SEAFARMS GROUP LIMITED — Capital/Financing Update 2021

Aug 19, 2021

ASX Announcement | 20 August 2021 Seafarms Group Limited (ASX:SFG)

(SFG Announcement No. 700)

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Seafarms Group Limited (ACN 009 317 846) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 ( Corporations Act ) as modified by the Australian Securities and Investments Commission.

The Company confirms that it has today issued 114,240,816 fully paid ordinary shares in the capital of the Company ( Shares ) to sophisticated and professional investors under the share purchase plan shortfall ( SPP Shortfall ).

Each of the Shares were issued at an issue price of A$0.055 pursuant to the capital raising activities first announced to the ASX on 23 June 2021.

As a disclosing entity, the Company is subject to regular reporting and disclosure obligations. As the SPP Shortfall Shares were issued without disclosure under Part 6D.2 of the Corporations Act, as at the date of this notice, the Company confirms it has complied with:

• a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• b) section 674 of the Corporations Act.

The Company also confirms that, as at the date of this notice, there is no ‘excluded information’ within the meaning of sections 708A(7) and 708A(8) of the Corporations Act that is required to be set out in this notice under section 708A(6)(e) of the Corporations Act.

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 8 8981 6445 M: +61 447 298 752 E: penny@truenorthcomm.com.au

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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, year-round volumes will target export markets. To learn more please visit: www.seafarms.com.au

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