MURRAY COD AUSTRALIA LIMITED — AGM Information 2020

Dec 17, 2020

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MCA ANNUAL GENERAL MEETING

18 December 2020 Update

PROGRESS DURING THE PANDEMIC

Thank you to all our stakeholders

COVID-19 EFFECT

It was dramatic but well countered:

• Pivot strategy to domestic retail had good results

• Volume budgets were still achieved for FY 2020

• Pricing was maintained

• Exports currently almost nil

• Added a live Aquna Murray Cod delivery business:

  • Melbourne

  • Sydney

  • Adelaide.

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10,000 TONNE TARGET STILL ON TRACK

International Growth This remains the major focus as stock becomes available. We still expect 80% of sales will ultimately be exports.

Domestic Demand At current pricing we expect the domestic market demand to grow to 3,000 tonnes. 4 aquna.com

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PROGRESS DURING THE YEAR

• People

• Facilities

• Finance

• Research and development

• Brand development.

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PEOPLE

Operations

Building management structure in operations:

• Whitton

• Bilbul.

Sales

• Currently building the

domestic sales team with recruitment occurring in Melbourne and Sydney.

• Maintaining presence in USA Japan and Europe.

• Will expand international team in 2021 as pandemic eases.

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FACILITIES

• Stage one of Whitton completed on time.

• Whitton site now stocked and operational.

• New hatchery acquired in April 2020 performing better than budgeted.

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FINANCE

New Westpac Debt Facilities - $5.45 million (currently undrawn)

• New Term debt facility of $3.95 million

• • New Equipment Finance Facility $1.5 million.

• Existing Debt Facility - $2.5 million (currently undrawn)

• Existing overdraft facility remains in place.

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RESEARCH AND DEVELOPMENT

Genetics programme

Production and nutrition

• Government funding approved for project with CSIRO.

  • Improvement in processes has already delivered 50% gains in productivity since inception.

• We expect this will be the single largest boost to productivity over the next decade.

  • Current work aimed at reducing future capital requirements as growth continues.

• Will add significantly to brand power in the global marketplace.

• Nutrition trials to improve growth rates and flesh quality.

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BRAND DEVELOPMENT

• Work continues on developing a globally recognised brand. • Will expand domestic and international marketing team as pandemic eases. • Trade shows to recommence in 2021.

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AWARDS

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DISCLAIMER

This presentation has been prepared by Murray Cod Australia Limited (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as a financial advice, financial product advice, or advice relating to legal, taxation or investment matters.

No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation. This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (within incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.

Future matter | This presentation contains reference to certain intentions, expectations, future plans, strategy, revenue forecasts and prospects of the Company. Those intentions, expectations, future plans, strategy, revenue forecasts and prospects may or may not be achieved and may be forward looking statements. They are baaed on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy, revenue forecasts and prospects. The company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

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All figures included in this presentation are in AUD$ unless otherwise stated.

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More Information contact: Ross Anderson Ph +61 2 69 625 470 www.aquna.com