Atlantic Sapphire

Share Issue/Capital Change • Jun 10, 2021

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, June 10, 2021

Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on June 4, 2021 regarding completion of a private placement of 10,300,000 new shares (the "Private Placement").

The share capital increase relating to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 1,030,000 through issuance of 10,300,000 new shares, each with a par value of NOK 0.10.

The new share capital is NOK 9,101,335.10 divided by 91,013,551 shares, each with a par value of NOK 0.10.

The shares allocated to the investors in the Private Placement have been settled, on a delivery versus payment basis, by delivery of existing and unencumbered shares in the Company, that are already listed on Oslo Stock Exchange, pursuant to a share lending agreement between certain existing shareholders of the Company, DNB Markets, a part of DNB Bank ASA and the Company. The new shares issued in the Private Placement will consequently be delivered to the share lenders to settle such share lending agreement.

The new shares exceeding 6,705,259 that are issued and delivered to the share lenders as settlement of the share loan will only be converted to the ordinary ISIN of the Company's shares following approval and publication of a listing prospectus. Consequently, a total of 3,594,471 new shares will initially be issued on a separate ISIN awaiting approval and publication of a listing prospectus.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA;

Karl Øystein Øyehaug

Managing Director & Interim CFO, 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 enables 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, beginning in Q3, 2020. The company has also 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.