Atlantic Sapphire

Earnings Release • Jan 6, 2021

Atlantic Sapphire ASA: Q4 2020 trading and operational updates

Atlantic Sapphire ASA: Q4 2020 trading and operational updates

Miami, FL, January 6, 2021

Atlantic Sapphire ASA (“the Company”) announces its first quarterly trading update for the quarter ending December 31, 2020. The Company will publish a trading update following the completion of every quarter going forward.

Three months ended Dec 31, 2020:

Harvest volume – USA: 166t HOG

Harvest volume – Denmark: 341t HOG

Biomass gain – USA: ~1,500t RLW

Biomass gain – Denmark: ~600t RLW

Atlantic Sapphire reports financials semi-annually but aims to update its stakeholders more frequently. As such, please find attached the Company's January 2021 operational update, which includes additional details regarding operations, construction and price achievement.

Such operational update will be made available on www.atlanticsapphire.com/investor-relations. The Company's 2020 Annual Report will be released on April 15, 2021.

The Company also invites all interested parties to a video conference call, where the operational update will be presented, followed by a Q&A session. The video conference call will take place at 9AM ET / 15:00 CET today, January 6, 2021.

Please use the following link: https://bit.ly/3hN6AYe

or the following call-in details:

Conference ID: 130 974 551#

+1 786-598-2978 United States, Miami

+1 347-630-9328 United States, New York

+47 21 40 21 39 Norway, Oslo

+44 20 3794 0298 United Kingdom, London

+45 32 72 47 39 Denmark, Copenhagen

+46 8 505 329 62 Sweden, Stockholm

+41 43 210 57 10 Switzerland, Zurich

All participants will be on mute during the presentation. If you're calling in and would like to ask a question during the Q&A session, please unmute yourself by pressing “*6".

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 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 has completed 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.