Atlantic Sapphire

Share Issue/Capital Change • May 28, 2024

Atlantic Sapphire ASA: Registration of New Share Capital and Reverse Share Split

Atlantic Sapphire ASA: Registration of New Share Capital and Reverse Share Split

Miami, FL, May 28, 2024

Reference is made to Atlantic Sapphire ASA’s ("Atlantic Sapphire" or the "Company") stock exchange announcement on 3 May 2024 with key information relating to the reverse share split in the ratio of 10:1 as resolved by the Company's annual general meeting on 23 May 2024 (the "AGM").

Both the AGM's resolution to issue 5 new shares in the Company to facilitate the reverse share split and the reverse share split itself have now been registered with the Norwegian Register of Business Enterprises (Norwegian: Foretaksregisteret). Following such registration, the Company's share capital is NOK 112,108,442, divided into 112,108,442 shares, each with a par value of NOK 1.00.

For further information, please contact:

Johan E. Andreassen, CEO;

or

Karl Øystein Øyehaug, CFO

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 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.