Clearwater Seafood - Economic Impact and Strategic Partnerships

Current Economic Events CETA The Canada-EU Comprehensive Economic and Trade Agreement (CETA) has been provisionally applied, pending ratification, and the treaty has eliminated 98% of the tariffs between Canada and the EU. Europe is one of the world's top consumption markets for seafood. Europe is a major export market for Clearwater products, representing approximately 35% of total sales or $206 million in 2018. Clearwater anticipates the reduction in tariffs to lead to accelerated growth in the European market. СРТРР • The Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP") has just started, and we expect some favorable tailwinds from tariff reductions and greater access to the most dynamic markets in the Asia-Pacific region. The CPTPP will create an eleven country trading block including Canada, and representing 495 million people, with a combined gross domestic product of $13.5 trillion or 13.5% of global GDP. China & US Trade Ongoing trade disputes between the US and China has triggered a series of regulatory tariffs on seafood. The outcome from the ongoing trade war is difficult to predict and any near-term benefits for the Canadian marketplace may be short-lived. Clearwater remarkable seafood, responsible choice 27 27

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