Clean Seas Seafood Limited

Major Shareholding Notification • Jan 16, 2023

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)
	IFM Independent Fund Management AG as Trustee for the Bonafide Global Fish Fund
Name	IFM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Best Catches 1
	IFM Independent Fund Management AG as Trustee for the Bonafide Investment Fund - Opportunities 1
ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on	12/Jan/2023
The previous notice was given to the company on	$28/$ Oct $/2021$
The previous notice was dated	28/0tc/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:

Previous notice		Present notice
Person's votes	Voting power (5)	Person's votes	Voting power (5)
28'800'700	17.42%	30'585'594	18.49%

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	Citigroup Pry Limited	Citigroup Pry Limited	Indirect	16'326'087 fully paid ordinary	16'326'087 fully paid ordinary

Management AG as trustee for the Bonafide Global Fish Fund				shares	shares
IFM Independent Fund Management AG as trustee for the Bonafide Investment Fund - Best Catches 1	Citigroup Pry Limited	Citigroup Pry Limited	Indirect	12'233'041 fully paid ordinary	12'233'041 fully paid ordinary
IFM Independent Fund Management AG as trustee for the Bonafide Investment $Fund -$ Opportunities ı	Citigroup Pry Limited	Citigroup Pry Limited	Indirect	2'036'466 fully paid ordinary	2'036'466 fully paid ordinary

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 fo

Name and ACN/ARSN (if applicable)	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 Bonafide Global Fish Fund IFM Independent Fund Management AG as trustee for Bonafide Investment Fund - Best Catches 1 IFM Independent Fund Management AG as trustee for Bonafide Investment Fund - Opportunities 1	Landstrasse 30, 9494 Schaan, Principality of Liechtenstein

		Signature

16 / January $/2023$

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.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ 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
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ 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.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ 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.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

3 Changes in relevant interests attachment

Date of Change	Person whose relevant interest changes	Nature of change	Consideration given Class and number of in relation to change securities affated		Person's voted affected ISIN
	the Bonatide Investment Fund - Management AG as Trustee for 20.10.2021 IFM Independent Fund Opportunities I	Purchase		AUD 6'794.40 11'324 fully paid ordinary shares	11'324 fully paid ordinary shares	AU000000CSS3
	Management AG as Irustee for The Bonalide Global Fish Fund 09.06.2022 IFM Independent Fund	Purchase		AUD 104'250.18 191'208 fully poid ordinary shares	pipa yllul 802'191 ordinary shares	AU000000CSS3
	Management AG as Irustee for the Bonafide Global Fish Fund 10.06.2022 IFM Independent Fund	Purchase		AUD 32'335.60 58'792 fully paid ordinary shares	58'792 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for the Bonafide Global Fish Fund 29.06.2022 FM Independent Fund	Purchase		AUD 15'833.10 33'570 fully poid ordinary shares	33'570 fully paid ordinary shares	AU000000CSS3
	the Bonafide Investment Fund - Management AG as Trustee for 16.12.2022 IFM Independent Fund Best Catches	Purchase		AUD 457'500.00 750'000 fully paid ordinary shares	750'000 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for he Bonafide Investment Fund - 11.01.2023 IFM Independent Fund Best Catches	Purchase		AUD 149'998.25 250'000 fully paid ordinary shares	250'000 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for the Bonafide Global Fish Fund 11.01.2023 IFM Independent Fund	Purchase		AUD 149'998.33 250'000 fully paid ordinary shares	250'000 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for the Bonatide Investment Fund - 12.01.2023 FM Independent Fund Best Catches I	Purchase		AUD 144'000.00 240'000 fully paid ordinary shares	240'000 fully paid ordinary shares	AU000000CSS3
	Management AG as Trustee for the Bonafide Investment Fund - 13.01.2023 IFM Independent Fund Best Catches	Purchase		AUD 6'000.00 10'000 fully paid ordinary shares	10'000 fully paid ordinary shares	AU000000CSS3