Atlantic Sapphire

Major Shareholding Notification • Jun 14, 2021

Atlantic Sapphire ASA: Primary Insider Notification – Redelivery of Shares

Atlantic Sapphire ASA: Primary Insider Notification – Redelivery of Shares

Miami, FL, June 14, 2021

Reference is made to the stock exchange notice on 4 June 2021 regarding the successful completion of a private placement raising gross proceeds of approximately USD 121 million (the "Private Placement") through issuance of new shares (the "Offer Shares") in Atlantic Sapphire ASA (the "Company"), and the primary insider notification on 4 June 2021 regarding, inter alia, a share lending agreement between Alsco AS, JEA Invest and Vatne Equity AS (as "Share Lenders") and DNB Markets, a part of DNB Bank ASA (as "Lending Manager").

The Lending Manager has now returned all 10,300,000 borrowed shares to the Share Lenders.

Alsco AS is a close associate of chairman Johan E. Andreassen and interim COO Bjørn-Vegard Løvik. JEA Invest AS is a close associate of chairman Johan E. Andreassen. Vatne Equity AS is a close associate of board member Runar Vatne.

Please see the attached forms for further information.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA;

or

Karl Øystein Øyehaug

Chief Financing Officer & Managing Director, Atlantic Sapphire ASA

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 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 since 2010 worked to identify and permit the ideal location for Bluehouse® farming in Miami, Florida. The Company is close to completion of its phase 1 build out which is projected to harvest approximately 10,000 tons of salmon annually and performed its first commercial harvest in the US in September 2020. The Company 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.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.