Clean Seas Seafood Limited

Pre-Annual General Meeting Information • Jan 15, 2024

CEO Presentation to the Extraordinary General Meeting

CEO Presentation to the Extraordinary General Meeting

The Clean Seas CEO will make a presentation to the Meeting this afternoon. The Presentation is attached.

Highlights are:

 Operational Review on track to deliver “right-sized” business, with sales and production at circa 3,000 tonnes per annum

 Maintained pricing resilience at A$22.53/kg for H1 FY24 versus A$22.44/kg for H1 FY23 and A$23.02/kg for H2 FY23 in a highly competitive trading environment

 Completed Tranche 1 placement of A$6.7 million and renewed A$32.2 million bank facility to support working capital and the operational review

 Biomass reduction complete, expected to save A$11 million in feed costs over the next 14 months versus growing these fish to harvest size

 Targeted reduction in fixed and variable operating costs of up to A$5.0 million per annum underway and on track

 Ongoing elevated feed prices however some respite is expected in H2 FY24 with Fish Meal prices easing in Q2 FY24

For further information please contact:

Rob Gratton

CEO

rob.gratton@cleanseas.com.au