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Ocean Harvest Technology Group plc

("OHT", the "Company", or the "Group")

Strategic and funding update

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry, gives an update on its funding which has been most recently provided through the issue of secured loan notes to certain shareholders on 30 September 2024 ("the Fundraising").

The Fundraising of £1.5m provided much needed capital but against a loss of €2.1m in the six months to 30 June 2024, was only sufficient to allow the business to execute on its growth plans into 2025.   Whilst this growth has begun to feed though with revenues 65% higher in Q1 year-on-on year, the Company remains loss making.

Accordingly, the Company has been considering its funding needs since late Q1 and has been discussing funding plans with investors since late April and, against a challenging market backdrop, has yet to secure commitments. Ocean Harvest remains in discussions with a number of investors with regards potential funding.

As at 30 April 2025, the Company, held stock of £1.2m and a cash balance of £0.4m. While the Company has sufficient cash resources to fund its operations until mid-June and the Board will seek to preserve its cash resources as far as practicable, it urgently requires a commitment for alternative sources of funding to be able to continue as a going concern.  Accordingly, thehe Board is continuing to explore  a number of options.

The Company will provide an update once it has further clarity on its funding position.

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Notes to Editors

Ocean Harvest Technology Group plc is a global leader in the development and commercialisation of value adding proprietary products from blending multiple species of seaweed. The Company provides a range of natural additives focused on improving animal performance and the sustainability of the feed chain, through its unique and proven proprietary seaweed blends. The Company sources its seaweed globally, utilising sustainable and socially responsible harvesting of largely wild blooming seaweed species.  Its products are produced in its facility in Vietnam and sold into the $40bn animal feed additive sector in multiple markets across the world.