Sea Forest CEO speaks with Proactive at the ASX SMIDcaps Conference

0:00With me now live from the ASX Small Midcaps Conference is C Forest Theo Sam Elson. C Forest is an Australian Environmental Technology Company delivering commercial climate solutions to agriculture and downstreams the five veins. Sam, nice to meet you. Great to be here. Thanks for having me. Now can you tell us about C Forest and the benefits of C Fiend? Sure, C Forest is an environmental technology company based in Tasmania. We have started in 2018 and we produce a product called C Fiend. It is made by utilizing and replicating the bioactive compounds from a native red seaweed called asparagopsis. That when fed to livestock at 0.2% of their diet can virtually eliminate methane emissions up to 80% methane reduction whilst delivering positive performance outcomes and 6% increase

1:00in productivity. What that leads to really is around 76% of total value for the farmer which is the real economic driver. So we have both quite a powerful and potent climate solution coupled with positive unit economics. A C Fiend revenue group 486% in FY26 with underlying EBITDA improving 50% what's driving that growth? It really is the growing number of customer agreements that we've had. So in particular across the grain fed beef market in Australia there's 1.8 million ahead of cattle in that segment of the market and C Fiend is made very strong progress and that progress has been driven by the positive unit economics. So really that for every dollar spent farmers are getting more than a dollar back. You've struck partnerships taking C Fiend into Brazil, Japan and potentially South Africa. How significant is that international expansion for the business?

2:04It is hugely significant. I mean one of the amazing opportunities that C Fiend has, we're a first mover. We have not only one of the most efficacious products in the market but we also have one that is delivering positive unit economics and we're really without a lot of competition. So we understand and recognise that the need to move quickly but also recognising that there's 3 billion ahead of livestock globally and that this is a multi-billion dollar global opportunity. So expanding into those key jurisdictions where livestock numbers are high is a priority for us. With 131,000 ahead of cattle now under agreement and a global market opportunity worth $19.7 billion by 2032, what's the investment case for C Forest from here? Well as I said I think with C Forest has developed a product that is unique in that it's delivering not only significant environmental outcomes but positive unit economics and

3:04it's ratifying such a potent climate tool that does this in particular we're leading the charge and pioneering the not just emissions reduction within the livestock sector but whole supply chain to decarbonise working with companies like theory working in their partnership with T's, one of Australia's largest beef processes and more worths. So the future is exciting and we really are leading the way. Ben, thank you for your time. Thank you very much.