Seafarms Group Limited · ASX:SFG

Seafarms — Corporate Update (March 2022)

18 slides from Seafarms's corporate update, Mar 31, 2022

  1. Slide 1: Project Sea Dragon Review - Investor Briefing Presentation

    ASX Announcement | 31 March 2022 Seafarms Group Limited (ASX: SFG) SFG ASX Announcement No: 723 Project Sea Dragon Review - Investor Briefing Presentation Enclosed is the Investor Briefing Presentation for today’s online meeting at 12 noon AEST. As previously announced (722), Shareholders can attend

  2. Slide 2: Seafarms Group Limited

    Seafarms Group Limited 31 March 2022 1

  3. Slide 3: Agenda

    Agenda Project Sea Dragon (PSD) Project Review  Background and Project Status  Project Review Outcomes - Project Sea Dragon - Queensland Operations  Implications and Actions  Strategy Update  Next Steps 2

  4. Slide 4: PSD Project Review – Background

    PSD Project Review – Background Background  Project Sea Dragon (PSD) has been in development for 8+ years  A Capital Raise to support PSD construction was completed in June 2021  Construction was progressively mobilised through the latter half of 2021  Major Construction activity proceeded at Le

  5. Slide 5: PSD Status Update – 31 March 2022

    PSD Status Update – 31 March 2022  Legune Grow Out Construction continued through until Christmas before being suspended for the Wet Season until the end of March 2022 (in line with contractual arrangements)  At Legune 21 x 1Ha ponds partially constructed and work commenced on other ponds and infr

  6. Slide 6: PSD Project Review – Scope & Objectives

    PSD Project Review – Scope & Objectives PSD Project  Project Review initiated across the full PSD scope including; Workstreams Review – - Legune Grow Out facility, Exmouth Founder Stock Centre, Bynoe Harbour Breeding/Hatchery, Kununurra Processing Plant, associated Domestic & Logistics & infrastruc

  7. Slide 7: PSD Project Review – Summary

    PSD Project Review – Summary Summary  The company remains committed to delivering on the promise of Project Sea Dragon  The Project Review has identified a number of challenges, as well as opportunities to de-risk the Project  To deliver on its promise PSD will need to be export oriented, large s

  8. Slide 8: PSD Project Review – Key Outcomes (1 of 2)

    PSD Project Review – Key Outcomes (1 of 2) PSD Project  PSD cannot proceed in its current form Review – - There is no funding to proceed given failure of debt financing process  In any event the Project Review recommends against proceeding with PSD in its current form Key Outcomes - It will not ge

  9. Slide 9: PSD Project Review – Key Outcomes (2 of 2)

    PSD Project Review – Key Outcomes (2 of 2) PSD Project  All other economic factors for PSD (as currently scoped) are considered to be challenged or negative Review – - Construction, breeding, processing, operating costs and logistics are all challenged due to distance and remoteness Key - Infrastru

  10. Slide 10: PSD Project Review – Key Actions

    PSD Project Review – Key Actions PSD Project  PSD construction will continue to be on hold pending the following Review – - Completion of a successful Farming Pilot at Legune station - Refinement of other key Project elements eg further development of the Breeding strategy Key Actions - Availabilit

  11. Slide 11: Queensland Operations – Key Outcomes

    Queensland Operations – Key Outcomes Queensland  Qld operations will continue to supply fresh & frozen, cooked, high quality product to domestic customers Operations –  There is strong domestic demand for quality product, supported by pressure on wild caught fisheries and a renewed drive to locali

  12. Slide 12: Seafarms – Strategy Update

    Seafarms – Strategy Update Increase  Clear opportunity to increase domestic production to meet existing customer requirements domestic  Rebalance QLD production to best meet demand for high quality, fresh product volumes  Meet domestic customer demand for Banana prawns as well as Tiger prawns  R

  13. Slide 13: We invite general questions and thank you for your participation today.

    We invite general questions and thank you for your participation today. 12

  14. Slide 14: Thank You

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  15. Slide 15: Appendix: PSD Project Review – Summary

    Appendix: PSD Project Review – Summary Workstream Commentary Market Domestic and Int’l demand • Clear domestic and international demand for high quality product, varying specifications across markets Domestic supply • Not considered feasible to service fresh, cooked domestic market from PSD (esp. Ea

  16. Slide 16: Appendix: Queensland Operations – Summary

    Appendix: Queensland Operations – Summary Workstream Commentary Market • Increasing domestic demand for high quality Banana and Tiger prawns • Strong consumer and retailer preference for domestic supply, preference for cooked and fresh product • Continued pressure on wild caught fisheries and post c

  17. Slide 17: Appendix: Assessment Criteria

    Appendix: Assessment Criteria Project Sea Dragon Assessed against ability to meet existing scope, plan and objectives at acceptable cost and risk Green – able to proceed with existing plan Amber – not fully able to proceed but likely to be recoverable within the project time frame Red – not able to

  18. Slide 18: Appendix: Disclaimer

    Appendix: Disclaimer  This presentation is provided for information purposes only. The information in this presentation is in a summary form, does not propose to be complete and is not intended to be relied upon as advice to investors or other persons. The information contained in this presentation

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