Clean Seas Seafood Limited

Capital/Financing Update • Sep 2, 2021

Redemption of Convertible Notes Finalised

Redemption of Convertible Notes Finalised

[Adelaide], 02 September 2021: Rob Gratton, Chief Executive Officer of Clean Seas Seafood Limited (ASX: CSS, “Clean Seas” or “the Company”) is pleased to announce that all of the Convertible Notes (ASX:CSSG) have been either converted to shares by Noteholders or were redeemed by the Company on 27 August 2021.

Of the 15,403,907 Convertible Notes issued on or before 20 January 2020, a total of 8,854,562 have been converted by Noteholders to Ordinary Shares, and the remaining 6,549,345 were redeemed by the Company for approximately $6.5 million.

Clean Seas no longer has any Convertible Notes on issue and the redemption amount of $1 per note will be paid to Noteholders by Clean Seas on 3 September 2021.

Rob Gratton commented “This is another important step forward for the Company, simplifying the structure and removing cost. Clean Seas is now well funded and uniquely positioned to pursue its business objective of growing to be the quality & cost leader in sustainable & environmentally friendly Kingfish production. I look forward to updating you on our continued progress at the next Quarterly Update.”

Authorised for release by the Chief Executive Officer.

For further information, please contact:

Robert Gratton

Chief Executive Officer

rob.gratton@cleanseas.com.au