Atlantic Sapphire

Share Issue/Capital Change • Jun 25, 2020

Atlantic Sapphire ASA: Employee Stock Option Exercise – Resolution to Issue Shares

Atlantic Sapphire ASA: Employee Stock Option Exercise – Resolution to Issue Shares

Miami, June 25th, 2020

Mario Palma, Director of Aquaculture and primary insider in Atlantic Sapphire ASA (the "Company") has exercised 10,000 options in the Company pursuant to his option agreement from 2017.

On June 25th, 2020, the board of directors of the Company thus resolved to carry out a share capital increase of NOK 1,000 through issuance of 10,000 new shares, each with a par value of NOK 0.10 directed towards Mario Palma. The new shares are issued by the board pursuant to an authorization granted by the Company`s general meeting on 20 June 2019.

The new shares will be subscribed on or before 9 July 2020 and the price to be paid for each share pursuant to the option agreement is NOK 28. The new shares are expected to be issued mid July 2020.

Following these transactions, Mario Palma holds a total of 10,000 shares and 30,708 options in Atlantic Sapphire ASA, corresponding to 0.0% of the outstanding shares and votes.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA;

or Karl Øystein Øyehaug

Managing Director, Atlantic Sapphire ASA

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering BluehouseR (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 BluehouseR 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.