Atlantic Sapphire

Major Shareholding Notification • Apr 12, 2023

Atlantic Sapphire ASA – Disclosure of Large Shareholding

Atlantic Sapphire ASA – Disclosure of Large Shareholding

(Oslo, Norway, April 12, 2023) Reference is made to the stock exchange notices from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") regarding a private placement of new shares and the decision by the Company's extraordinary general meeting held on 11 April 2023 to approve the share capital increases in connection with the Private Placement.

Vatne Equity AS, a company owned by Runar Vatne, was allocated 5.000.000 new shares in the private placement, and will hold a total of 12.439.024 shares, corresponding to 4.57% of the shares and votes outstanding, after completion of the Private Placement. Lioness AS, a company controlled by Runar Vatne, continues to hold 400.000 shares in the company, corresponding to 0,15% of the shares and votes outstanding, after completion of the Private Placement.

As a result of the Private Placement, and the approval by the Company's extraordinary general meeting of the share capital increases in connection with the Private Placement, the combined shareholding of Vatne Equity AS and Lioness AS, owned and controlled by Runar Vatne, will be 4,72% and has thus been reduced to less than 5% of the Company's outstanding shares and votes.

This information is subject to the disclosure requirements pursuant to Sections 4-2 and 5-12 of the Norwegian Securities Trading Act.