New Warrant Issue for Barramundi

16 October 2018 New Warrant Issue for Barramundi The directors of Barramundi Limited ("Barramundi") are pleased to announce that the company will undertake a pro rata offer of warrants to shareholders. The purpose of the offer is to raise capital as part of Barramundi's ongoing capital management programme and provide investors the ability to purchase additional shares in Barramundi at a pre-determined Exercise Price. The offer also aims to increase the size of the portfolio and improve operational efficiency. The net proceeds of the offer are expected to be used for further investment in the Barramundi portfolio. On the record date, Barramundi shareholders will be issued one warrant for every four shares held. The record date for the issue is 31 October 2018 and the warrants are expected to be allotted on 1 November 2018. Each warrant gives shareholders the right, but not the obligation, to subscribe for one additional ordinary share in Barramundi on the exercise date. The exercise date is 25 October 2019. The exercise price will be $0.64 less any dividends declared during the period up to the exercise date. The final exercise price will be calculated and advised to warrant holders at least 20 days before the exercise date. The warrants are expected to be quoted on the NZX Main Board from 2 November 2018 under the issuer code BRMWE. Contact Alistair Ryan Chair Barramundi Limited End CA:00325384 For:BRM Type:OFFER Time:2018-10-16 16:15:46