Murray Cod Australia (MCA) investor relations material

Market opportunity and industry context

• Rising global demand for fish protein is outpacing supply as wild fish stocks decline, creating a need for sustainable aquaculture solutions.

• Aquaculture is the fastest-growing food production sector, now providing nearly half of all fish consumed globally and projected to reach 62% by 2030.

• Australian aquaculture benefits from high international standards and proximity to Asia, positioning it for high-value exports.

Product and competitive advantages

• Murray cod is a premium, native Australian freshwater fish with no wild catch or significant farmed competition.

• The species is highly suitable for aquaculture due to high stocking density tolerance, efficient feed conversion (1.5:1), and adaptability to artificial diets.

• Wholesale prices for Murray cod are significantly higher ($18–$22/kg) than other major farmed species in Australia.

• Barriers to entry include unique habitat requirements, limited brood stock, and proprietary cage/pond systems.

Business model and growth strategy

• Operations integrate hatchery, nursery, and grow-out ponds, with fingerlings also sold to contract growers.

• Current production capacity is 450 tonnes, with a target of 1,000 tonnes by 2021 and 10,000 tonnes by 2030.

• Additional revenue streams include sales of cage systems and fingerlings.

• Falling costs and increased scale are expected from business consolidation.