Kingfish Limited — Capital/Financing Update 2021

Oct 18, 2021

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Kingfish Limited Phone +64 9 489 7094 Private Bag 93502, Takapuna Auckland, New Zealand

18 October 2021

New Warrant Issue for Kingfish

The directors of Kingfish Limited ( Kingfish ) are pleased to announce that the company will undertake a pro rata offer of warrants to shareholders.

The purpose of the offer is to raise capital as part of Kingfish’s ongoing capital management programme and provide investors the ability to purchase additional shares in Kingfish at a pre-determined Exercise Price. The offer also aims to increase the size of the portfolio and improve operational efficiency. The net proceeds of the offer are expected to be used for further investment in the Kingfish portfolio.

On the record date, Kingfish shareholders will be issued one warrant for every four shares held. The record date for the issue is 12 November 2021 and the warrants are expected to be allotted on 15 November 2021.

Each warrant gives shareholders the right, but not the obligation, to subscribe for one additional ordinary share in Kingfish on the exercise date. The exercise date is 18 November 2022 .

The exercise price will be $2.03 less any dividends declared with a record date during the period commencing on the date of allotment of the warrants and up to the announcement of the final exercise price. The final exercise price will be calculated and advised to warrant holders at least six weeks before the exercise date.

The warrants are expected to be quoted on the NZX Main Board from 16 November 2021 under the issuer code KFLWG.

Contact

Wayne Burns Corporate Manager Kingfish Limited