SFG SPP Appendix 3B

Name of entity

Seafarms Group Limited

ABN

50 009 317 846

1

+Class of +securities issued or to be issued

Fully paid ordinary shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

77,185,172 ordinary shares issued pursuant to the Share Purchase Plan (see capital raising announcement to ASX dated Friday, 2 June 2017 for further information).

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares.

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

+securities?

If the additional +securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes.

5

Issue price or consideration

$0.06 per share.

6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

The Share Purchase Plan has been undertaken to fund the development of Project Sea Dragon and for general working capital and corporate purposes and to recognise the loyalty and support of shareholders prior to the placement announced on 2 June 2017 (Placement) and offer those shareholders shares at the same price as those shares issued to investors under the Placement

Further details of which are set out in the ASX announcement dated 2 June 2017 and Notice of Meeting dated 5 June 2017.

6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes.

6b

The date the security holder resolution under rule 7.1A was passed

25 November 2016

6c

Number of +securities issued without security holder approval under rule 7.1

Nil

Number

+Class

30,150,189

Convertible Preference Shares

6d

Number of +securities issued with security holder approval under rule 7.1A

Nil

6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

Nil

6f

Number of +securities issued under an exception in rule 7.2

77,185,172

6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the

+issue date and both values. Include the source of the VWAP calculation.

N/A

6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

N/A

6i

Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7.1 - 154,503,288

7.1A - 0

7

+Issue dates

30 June 2017

Number

+Class

8

Number and +class of all

+securities quoted on ASX (including the +securities in section 2 if applicable)

1,361,868,033

Ordinary fully paid shares