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Pörssitiedote

BARRA: Exploring strategic options for the Australian operations

Barramundi Group
As communicated in earlier releases, Barramundi Group is in a process to find a
strategic partner in Australia. Following discussions with various potential
investors, Barramundi Group has now decided to also consider a complete
divestment of the business.

In April 2022 Barramundi Group applied for 13 new licenses to grow the
operations from its current volume of approximately 1,600 tonnes of yearly
harvest volume into a long-term volume of 30,000 tonnes per year. This growth
will require funding of a scale that cannot be borne by Barramundi Group alone.

As the half yearly report released 30 August 2022 shows, the Australian business
is currently not profitable. Management is actively working on pricing
adjustments and cost saving measures which are expected to result in improved
margins that will bring the business closer to profitability.

An update on the progress on this project will be given no later than in the Q3
business and financial update, scheduled for 29 November 2022.

For media and investor inquiries, please contact:

Andreas von Scholten
Chief Executive Officer
Barramundi Group
Phone: +65 6261 0010
Email: investors@barramundi.com

Helen Chow
Chief Financial Officer
Barramundi Group
Phone: +65 6261 0010
Email: investors@barramundi.com

Company investor centre
https://barramundi.com/investors/

About Barramundi Group
Barramundi Group brings great-tasting premium quality fish to the world, with
sustainability at our core. The Group's mission is to help close the world's
protein gap by tapping into the potential of barramundi. Through their
pioneering, world-class research and technology, their sustainable best
practices enable them to produce responsibly-farmed barramundi while
safeguarding the world's oceans and environmental resources.

As the one of the largest barramundi producers in Australasia, Barramundi Group
operates through a unique end-to-end aquaculture model, with comprehensive
in-house capabilities ranging from vaccine development, end-product innovation
and processing, to hatchery facilities.

The Group also boasts a robust commercial reach across key markets including
Singapore, Australia, China, Hong Kong, South Korea, and the U.S. Barramundi
Group's future growth plan looks to tap into the growing global demand for
barramundi and the overall consumer trend towards sustainable consumption, which
is projected to increase exponentially over the next five years.
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