Ann: Convertible Note Entitlement Offer Closed, page-2

Hmm, so about 60% take up when oversubscriptions are taken into consideration.

In excess of 1,500 shareholders took up part or all of their entitlement, and 38% of subscriptions
received were for additional Notes in excess of shareholder entitlements. In total, subscriptions
for approximately $9.6 million have been received, which provides the majority of the funding
Clean Seas requires to implement its “Vision 2025” strategic plan.

The Directors intend to issue Notes to all shareholders who have subscribed under the Offer. In
consultation with the Lead Manager to the Offer, Canaccord Genuity, the Company will seek to
place up to 5,785,934 Notes representing the Shortfall to the Offer.

The Notes commenced trading on a deferred settlement basis on 18 November 2019 under the
ASX Ticker code CSSG. Holding statements will be despatched to Noteholders on 22 November
2019 and the Notes will commence trading on ASX on a normal settlement basis on 22 November
2019.