Atlantic Sapphire

Annual / Quarterly Financial Statement • Jan 14, 2022

Atlantic Sapphire ASA: Amended First Half 2021 Financial Statements

Atlantic Sapphire ASA: Amended First Half 2021 Financial Statements

Miami, FL, January 14, 2022

Reference is made to the stock exchange announcement made by Atlantic Sapphire ASA (the "Company" or “Atlantic Sapphire”) on December 10, 2021, regarding the Company’s intent to amend and restate its First Half 2021 Financial Statements. Further reference is made to the stock exchange announcement on August 26, 2021, regarding the First Half 2021 Report and Operational Update.

Please find attached the amended and restated First Half 2021 Financial Statements. The amendment includes the reclassification of the Company’s $50 million credit facility from a non-current to a current liability as of June 30, 2021. The reclassification is based on IAS 1.74, Presentation of Financial Statements. Further, Atlantic Sapphire has amended its Declaration of Responsibility, its management report and added a note on related party transactions.

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.