SEAFARMS GROUP LIMITED — Capital/Financing Update 2021

Sep 1, 2021

ASX Announcement | 2 September 2021 Seafarms Group Limited (ASX:SFG) SFG Announcement No. 706

Seafarms Group Second Supplementary Options Prospectus Registered

Sustainable aquaculture company Seafarms Group Limited ( Seafarms or the Company ) advises that further to Seafarms announcement re the appointment of Mr Mick McMahon as CEO and Mr Ian Brannan as CFO, Seafarms is extending the Option Offer under the Options Prospectus to Mr McMahon and Mr Brannan.

Mr McMahon and Mr Brannan have agreed to subscribe for $2,000,000 and $500,000, respectively, worth of fully paid ordinary shares of the Company and they will be granted 3 unlisted options for every 5 Shares issued to them.

Attached is a Supplementary Prospectus lodged with ASIC today.

Approved and authorised for release by Seafarms’ Disclosure Committee.

Ends.

For further information, please contact:

Seafarms Group

Mr Harley Whitcombe Company Secretary P: (08) 9216 5200

Media / Investor Enquiries

True North Strategic Communication Penny Baxter P: +61 437 522 532

E: penny@truenorthcomm.com.au

About Seafarms Group

Seafarms Group Limited (ASX:SFG) is a sustainable aquaculture company, producing the premium Crystal Bay® Prawns and developing the Project Sea Dragon prawn aquaculture project in northern Australia.

Seafarms Group uses environmentally sustainable processes and is currently Australia's largest producer of farmed prawns, its Crystal Bay® Prawns and Crystal Bay® Tigers are available year round in fresh and frozen formats. To learn more please visit: www.crystalbayprawns.com.au

Seafarms Group is investing in sustainable aquaculture for export through Project Sea Dragon, a large-scale, vertically integrated, land-based, prawn aquaculture project being developed in northern Australia. The standalone marine prawn production system will be capable of annually producing over 150,000 tonnes of prawns and the high-quality, yearround volumes will target export markets. To learn more please visit: www.seafarms.com.au