Atlantic Sapphire

Legal Proceedings Report • Apr 1, 2022

Atlantic Sapphire ASA: Investigation of the Denmark fire concluded

Atlantic Sapphire ASA: Investigation of the Denmark fire concluded

Miami, FL, April 1, 2022

Reference is made to the stock exchange announcement issued on September 15, 2021 regarding the fire incident affecting Atlantic Sapphire’s Denmark facility. Danish police (Midt- og Vestjyllands Politi) today have announced in a short comment available on their webpage www.politi.dk that they have concluded their investigation regarding the incident. The investigation is inconclusive as to the cause of the fire. Furthermore, the police report states that there is no evidence of arson in connection with the incident. No further details are available.

With the investigation now concluded, Atlantic Sapphire ASA will continue to work its future plans for Atlantic Sapphire Denmark.

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 targeted harvest volume in 2031 of 220,000 tons.