Announcement PDF ACN 009 104 330 Level 5, 126 Phillip Street, Sydney NSW 2000, Australia 14 December 2023 Company Announcements Pla�orm Australian Securi�es Exchange Sale of pla�orm in East Johor Strait Highlights • • • BP8 sells the floa�ng pla�orm in the East Johor Strait. Sale proceeds a boost to the Company’s cashflow posi�on Reloca�on of seaweed R&D ac�vity Further to previous announcements made by the Board of BPH Global Ltd (ASX: BP8) (Company) regarding its strategic review of the Company’s seaweed opera�ons, the Board is pleased to announce that the Company has entered into an agreement for the sale of the floa�ng pla�orm in the East Johor Strait. Background The Company’s ongoing strategic review of its seaweed opera�ons has included an in-depth, thorough review of the viability of the floa�ng pla�orm in the East Johor Strait. It has been a significant legacy issue for the new management team since the Company re-commenced trading on the ASX in late March this year. The floa�ng pla�orm is owned by SCU-RY Farm Pte. Ltd. (SCU-RY), a joint venture company incorporated for the purpose of acquiring and opera�ng the floa�ng pla�orm. The BP8 Group through the Singapore-based subsidiary Stemcell United Pte. Ltd. (SCU-SG) holds 70% of the issued capital of SCU-RY, and Rong-Yao Fisheries Pte. Ltd. (RY) the remaining 30% (in aggregate, the Sale Shares). In conduc�ng its review of the viability of the floa�ng pla�orm, the Company considered a range of poten�al op�ons, including: opera�on of the pla�orm in its current posi�on; dismantling the pla�orm or selling the pla�orm to a third party. Opera�ng the pla�orm for the purposes of growing seaweed would have cost the Company approximately SGD15,000 per month, a very significant sum given the challenges the Company endured in its efforts to farm seaweed on a commercial basis in the East Johor Strait. The Board concluded that seaweed could not be cul�vated and harvested on a commercial basis in the East Johor Strait. Dismantling the pla�orm would have cost a minimum of SGD150,000. Given these alterna�ves, the Company focused its efforts on loca�ng a buyer for the pla�orm. Sale agreement The sale of the floa�ng pla�orm is achieved by sale of the joint venture company SCU-RY. SCU-SG and RY have entered into an agreement to sell their shares in SCU-RY to a Singapore-based, third party buyer, Hule Pte. Ltd. (Purchaser). Comple�on of the acquisi�on is due to take place by Monday, 18 December, 2023. The purchase price for the Sale Shares is SGD210,00 minus certain costs incurred by the Purchaser, such that the net sale price is SGD192,500. SCU-SG and RY have agreed to split the net sale price between them on an 85:15 basis such that SGD163,625 is to be paid by the Purchaser to SCU-SG and SGD28,875 is to be paid by the Purchaser to RY. The sale of the pla�orm represents a major milestone for the Company. BP8’s share of the purchase price will cons�tute a significant boost to the Company’s cash reserves. On Comple�on, the Company’s management will no longer be burdened with the obliga�on of maintaining the pla�orm and can focus on its R&D ac�vi�es in the Company’s seaweed program. Had the Company been le� with no op�on other than to dismantle the pla�orm, it would have required a substan�al capital outlay and would have required management �me that could otherwise be spent on developing exis�ng and new business opportuni�es. St John’s Island R&D facility: As part of the Company’s ongoing review of its seaweed opera�ons, the Company has decided to terminate its exis�ng lease of its premises at the Singapore Aquaculture Centre on St John’s Island and to combine its R&D opera�ons with those of its consultant, Gaia Mariculture Pte Ltd (Gaia Mariculture). Following execu�on of the R&D facility management agreement with Gaia Mariculture, the Company has determined that it will be best served in its efforts to develop its proprietary technology for the commercial cul�va�on of seaweed and for the extrac�on of nutraceu�cals if it relocates its opera�ons to shared premises with Gaia Mariculture. This decision will avoid unnecessary duplica�on and costs that arise from opera�ng on mul�ple sites and the travel �me taken moving between sites. Shared premises will also maximise collabora�on and joint enterprise opportuni�es. - END Authorised for lodgement by the Board of the Company For further informa�on, please visit our website at www.bp8global.com or contact: Mr Paul Stephenson Chairman BPH Global Limited E: pauls@bp8global.com