Clean Seas Seafood Limited

Major Shareholding Notification • Jul 6, 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 ACN/ARSN (if applicable)	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
There was a change in the interests of the substantial holder on	$29 / Jun$ /21

2. Previous and present voting power

The previous notice was dated

The previous notice was given to the company on

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:

$20/May/21$

14/May / 21

Previous notice		Present notice
Person's votes	Voting power (5)	Person's votes	Voting power (5)
18'639'087	14.47%	25'832'071	16.28%

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
	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 votes
IFM Independent Fund Management AG \$8 Trustee for the Bonafide Investment Fund - Best Catches I IFM Independent Fund Management AG \$8 Trustee for the Bonafide Gibbal Fish Fund - Citienner in		Citigroup Pry Limited	Citigroup Pry Limited	Indirect	25'832'071 fully paid ordinary shares	25'832'071 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:

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

print name Ramon Schäfer capacity Head of Investment Compliance sign here date 30 / Jun /2021

DIRECTIONS

• 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 $(1)$ 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
• $(2)$ 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.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ 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 c
• 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 $(b)$ 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 all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom e 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.

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". $(8)$

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

3 Changes in relevant interests attachment

ļ

Date of Change	Person whose relevant interest changes	Nature of change	in relation to change securities affcted	Consideration given Class and number of	Person's voted affected ISIN
	Management AG as Trustee for the Bonatide Investment Fund - 12.10.2020 IFM Independent Fund	Convertible Bond Conversion		AUD 179'060.88 283'432 fully paid ordinary shares	283'432 fully paid ordinary shares	AU000000CSS3
	the Bonafide Investment Fund - Management AG as Irustee for 02.12.2020 IFM Independent Fund Best Catches	Sell		AUD 585'000.00 750'000 fully paid ordinary shares	750'000 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for the Bonafide Global Fish Fund 31.12.2020 IFM Independent Fund Best Catches	Purchase		AUD 767'095.89 1'328'587 fully poid exdinary shares	1'328'587 fully paid ordinary shares	AU000000CSS3
	Management AG as Irustee for the Bonafide Global Fish Fund 05.01.2021 IFM Independent Fund	Conversion Convertib		AUD 350'000.00 460'199 fully paid ordinary shares	460199 fully paid ordinary shares	AU000000CSS3
	Management AG as Irustee for the Bonatide Global Fish Fund 24.06.2021 IFM Independent Fund	Purchase		NOK 15'909'025.45 4'333'334.00 fully paid ordinary shares	4'333'334.00 fully paid Au000000CSS3 ordinary shares
	Management AG as Irustee for the Bonalide Investment Fund- 24.06.2021 IFM Independent Fund	Purchase		NOK 10'498'670.22 2'859'650.00 fully poid ordinary shares	2'859'650.00 fully paid AU000000CSS3 ordinary shares
	Best Catches

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	06/07/2021
The previous notice was given to the company on	14/05/2021
The previous notice was dated	14/05/2021

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	7.84%	10,100,000	6.29%

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
06/07/2021	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	07/06/2021

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.