Atlantic Sapphire

Related Party Transaction • Jun 3, 2021

Atlantic Sapphire ASA: Notifiable transactions in connection with Private Placement

Atlantic Sapphire ASA: Notifiable transactions in connection with Private Placement

Miami, FL, 3 June 2021

Reference is made to the stock exchange notice on 3 June 2021 regarding the successful completion of a private placement raising gross proceeds of USD 120 million (the "Private Placement") through issuance of new shares (the "Offer Shares") in Atlantic Sapphire ASA (the "Company").

The following primary insiders or close associates of primary insiders have been allocated Offer Shares in the Private Placement:

- ASInvest AS, a close associate of board member André Skarbø has been allocated 50,709 Offer Shares at the offer price of NOK 98.6; and

- Tone Bjørnov, board member, has been allocated 2,000 Offer Shares at the offer price of NOK 98.6.

In order to facilitate for settlement on a delivery versus payment basis of Offer Shares in the Private Placement, a share lending agreement has been entered into between Alsco AS, JEA Invest and Vatne Equity AS (as "Share Lenders") and DNB Markets, a part of DNB Bank ASA (as "Lending Manager"). Pursuant to that agreement, the Share Lenders has agreed to lend 10,300,000 existing shares in the Company to the Lending Manager. 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.