Investor Presentaiton

Capital Structure Terms of Shares, Options & Performance Rights Shares Fully Paid Ordinary Shares Fully Paid Ordinary Shares (Escrowed) Total Shares on Issue Options Number 154,357,693 19,752,567 174,110,260 Escrow Expiry N/A 14 Nov 2019 Number Exercise Price 8,807,452 30 cents Expiry Date 28 Dec 2020 Escrow Expiry 10,039,450 39 cents 30 Sep 2021 14 Nov 2019 14 Nov 2019 2,500,000 44 cents 30 Sep 2021 14 Nov 2019 Series A Options (Corporate Adviser)* Series B Options (Corporate Adviser)* Series C Options (Non-Executive Directors)** * View Street Capital Partners has acted as Corporate Adviser to the Company ** Issued to the Non-Executive Chairman (Peter Harold) and the Non-Executive Director (Danielle Lee). Performance Rights*** Number Expiry Date Escrow Expiry Class A Performance Rights (Managing Director) 4,000,000 31 Dec 2018 Class B Performance Rights (Managing Director) Class C Performance Rights (Managing Director) 4,000,000 4,000,000 14 Nov 2019 14 Nov 2019 14 Nov 2019 14 Nov 2022 14 Nov 2019 *** Performance conditions attached to the Performance Rights are as follows: • Class A Performance Rights: Prior to 31 December 2018, the Company completes its Flinders Bay 2 Project in Augusta, with completion deemed to occur upon the deployment and seeding of 5,000 Abitats at the Flinders Bay 2 Project site. Class B Performance Rights: Within 2 years from the date the Company is admitted to the Official List of the ASX, the Company recognises revenue from the sale of 100 tonnes of abalone combined from Flinders Bay 1, Flinders Bay 2, Wylie Bay and Port Lincoln Development projects in any 12 month period. Class C Performance Rights: Within 5 years from the date the Company is admitted to the Official List of the ASX, and subject to the Board determining the success of a material part of the Port Lincoln Development Project, the Company (either on its own or together with an affiliate or joint venture partner) deploys and seeds a cumulative total of 5,000 Abitats across one or more commercial project sites within South Australia. Ocean Grown Abalone 26

View entire presentation