Atlantic Sapphire

Major Shareholding Notification • Jun 28, 2022

Disclosure of Large Shareholding – Alsco AS

Disclosure of Large Shareholding – Alsco AS

Miami, FL, 28 June 2022

Reference is made to the stock exchange announcement by Atlantic Sapphire ASA (the "Company") on 28 June 2022 regarding a private placement of new shares (the "Private Placement"). In the Private Placement, the Company will issue a total of 60,060,976 new shares divided into two tranches. In the first tranche, the Company is issuing 18,000,000 new shares pursuant to a board authorization and in the second tranche, the Company will issue a total of 42,060,976 new shares. The shares to be issued in the second tranche will be subject to approval by an extraordinary general meeting in the Company, to be held on or about 20 July 2020.

Alsco AS applied for and was allocated 487,804 shares in the Private Placement at a price per share of NOK 20.50. After the issuance of the new shares in the Private Placement (including the second tranche), the shareholding of Alsco AS and associated companies will be reduced to less than 10% of the Company's share capital.

Following the Private Placement, Alsco AS and associated companies will hold 11,501,114 shares in the Company, corresponding to 7.61% of the shares and votes outstanding after completion of the Private Placement.

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