Atlantic Sapphire

Share Issue/Capital Change • Sep 13, 2024

Updated key information relating to the preferential rights issue to be carried out by Atlantic Sapphire ASA

Updated key information relating to the preferential rights issue to be carried out by Atlantic Sapphire ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN CANADA,

JAPAN, AUSTRALIA, HONG KONG OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN

WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS

ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN

Reference is made to the stock exchange announcement published by Atlantic Sapphire ASA (the "Company" or "Atlantic Sapphire") on 20 August 2024 regarding the contemplated underwritten rights issue in the Company (the "Rights Issue"), and to the stock exchange notice published on 13 September 2024 regarding, among other things, revised proposals to the extraordinary general meeting. Updated key information relating to the Rights Issue is set out below.

• Date on which the terms and conditions of the Rights Issue were announced: 20 August 2024

• Last day including right: 17 September 2024

• Ex-date: 18 September 2024

• Record Date: 19 September 2024

• Date of approval: 17 September 2024

• Maximum number of new shares: 6,844,800,000

• Subscription price: NOK 0.10

• Ratio preferential rights: 61.0552 subscription per 1 existing share in the Company registered as held as of the Record Date. The aggregate number of subscription rights granted to each shareholder as of the Record Date will be rounded down to the nearest whole subscription right.

• Subscription ratio: 1:1 (1 subscription right will give the right to subscribe 1 new share in the Rights Issue)

• Managers: Arctic Securities AS and DNB Markets, a part of DNB Bank ASA

• Will the rights be listed: Yes

• ISIN for the preferential rights: NO 001 3336222

• Other information: The subscribers in the Rights Issue will receive (free of charge) one warrant for each two shares subscribed in the Rights Issue. Warrants will also be granted to underwriters in the Rights Issue and to lenders in a convertible loan to be raised in conjunction with the Rights Issue, see separate stock exchange notice from the Company dated 20 August 2024. The Company will seek to ensure that the Warrants are admitted to trading on Oslo Børs as soon as possible following completion of the Rights Issue, but there can be no assurance that such admittance to trading will be obtained.

For further information, please contact:

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

Gunnar@atlanticsapphire.com

Investorrelations@atlanticsapphire.com

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.

This information is published in accordance with the requirements of the Continuing Obligations.