Atlantic Sapphire

Major Shareholding Notification • Apr 11, 2023

DISCLOSURE OF LARGE SHAREHOLDING – JOH JOHANNSON EIENDOM AS

DISCLOSURE OF LARGE SHAREHOLDING – JOH JOHANNSON EIENDOM AS

Reference is made to the stock exchange announcement by Atlantic Sapphire ASA (the "Company") on 16 March 2023 regarding, among other things, a private placement of new shares (the "New Shares") in the Company (the "Private Placement"). The Private Placement is divided into two separate tranches, where the first tranche consists of 30,653,281 new shares ("Tranche 1") and the second tranche ("Tranche 2") consists of 88,346,719 new shares.

Joh Johannson Eiendom AS was allocated 10,000,000 New Shares in the Private Placement, split into 2,575,905 shares in Tranche 1 and 7,424,095 shares in Tranche 2. The share capital increases relating to the Private Placement has been approved today, 11 April 2023, by an extraordinary general meeting of the Company.

Following issuance of these new shares, and upon registration of the corresponding share capital increase in the Norwegian Register of Business Enterprises and subsequent delivery of such shares, Joh Johannson Eiendom AS will hold a total of 17,649,929 shares in the Company, representing 6.48 % of the total number of shares and voting rights.

The disclosure obligation was triggered by Joh Johannson Eiendom AS crossing above the 5 % threshold of total number of voting rights and shares in the Company.

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