Atlantic Sapphire

Share Issue/Capital Change • May 2, 2024

Atlantic Sapphire ASA: Key Information Relating to Reverse Share Split Subject to Approval From the Annual General Meeting on 23 May 2024

Atlantic Sapphire ASA: Key Information Relating to Reverse Share Split Subject to Approval From the Annual General Meeting on 23 May 2024

Miami, FL, 2 May 2024

Reference is made to the stock exchange announcement made earlier today by Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company"), regarding, among other things, the Company's Board of Directors proposing that the annual general meeting approves a reverse share split.

Please note the following key information regarding the reverse share split.

Reverse split ratio: 10 old shares give 1 new share

Date on which the corporate action was made public: 2 May 2024

Date of approval: expected 23 May 2024 (annual general meeting)

Last day including right: 29 May 2024

Last day exclusive right: 30 May 2024

Record date: 3 June 2024

Other information:

The reverse share split will entail a change of the ISIN of the Company's shares and a separate stock exchange notice about this will be published later.

For further information, please contact:

Johan E. Andreassen, CEO;

or

Karl Øystein Øyehaug, CFO

investorrelations@atlanticsapphire.com

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

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.