Atlantic Sapphire

Share Issue/Capital Change • Oct 18, 2024

Atlantic Sapphire ASA: Mandatory notification of trades

Atlantic Sapphire ASA: Mandatory notification of trades

Miami, FL, 18 October 2024

Reference is made to the stock exchange announcement on 16 October 2024 from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company", and together with its consolidated subsidiaries, the "Group"), regarding the resolution of the Company's Board of Directors to increase the share capital with NOK 32,085,000.30 through issuance of 641,700,006 new shares (the "Fee Shares") to the underwriters of the rights issue carried out by the Company to raise gross proceeds of up to the NOK-equivalent of USD 64 million.

Following the decision of the Board of Directors to increase the share capital, the following close associates of primary insiders have subscribed for Fee Shares:

- Strawberry Capital AS, a close associate of Chairman Kenneth Andersen, has subscribed for 53,475,000 Fee Shares, for a total subscription amount of NOK 5,347,500.00;

- Nordlaks Holding AS, a close associate of Deputy Chairman Eirik Welde, has subscribed for 160,425,000 Fee Shares, for a total subscription amount of NOK 16,042,500.00; and

- Condire Management L.P., a close associate of Board observer Ryan Schedler, has subscribed for 160,425,000 Fee Shares, for a total subscription amount of NOK 16,042,500.00.

All share deposits for Fee Shares have been settled by conversion of the claims for underwriting commission held by the underwriters.

Please refer to the attached notification forms for further information.

For further information, please contact:

Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO

Gunnar@atlanticsapphire.com

Investorrelations@atlanticsapphire.com

This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation art. 19 and the Norwegian Securities Trading Act section 5-12.

* * *

About Atlantic Sapphire ASA:

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire operated its innovation center in Denmark from 2011 until 2021 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company holds the requisite permits and patents to construct its Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in operation, which provides the capacity to harvest up to approximately 9,500 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons and has a long-term targeted harvest volume of 220,000 tons.