Atlantic Sapphire

Share Issue/Capital Change • Jun 24, 2024

Atlantic Sapphire ASA: Grant of Share Options – Primary Insider Notification

Atlantic Sapphire ASA: Grant of Share Options – Primary Insider Notification

Miami, FL, June 24, 2024

Reference is made to existing share option program, as described in the Remuneration Policy of Atlantic Sapphire ASA (the "Company"), which is available on www.atlanticsapphire.com. The Board of Directors of the Company has now granted a total of 2,850,000 share options as part of the existing share option program.

The share options have been allocated to the following persons:

- Pedro Courard, appointed Chief Executive Officer (to assume the position on or around 1 August 2024), has been granted 1,400,000 share options, each with a strike price of NOK 13.50, as previously announced in the stock market notification on May 14, 2024;

- Gunnar Aasboe-Skinderhaug, Deputy Chief Executive Officer and Chief Financial Officer, has been granted 1,000,000 share options, each with a strike price of NOK 13.50; and

- Mario Palma, Chief Operating Officer, has been granted 450,000 share options, each with a strike price of NOK 13.50.

The strike price of NOK 13.50 constitutes an approx. 50% premium to the last closing price of the Atlantic Sapphire shares. The granted share options hold an expiration date of 24 June 2029. Further, all options have a four-year vesting period (with 25% of the total options vesting each year).

Each option gives the holder the right upon exercise to purchase one new share in the Company.

Further information with regards to the allocation to primary insiders Gunnar Aasbo-Skinderhaug and Mario Palma is included in the attached notification forms.

The Company has 112,108,442 shares outstanding, each with a par value of NOK 1.00.

For further information, please contact:

Gunnar Aasbo-Skinderhaug, Deputy CEO & CFO

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 approximately 10,000 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.