Announcement PDF ASX Announcement 1 December 2025 Page | 1 INVESTOR WEBINAR Sea Forest Limited (ASX:SEA) (“Company”) will host a webinar today (Monday, 1 December 2025) at 11:30 am (AEDT) to provide an overview of the Company and discuss recent business developments. Presenting from the Company will be: • Chair – John McKillop • Chief Executive Officer and Co-Founder – Sam Elsom • Executive Director and Co-Founder – Stephen Turner Investors will be able to submit questions via the Q&A function in Zoom. To register for the webinar, please follow this link: https://us06web.zoom.us/webinar/register/WN_28hG38pMSsOVllY0CYVFog A copy of the investor presentation to be delivered during the webinar is attached. This announcement has been authorised by the Board of Sea Forest Limited. INVESTOR AND MEDIA ENQUIRIES Ryan Thompson +61 423 151 378 Ryan.thompson@sodali.com Jack Gordon +61 478 060 362 Jack.gordon@sodali.com Aileen Bodart +61 432 160 136 Aileen.bodart@sodali.com ABOUT SEA FOREST Sea Forest Limited (ASX:SEA) is a science-based, leading Australian livestock feed additive manufacturer, utilising and replicating the science of methane abating Asparagopsis seaweed through its proprietary product SeaFeed™ to generate productivity improvements for farmers whilst reducing methane emissions created by ruminant livestock. SeaFeed™ has been scientifically formulated to replicate the beneficial properties of the red seaweed Asparagopsis and is proven to generate productivity improvements of over 6%1 while reducing methane emissions in ruminant livestock by up to 80%2. For more information, please visit: https://www.seaforest.com.au/ 1 George MM, Platts S V, Berry BA, Miller MF, Carlock AM, Horton TM, George MH. 2024. Effect of SeaFeed, a canola oil infused with Asparagopsis armata, on methane emissions, animal health, performance, and carcass characteristics of Angus feedlot cattle. Translational Animal Science. 8:txae116. doi:10.1093/tas/txae116. 2 Cowley FC, Kinley RD, Mackenzie SL, Fortes MRS, Palmieri C, Simanungkalit G, Almeida AK, Roque BM. 2024. Bioactive metabolites of Asparagopsis stabilized in canola oil completely suppress methane emissions in beef cattle fed a feedlot diet. Journal of Animal Science. 102:skae109. doi:10.1093/jas/skae109 Strictly Private & Confidential | 1 Productivity Efficiency and Decarbonising Livestock Webinar Presentation Sea Forest Limited (ASX:SEA) December 2025 Strictly Private & Confidential | 2 Important Notice & Disclaimer This presentation has been prepared by Sea Forest Limited (ABN 46 631 662 283) (Company). Statements in this presentation are made only as at 1 December 2025 and the information in this presentation (Information) remains subject to change without notice. No responsibility is assumed for updating any Information or to inform any recipient of any new or more accurate information or any errors or misdescriptions of which the Company becomes aware. The Information (a) is for information purposes only and is intended only for those persons to whom it is delivered by, or on behalf of, the Company; (b) is of a general nature and is not complete or verified; (c) is not a prospectus, product disclosure statement or other disclosure document for the purposes of the Corporations Act 2001 (Cth) (Corporations Act)) or the law of any other jurisdiction; (d) does not constitute investment, financial product, taxation or legal advice or a recommendation to acquire securities in the Company and is not intended to be used as the basis for making any investment decision; and (e) does not form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in, or refrain from engaging in, any transaction. The Company has not considered the objectives, financial position or needs of any particular recipients. This presentation and the Information is strictly confidential and is intended for the exclusive benefit of the persons to whom it is given to familiarise themselves with the Company and the business conducted by the Company. It may not be reproduced, disseminated, quoted or referred to, by anyone without the express consent of the Company. By receiving this presentation, you agree to keep the Information confidential and not to copy, use, publish, record or reproduce the Information without the prior written consent of the Company, which may be withheld in its absolute discretion. None of the Company, its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (each a “Limited Party”) guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the Information, contained in this presentation. No Limited Party makes any representation that this presentation is complete or that it contains all information that a prospective investor may require in evaluating a possible investment in the Company. This presentation contains certain forward looking statements and comments about future events, including the Company’s expectations about the performance of its businesses and certain strategic transactions. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, “anticipate”, “likely”, “intend”, “forecast”, “estimate” and other similar expressions. Guidance or outlook on, future earnings or financial position or performance are also forward looking statements. Forward looking statements involve inherent risks and uncertainties and many factors (which may be out of the Company’s control) could cause the Company’s actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in forward looking statements, and many of these factors are beyond the Company’s control. Forward looking statements should not be relied on as an indication or guarantee of future performance. As such, no reliance should be placed on any forward looking statement. Past performance is not a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements. By attending a presentation or briefing or receiving this presentation, you acknowledge and agree that (a) you understand the contents of this notice and that you agree to abide by its terms and conditions; and (b) the Company and the Limited Parties are relying on you complying with the contents of this notice and its terms and conditions and on the truth and accuracy of the representations, warranties, undertakings and acknowledgements given by you. This presentation is not an offer to sell or the solicitation, invitation or recommendation to purchase any securities and neither this presentation nor the Information shall form the basis of any contract. In particular, this presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. Sea Forest’s mission is to combat climate change through the mitigation of livestock methane whilst supporting livestock productivity Kingston Farm | Tasmania, Australia Strictly Private & Confidential | 4 Sea Forest Limited (ASX.SEA) – Company Snapshot Note (1) George MM, Platts S V, Berry BA, Miller MF, Carlock AM, Horton TM, George MH. 2024. Effect of SeaFeed, a canola oil infused with Asparagopsis armata, on methane emissions, animal health, performance, and carcass characteristics of Angus feedlot cattle. Translational Animal Science. 8:txae116. doi:10.1093/tas/txae116. John McKillop Sam Elsom Stephen Turner Non-Executive Chair Managing Director, CEO and Co-Founder Executive Director and Co-Founder Company Sea Forest Limited Ticker ASX.SEA Share price A$2.97 SOI 56.1 million Market Capitalisation A$139.58 million Options 3.7 million Corporate Information Board of Directors & Key Executives Brent Wallace Jules Scarlett Roger Millichamp Non-Executive Director Non-Executive Director Non-Executive Director Major Shareholders Shareholder Shares Held % RPG Management Pty Ltd 4,169,333 7.4% PGA Industries 3,748,488 6.7% Stephen Turner 3,401,987 6.1% Sam Elsom 3,225,057 5.6% Sea Forest is a leading Australian livestock feed supplement manufacturer. Its flagship product SeaFeedTM generates proven productivity improvements1 for farmers whilst reducing methane emissions created by ruminant livestock Teresa Garces Prof. Emeritus Rocky de Nys Dr Louise Edwards Chief Financial Officer Chief Scientific Officer Head of Product Development & Regulatory Affairs Strictly Private & Confidential | 5 Backed by Science ▪ World class research and production facilities, supported by a leading scientific team led by Professor Rocky de Nys ▪ Undertaken extensive R&D across the full cultivation and manufacturing process to produce a market leading technology Proven Performance1 ▪ Sea Forest’s flagship manufactured product is scientifically proven to reduce methane emissions, whilst supporting productive livestock performance ▪ Proven to generate feed conversion efficiency cost saving of $0.22 per head per day and $0.52 per head per day productivity gain in beef cattle1,establishing a compelling reason for customers to adopt the use of SeaFeedTM, regardless of the climate impact Significant Market Opportunity ▪ Over 3 billion livestock globally2 with the global livestock feed additives market estimated to reach ~$91 billion in 20323 ▪ Broad customer base across primary producers, distribution partners and downstream corporates including fashion, food, and beverage ▪ Growing demand for animal proteins and sustainable agricultural practices ensure Sea Forest is well placed to capture demand 118,000 Supplemented Head ▪ Agreement with Australia’s second largest feedlot operator Teys Australia with 70,000 head to be supplemented with SeaFeedTM ▪ Sea Forest also has supply agreements with Chadwick Consolidated Group, Ashgrove Cheese and Providore Global for an additional 48,000 head ▪ Existing customers have a combined 233,000 head of cattle under management and discussions underway with major Australian beef and dairy producers running over 700,000 head of cattle Global Partnerships & Trials ▪ Significant support from Bovine Dynamics, a reputed nutritional consultancy business in Australia servicing over 800,000 head of livestock ▪ Landmark strategic partnership with Belterra Agroflorestas, a leading Brazilian climate solutions company and Oisix Ra Daichi Inc., a leading Japanese food business ▪ International support from both global (including Mars and Fast Retailing) and local (including Grill’d and MJ Bale) brands Experienced Board and Management ▪ Experienced board and management team, led by CEO and Founder, Sam Elsom, 2025 Tasmanian of the Year and a leading voice in Australian sustainability ▪ Chair, John McKillop, is a leading voice in the Australian livestock industry and former CEO of Hancock Agriculture and S.Kidman & Co Investment Highlights Notes: (1) George M, 2025. Efficacy, safety and economic return of SeaFeedTM in cattle. (2) https://www.statista.com/statistics/263979/global-cattle-population-since-1990/, https://www.ciwf.org.uk/media/5235182/Statistics-Dairy-cows.pdf, https://iwto.org/sheep-wool/. (3) USD/AUD exchange rate: 0.65, https://www.marketresearch.com/DataM-Intelligence-4Market- Research-LLP-v4207/Global-Animal-Feed-Supplements-41430446/. Strictly Private & Confidential | 6 Introduction to Sea Forest Strictly Private & Confidential | 7 The Benefits of SeaFeedTM Rumen disruption is profitable for producers, processors, brands and retailers and essential for achieving enteric methane abatement Notes: (1) George MM, Platts S V, Berry BA, Miller MF, Carlock AM, Horton TM, George MH. 2024. Effect of SeaFeed, a canola oil infused with Asparagopsis armata, on methane emissions, animal health, performance, and carcass characteristics of Angus feedlot cattle. Translational Animal Science. 8:txae116. doi:10.1093/tas/txae116. (2) Gross value before costs. George M, 2025. Efficacy, safety and economic return of SeaFeedTM in cattle. (3) Cowley et al 2024: Cowley FC, Kinley RD, Mackenzie SL, Fortes MRS, Palmieri C, Simanungkalit G, Almeida AK, Roque BM. 2024. Bioactive metabolites of Asparagopsis stabilized in canola oil completely suppress methane emissions in beef cattle fed a feedlot diet. Journal of Animal Science. 102:skae109. doi:10.1093/jas/skae109 The SeaFeedTM product is: Key Benefits 6% $0.74 80% Increase in beef productivity1 Gross value created per head of cattle per day2 Abates up to 80% of enteric methane3 Livestock Suitability Grain Fed Dairies Pasture Fed Certifications Delivers SBTi’s VERRA 0041 compliant FAMI QS certified ✓ Value Generating For producers, processors, brands and retailers delivering $0.74 value creation per head per day2 ✓ Scalable Without disrupting existing farming practices through flexible delivery formats including oil, pellets and lick blocks ✓ Safe No adverse effects on animal health with support from leading livestock nutritionists ✓ Efficacious Delivers measurable emissions reduction that is both economical and efficient for customers Strictly Private & Confidential | 8 The Science Behind SeaFeedTM Including SeaFeedTM into ruminant feed prevents hydrogen and carbon dioxide molecules combining in the rumen to form enteric methane (CH4), improving feed efficiency, boosting productivity and reducing methane emissions Note: (1) Cowley et al 2024: Cowley FC, Kinley RD, Mackenzie SL, Fortes MRS, Palmieri C, Simanungkalit G, Almeida AK, Roque BM. 2024. Bioactive metabolites of Asparagopsis stabilized in canola oil completely suppress methane emissions in beef cattle fed a feedlot diet. Journal of Animal Science. 102:skae109. doi:10.1093/jas/skae109 1 When a cow eats grass or other fibrous plants, microbes inside the cow’s stomach, especially the rumen, use carbon and hydrogen from the formation of those plants to produce methane gas 2 The cow releases this methane gas into the atmosphere predominately through burping, as well as flatulence 3 SeaFeedTM prevents the formation of carbon and hydrogen atoms into methane by inhibiting a specific enzyme in the gut during the digestion of feed, reducing a cow’s methane production by 80%1 4 Research has found the carbon from the feed is redirected from methane to energy resulting in productivity gains Strictly Private & Confidential | 9 The Science Behind SeaFeedTM: Safety and Quality 38 peer reviewed scientific studies have proven the active ingredients in SeaFeedTM to be safe with no negative effect on quality in beef cattle, dairy cows or sheep Note: (1) ‘Primary literature studies testing Asparagopsis and bromoform_28.08.2025’. Proven Safety and No Residues: SeaFeedTM has been tested in peer-reviewed trials with no negative impact on animal health, no abnormalities, and no residues in meat, organs, or milk, even after more than five years of feeding. Global Regulatory Approvals: Fully approved for use in Australia and South Africa, with regulatory approval processes underway in the European Union, United Kingdom and Brazil. Uncompromised Product Quality: There is no impact on the taste or texture of products, ensuring quality remains uncompromised. SeaFeedTM is fed daily, creating customer retention from early mover advantage. Impact of SeaFeedTM inclusion on Methane Production1 Strictly Private & Confidential | 10 Target Markets and Commercialisation Strictly Private & Confidential | 11 Significant Market Opportunity The global livestock feed supplement market is expected to reach $90.7 billion by 2032, driven by rising demand for animal proteins and a growing trend towards sustainable, low emission agricultural practices Overview and Key Market Drivers ▪ The global livestock feed supplement market was valued at $58.8 billion in 2024 and is expected to grow at a compound annual growth rate of 5.7% to reach $90.7 billion in 20321 ▪ Increasing demand for animal-based proteins driven by population growth and shifting consumer preferences for more sustainable and environmentally friendly meat production are expected to be the major growth drivers for the industry over the next 7 years2 ▪ Further, downstream corporates within the livestock supply chain such as fashion brands and food and beverage companies are already seeking solutions to produce low emissions products evidenced by Mars, Inc. recently pledging US$27 million to reduce on-farm emissions3 ▪ Sea Forest’s solution is proven to improve livestock feed efficiency and productivity gains by 6%4 while reducing methane emissions by up to 80%5, ensuring they are well positioned to capture the growing demand for animal proteins while addressing shifting customer preferences ▪ Additional opportunities exist for Sea Forest through the introduction of carbon credits, currently estimated to be valued at up to $0.16 per head per day6 for animals using SeaFeedTM Notes: (1) USD/AUD exchange rate of $0.67. https://www.marketresearch.com/DataM-Intelligence-4Market-Research-LLP-v4207/Global-Animal-Feed-Supplements-41430446/. (2) https://www.oecd.org/en/publications/2025/07/oecd-fao-agricultural- outlook-2025-2034_3eb15914/full-report/meat_5462e384.html. (3) https://www.mars.com/news-and-stories/press-releases-statements/mars-pledges-27m-usd-for-farmer-forward-program. (4) George MM et al 2024. Effect of SeaFeedTM, a canola oil infused with Asparagopsis armata, on methane emissions, animal health, performance, and carcass characteristics of Angus feedlot cattle. Translational Animal Science. 8:txae116. doi:10.1093/tas/txae116. (5) Cowley et al 2024: Cowley FC, Kinley RD, Mackenzie SL, Fortes MRS, Palmieri C, Simanungkalit G, Almeida AK, Roque BM. 2024. Bioactive metabolites of Asparagopsis stabilized in canola oil completely suppress methane emissions in beef cattle fed a feedlot diet. Journal of Animal Science. 102:skae109. doi:10.1093/jas/skae109. (6) Assumes generic carbon price per tonne of $40.00. Australian Government Clean Energy Regulator, Carbon Market Report, June Quarter 2025 $58.8 $90.7 2024 2032 Global Livestock Feed Supplement Market1 CAGR (2024 – 2032): 5.7% Strictly Private & Confidential | 12 Competitive Landscape There are three existing livestock feed supplements commercially available in market proven to reduce methane emissions produced by ruminant animals In Market Early Stage Company Bovaer (DSM Firmenich)3 Agolin (Alltech) ▪ Rumin8 ▪ Enterix ▪ CH4 Global ▪ Ocean Harvest ▪ Other early-stage concepts not listed Abatement Up to 80%1 Up to 30% Up to 10%4 Productivity Gain 6%2 Not observed on commercial scale Not observed on commercial scale Delivery Method Oil based, lick block and pellets, with water delivery under trial Powder Oil based Scalability Low cost High capex (US$130 million per 5 million head) Low Cost Available Supply? Yes 4 year wait for supply expansion Yes Sea Forest has the highest methane abatement1 of all products currently in-market and is proven to improve feed efficiency and generate productivity gains2 Notes: (1) Cowley et al 2024: Cowley FC, Kinley RD, Mackenzie SL, Fortes MRS, Palmieri C, Simanungkalit G, Almeida AK, Roque BM. 2024. Bioactive metabolites of Asparagopsis stabilized in canola oil completely suppress methane emissions in beef cattle fed a feedlot diet. Journal of Animal Science. 102:skae109. doi:10.1093/jas/skae109. (2). George MM, Platts S V, Berry BA, Miller MF, Carlock AM, Horton TM, George MH. 2024. Effect of SeaFeedTM, a canola oil infused with Asparagopsis armata, on methane emissions, animal health, performance, and carcass characteristics of Angus feedlot cattle. Translational Animal Science. 8:txae116. doi:10.1093//tas/txae116/tas/txae116 (3) DSM Firmenich Website (4) Feedworks website, Agolin and Feedworks enteric methane abatement project. Strictly Private & Confidential | 13 SeaFeedTM has a Demonstrated Market SeaFeedTM is targeting three core markets, with a focus on direct supply to primary producers Core Focus Target Customer Primary Producers Supply Chain Integrators Downstream Corporates Description Directly involved in the raising and managing of livestock for meat, dairy and other animal products. SeaFeedTM is proven to be low cost and profitable for livestock owners whilst allowing them to produce a low emissions product. Supply of products and services to livestock producers, such as feed manufacturers, distributors and providers. Sea Forest sells and licenses SeaFeedTM to these integrators leveraging the integrators existing network of customers and utilising the relationships already established. Businesses with livestock-derived products in their supply chains, seeking to reduce their emissions. By eliminating scope 3 emissions from their supply chains, these downstream corporate customers are able to price their products with a ‘green premium’. Sea Forest Strategy Core market for Sea Forest with a focus on domestic producers. Expands selling capabilities and provides a pathway into international markets. Focus on sustainability whilst providing additional channel into new customers with substantial reach. Commercial Supply: Existing Customers Teys Australia, Chadwick Consolidated Group, Ashgrove Cheese and Providore Global Orffa and Olsson’s MJ Bale and Grill’d Trials and Partnerships Currently undertaking trials with Fonterra, Rangers Valley and Friesland Campina while continuing discussions across the dairy and wool industries. Significant support from Bovine Dynamics, Australia’s leading livestock nutritionists servicing over 800,000 head of livestock. Strategic partnerships with Belterra Agroflorestas, and Oisix Ra Daichi. Currently undertaking trials with Myton Food Group (Morrisons), Uniqlo, Mitsui & Co. (Australia) and Mars to decarbonise their respective sheep, beef and dairy supply chains. Strictly Private & Confidential | 14 Commercialisation Progress Sea Forest has 118,000 head under supply agreements with these existing customers having the potential to increase the use of SeaFeedTM up to 233,000 head Chadwick Consolidated Group Teys Australia Ashgrove Farms Providore Global Location Northern NSW Eastern Aus Tasmania Western NSW Current SeaFeedTM Head to be Supplemented 30,000 70,000 6,000 12,000 Total Head Managed 30,000 185,000 6,000 12,000 Pipeline Sea Forest needs just 100,000 head to be cashflow breakeven and is currently in discussion with major Australian cattle and dairy producers managing 700,000 head of livestock Strictly Private & Confidential | 15 ▪ Sea Forest has satisfied regulatory requirements or has applications in progress for the use of SeaFeed across most major livestock producing jurisdictions globally ▪ Australia remains the key focus for continued commercialisation and expansion with South Africa a medium-term growth region having 75% of its beef products coming from feedlots1 ▪ Building a robust portfolio of jurisdiction-specific trial results is key to accelerating SeaFeed adoption beyond Australia ▪ Sea Forest plans to establish distribution centers in priority regions to address these new markets Jurisdiction Head of Cattle Initial Discussions Regulatory Approval Trials Commenced In Market Australia 30.0 million2 South Africa 12.8 million3 United Kingdom 9.4 million4 Sea Forest has applied for regulatory approval European Union 72.0 million5 Sea Forest is in the process of applying for regulatory approval Brazil 238.0 million6 Sea Forest is in the process of applying for regulatory approval Strategy and Path to Market While Sea Forest’s core focus remains on the Australian market, the Company is actively pursuing pathways to market in key international jurisdictions, satisfying regulatory requirements and establishing partnerships Achieved Notes: (1) https://www.thepoultrysite.com/news/2024/12/south-african-feed-market-continues-to-optimize. (2) https://www.abs.gov.au/statistics/industry/agriculture/australian-agriculture- livestock/latest-release. (3) Norman H Casey, A profile of South African sustainable animal production and greenhouse gas emissions, Animal Frontiers, Volume 11, Issue 4, July 2021. (4)https://ahdb.org.uk/news/beef-lamb-market-update-defra-s-june-survey-shows-uk-beef-and-sheep-populations-at-historic-lows. (5) https://ec.europa.eu/eurostat/web/products-eurostat- news/w/ddn-20250626-1. (6) https://usdabrazil.org.br/wp-content/uploads/2021/03/The-Brazilian-Bovine-Genetics-Market-and-US-Exports_Brasilia_Brazil_03-01-2021-1.pdf. Strictly Private & Confidential | 16 Commercialisation Pipeline and Near-Term Catalysts Sea Forest has a clear path towards significant growth both domestically and globally, commercial supply agreements in place and discussions ongoing for supply to additional Australian beef and dairy producers Sea Forest’s growth strategy is focused on: ▪ Leading the Australian livestock feed additive market, primarily focused on establishing contracts and partnerships with Australia’s leading beef and dairy producers ▪ Growth opportunities via corporate partnerships ▪ Expanding its global footprint with key regulatory approvals either secured or underway and distribution partnerships in place ▪ Developing complementary long-term product lines and entry into new markets Australian cattle market provides clear path to profitability Positioned to establish a strong presence in foreign markets ✓ Chadwick Consolidated Group ✓ Teys Cargill ✓ Ashgrove Farms ✓ Providore Global ✓ Myton / Morrisons ✓ ORFFA ✓ Belterra Agroglorestas ✓ Oisix Ra Daichi ✓ USC Partnership ✓ Deakin University Partnership Horizon 3 ▪ Product innovation, including SeaFeedTM Sustain & Hybrid ▪ Aquaculture ▪ Nutraceuticals R&D Horizon 2 ▪ Global expansion through international partnerships and the establishment of facilities in key growth regions ▪ Regulatory approvals underway Horizon 1 ▪ Dominate the Australian domestic beef and dairy cattle market Strictly Private & Confidential | 17 Outlook With a number of expected short term milestones ahead and a clear pipeline for growth, Sea Forest remains focused on executing its mission to combat climate change through the mitigation of livestock methane and enhancing livestock productivity Onboarding of additional head with existing customers – up to 233,000 total head Conversion of pipeline of domestic feedlots into new contracts – current pipeline of 700,000 head Progression of regulatory approvals and customer trials in Brazil, South Africa and other international jurisdictions Improvement of the Sea Forest distribution network through the establishment of an additional production facility Expansion of the Company’s registered Voluntary Carbon Credit program Strictly Private & Confidential | 18 Thank you Sea Forest HQ Tasmania, Austral