• Biomass increased to 2,100t, up 192% over previous corresponding period
• Fresh fish sales increased by 7.6% over previous corresponding period
• Expanded sales strategy with international expos and new certifications

Murray Cod Australia Ltd (MCA) reported its Quarterly Cash Flow Report and Quarterly Activities Report for the quarter ended 31 March 2025 (Q3 FY25). Highlights include continued focus on biomass growth, with biomass increasing to 2,100t, up 192% over the previous corresponding period (pcp). The total number of fish over 1.2kg+ has increased by 105% pcp. Fresh fish sales increased by 7.6% pcp, positioning MCA well for further growth. MCA commenced its sales strategy in March 2025, with a focus on expanding its sales footprint both domestically and internationally. The company attended seafood expos in Japan, Singapore, and Barcelona, with positive discussions underway with potential partners. MCA is also in the process of obtaining Halal and BAP (Best Aquaculture Practices) sustainability certifications, and seeking to include 'Aquna Cod' on the approved processed product list for export to China. Construction of the Stanbridge site is now complete, with 51 ponds stocked and fully utilized. MCA also welcomed Steven Chaur as a Non-Executive Director, strengthening the board's sales and marketing experience.

Management anticipates approximately 1,000t will need to be harvested by the end of FY26 spawning season (January 2026) to accommodate inventories and continue fully utilizing MCA's existing infrastructure.

With a larger volume of fish becoming available from May 2025 onwards, management anticipates Q1 FY26 will see an increase in total sales as part of a sustainable growth pattern through to the end of FY27. MCA will seek to increase supply and broaden its distribution to new and existing domestic customers, as well as select international markets.