Atlantic Sapphire

Prospectus • May 13, 2024

Atlantic Sapphire ASA: Approval and Publication of Listing Prospectus

Atlantic Sapphire ASA: Approval and Publication of Listing Prospectus

Miami, FL, 13 May 2024

Reference is made to the stock exchange announcements from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on 29 February 2024 regarding the underwritten private placement of 307,125,000 new shares in the Company (the "New Shares"), and on 8 April 2024 regarding the issuance of 15,356,243 consideration shares ("Consideration Shares") to the underwriters in the private placement.

Delivery of the New Shares and the Consideration Shares have been settled with existing tradable shares through a share lending agreement entered into by the Company and its shareholders Nordlaks Holding AS ("Nordlaks") and Strawberry Capital AS ("Strawberry Capital") as share lenders. The Consideration Shares and 151,045,000 of the New Shares (jointly, the "Listing Shares") issued to Nordlaks and Strawberry to settle the Company's obligation under the share lending agreement have been delivered on a separate ISIN pending publication of an EEA listing prospectus (the "Prospectus") approved by the Norwegian Financial Supervisory Authority (the "NFSA").

The NFSA has today approved the Prospectus, and the Prospectus will be made available at the Company's website www.atlanticsapphire.com. The Listing Shares will consequently be delivered to the ordinary ISIN of the Company and become tradable on the Oslo Stock Exchange.

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.