Atlantic Sapphire

Report Publication Announcement • Dec 2, 2020

Atlantic Sapphire ASA: Notice of quarterly trading update / Status of product offtake

Atlantic Sapphire ASA: Notice of quarterly trading update / Status of product offtake

Miami, FL, December 2, 2020

Q4 2020 trading update: Following completion of the first full quarter with harvest from Atlantic Sapphire ASA’s US operation, the Company will introduce its first quarterly trading update on or about January 6, 2021. The trading update will include preliminary volume figures and other relevant updates. Further, a conference call with a Q&A session will be held at 9am ET / 15:00 CET the same day. Call-in details will be included in the quarterly trading update.

Status of product offtake: Since the first harvest from the US facility in September 2020, Atlantic Sapphire ASA’s US operation has consistently increased weekly harvest volumes and expanded its retail footprint in the US to over 1,000 locations. Please find attached an update on sales and marketing of the US product, "Bluehouse Salmon", and the launch of a new European consumer brand for the Danish product, “Sapphire Salmon”.

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 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.