kebula Raya Bestari): BPH operates under a cooperation agreement that provides access to Kebula’s existing seaweed-processing warehouse and associated supply network in South Sulawesi.

• Sub-leased warehouse in Pangkap, Sulawesi.

With the establishment of the Maluku facility, BPH Global will expand its total seaweed processing capacity to approximately 500 tonnes per month across its four operating warehouses, further strengthening its supply chain and supporting the Company’s growth in Indonesia’s premium seaweed market.

Background - Seaweed Based Bio-stimulant Development

BPH is working Temasek Polytechnic Innovation Holdings Pte Ltd to develop seaweed-based biostimulants from tropical green, brown and red seaweed species. Bio-stimulants offer sustainable solutions for agriculture by enhancing crop growth, nutrient uptake, and stress resilience, contributing to higher yields and organic production methods. Seaweeds are excellent sources of bioactive compounds like Phyto-growth hormones, amino acids and minerals which boost terrestrial crop production by improved nutrient/fertiliser uptake and stress tolerance.

Seaweed-Based Bio-Stimulant

Under the Agreement, the parties have committed to cooperate in good faith to establish a seaweedbased bio-stimulant manufacturing facility in the Province of Maluku ( Facility ). PPR Maluku will assist BPH by:

• Facilitating introductions and liaison with local government authorities to identify and secure suitable land for the Facility.

• Coordinating with local community groups and farmer cooperatives to ensure a reliable supply of seaweed feedstock.

• Assisting in promoting agreed quality, traceability, and sustainability standards.

This framework of cooperation does not create binding obligations to enter land, construction, licensing, or financing agreements. Such arrangements will be subject to separate written agreements negotiated in good faith between the parties and, where relevant, government entities. Both parties will operate transparently and in compliance with investment, environmental, labour, and anticorruption laws.

PPR Maluku is proposing to implement exclusive supply agreements with local seaweed farmers, which may include the provision of financial subsidies, seed stock, and cultivation equipment such as ropes and other materials to support production. These arrangements are designed to provide PPR Maluku with security of supply and ensure consistency in seaweed quality and volume.

Under the Agreement, BPH Global will have the option to acquire seaweed from PPR Maluku for resale to third-party buyers and/or to retain seaweed for use in the production of its seaweed-based biostimulant products.

The Importance of Government Engagement and Regulatory Approvals

As outlined in the Company’s announcement regarding its cooperation with the National Economic Council of Indonesia (Dewan Ekonomi Nasional), engagement with government bodies is essential for the successful implementation of BPH Global’s projects in Indonesia. By partnering with PPR Maluku and the Provincial Government of Maluku, the Company strengthens its position to navigate local regulatory requirements and secure necessary support for its planned facility and agricultural programs.

Summary of Key Provisions of the Agreement

The key terms include:

• Parties:

Buyer: BPH Global Ltd (Australia) Supplier: Perumda Panca Raya (Indonesia).

• Term: Two years, unless terminated earlier.

• Supply Commitment: Up to 200 metric tons of seaweed per month, with monthly volumes to be confirmed by mutual agreement.

• Quality & Specifications: Maximum moisture 38%; maximum foreign matter 3%.

• Delivery & Logistics: CIF delivery to the port designated by Buyer. Seller responsible for logistics up to the delivery point; Buyer responsible thereafter.

• Documentation: Commercial invoice, packing list, bill of lading, certificate of origin, phytosanitary certificate.

• Payment Terms: Payment by telegraphic transfer; monthly payment terms to be agreed between the parties.

• Governing Law & Jurisdiction: Indonesian law applies; disputes resolved in Indonesian courts.

• Termination: Agreement may be terminated by mutual agreement or under specified conditions in the contract.

• Confidentiality & Miscellaneous: Confidentiality obligations apply; amendments must be in writing; invalid provisions do not affect the validity of the remainder.

About Perumda Panca Raya

Perumda Panca Raya is a regional public enterprise based in the Maluku province of Indonesia. As a regionally owned company (Perusahaan Umum Daerah), it operates under the Maluku regional government authority and is engaged in economic and business development activities in that region.

– ENDS –

Authorised for release by: The Board of BPH Global Ltd

For further information, please visit our website at www.bp8global.com or contact the Company Secretary on 03 9088 2049.