Atlantic Sapphire

Share Issue/Capital Change • Apr 12, 2023

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, 12 April 2023

Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") published on 16 March 2023 regarding the conditional completion of a private placement raising gross proceeds of NOK 595 million (the "Private Placement") through issuance of new shares (the "Offer Shares") in the Company with a subscription price of NOK 5.00 per Offer Share. Reference is furthermore made to 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.

The Private Placement is divided into two tranches, where the first tranche ("Tranche 1") consists of 30,653,281 new shares and the second tranche ("Tranche 2") consists of 88,346,719 new shares.

The share capital increases relating to the Private Placement (both Tranche 1 and Tranche 2) have now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 11,900,000 through the issuance of 119,000,000 new shares, each with a par value of NOK 0.10.

The shares allocated in the Private Placement (both Tranche 1 and Tranche 2) will be settled on a delivery versus payment basis on 13 April 2023.

The shares allocated in Tranche 1 are now tradable. The shares allocated in Tranche 2 will be delivered to investors on a separate ISIN pending approval and publication of a prospectus, currently expected during Mid-April 2023.

The new share capital is NOK 27,226,640.90 divided by 272,266,409 shares, each with a par value of NOK 0.10.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC;

Karl Øystein Øyehaug

Managing Director, Atlantic Sapphire ASA, and Chief Financing Officer, Atlantic Sapphire USA LLC

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire has been operating its innovation center in Denmark since 2011 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 has identified and obtained the requisite permits to construct its Bluehouse® in the ideal location in Homestead, Florida, just south of Miami. The Company has completed Phase 1 construction, 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.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.