New Zealand Coastal Seafoods Limited (NZCS, the Company) announced that the Company has entered into a Supply Agreement (Supply Agreement) with Talley's Limited (Talley's) for bone-in and boneless Ling Maw, Green-Lipped Mussel meat and Ling and Hoki Fish Skin products. NZCS has been working with Talley's for several years and, until now, has relied solely on its established relationship for its supply of raw seafood without any formal agreements in place. The Supply Agreement now further secures NZCS's supply of raw seafood from a reputable business, significantly de-risking the supply side of the business as the Company enters the next stage of growth. Under the Agreement, Talley's has agreed to supply NZCS with predetermined maximum quantities of the seafood products listed below, at prevailing market prices on a best endeavours basis, subject to successful fishing and procurement activities and/or availability of stock at the time of purchase: Fresh boneless Ling Maw; Frozen bone-in Ling Maw; Frozen Green-Lipped Mussel meat; Frozen Ling fish skin; and Frozen Hoki fish skin. The committed supply quantities represent approximately 50% of the Company's current annual production capacity, providing increased security of supply for the Company. The Supply Agreement does not confer an obligation on NZCS to purchase the quantities listed above. The Supply Agreement will run for an initial period of 12 months and may be terminated by either party upon giving two months written notice.