• Raised $10.1 million at $0.15 per share
• 67.59% take-up rate from eligible institutional shareholders
• Retail entitlement offer to open on May 8, 2026

Murray Cod Australia Limited (ASX:MCA) has announced the successful completion of the institutional component of its fully underwritten 1-for-1 accelerated non-renounceable entitlement offer (Entitlement Offer) of fully paid ordinary shares. The Institutional Entitlement Offer raised approximately $10.1 million at an issue price of $0.15 per new share, resulting in the issuance of around 67.2 million new shares. The Institutional Entitlement Offer received strong support from the company's eligible institutional shareholders, with a take-up rate of approximately 67.59%. Entitlements not taken up by eligible institutional shareholders, as well as those of ineligible institutional shareholders, were offered and placed to other eligible institutional investors. Settlement of the new shares issued as part of the Institutional Entitlement Offer is expected to occur on May 11, 2026, with the shares to be issued and ordinary trading to commence on May 12, 2026. The retail component of the Entitlement Offer will open on May 8, 2026 and close on May 20, 2026, providing eligible retail shareholders the opportunity to participate at the same issue price and entitlement ratio as the Institutional Entitlement Offer.