SEAFARMS GROUP LIMITED — Capital/Financing Update 2021

Aug 12, 2021

ASX Announcement | 13 August 2021 Seafarms Group Limited (ASX:SFG) SFG Announcement No. 696

Results of share purchase plan

Sustainable aquaculture company Seafarms Group Limited ( Seafarms or the Company ) is pleased to confirm the results of its share purchase plan ( SPP ), which was first announced on Wednesday, 23 June 2021.

The SPP was well supported by existing shareholders, with Seafarms raising A$8,716,774.98. As previously foreshadowed, the Company has agreed to place the shortfall to sophisticated investors, taking the total amount to be raised to A$15,000,000.

The SPP shares will be issued to shareholders today, being Friday, 13 August 2021, and commence trading on ASX on Monday, 16 August 2021, whilst the shares issued pursuant to the shortfall are expected to be issued on or around Tuesday, 17 August 2021.

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