Atlantic Sapphire

Share Issue/Capital Change • Sep 7, 2021

Atlantic Sapphire ASA: Resolution to issue shares - Employee share option exercise

Atlantic Sapphire ASA: Resolution to issue shares - Employee share option exercise

Miami, FL, September 7, 2021

Pursuant to two employee option agreements from 2017, 35,000 options in the Company have been exercised.

On September 6, 2021, the board of directors of the Company authorized a share capital increase of NOK 3,500 through issuance of 35,000 new shares, each with a par value NOK 0.10. The new shares are issued by the Company pursuant to an authorization granted by the Company’s general meeting on May 12, 2021.

The new shares will be subscribed on or before September 8, 2021 and the price to be paid for each share pursuant to the option agreements is NOK 28. The new shares are expected to be issued mid-September 2021.

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 has secured the key US water permits to produce up to 90,000 tons onsite, and has a targeted harvest volume in 2031 of 220,000 tons.