New Warrant Issue for Barramundi

26 August 2020 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 2 October 2020 and the warrants are expected to be allotted on 5 October 2020. 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 29 October 2021. The exercise price will be $0.70 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 six weeks before the exercise date. The warrants are expected to be quoted on the NZX Main Board from 6 October 2020 under the issuer code BRMWF. The Warrant Terms Document will be sent to shareholders in September 2020. Contact Wayne Burns Corporate Manager Barramundi Limited End CA:00358734 For:BRM Type:OFFER Time:2020-08-26 15:44:33