• BPH Global's Indonesian subsidiary enters Stage 2 of collaboration with Indonesia's BRIN
• Stage 2 focuses on fucoidan extraction technology and prototype development
• Prototype expected within 3 months, with potential progression to commercialization

BPH Global Ltd (ASX: BP8), a leading commercial seaweed supply and export company, has announced that its Indonesian operating subsidiary, PT BPH Global Indonesia, has executed a binding Cooperation Agreement and accompanying Terms of Reference with Badan Riset dan Inovasi Nasional (BRIN), Indonesia's National Research and Innovation Agency. This follows the execution of a binding Memorandum of Understanding (MoU) between the parties, announced on 6 February 2026, and marks the transition from Stage 1 (framework collaboration) to Stage 2 (project execution) under BRIN's structured innovation model. Stage 2 will focus on joint research and technical development, raw material characterization, scale-up of extraction processes, quality standardization, and the development of a fucoidan-based powdered supplement prototype for use as a food and beverage additive. The project will be funded through a combination of direct expenditure by BPH Global and in-kind contributions from BRIN. Work under the Stage 2 agreements is expected to commence in the coming week, with a prototype targeted within approximately three (3) months. Upon successful completion of this proof-of-concept phase, the parties intend to assess technical and commercial viability, progress discussions regarding licensing of BRIN technology, and consider advancement to Stage 3 (commercialization).

The successful completion of the prototype phase is expected to inform progression to Stage 3 commercialization, which would be governed by separate commercial agreements between the parties.