Atlantic Sapphire

Registration Form • May 4, 2020

Atlantic Sapphire ASA: Conversion to public limited company registered

Atlantic Sapphire ASA: Conversion to public limited company registered

Miami, FL, May 4th, 2020

Reference is made to previous stock exchange announcements regarding the process for listing of the shares of Atlantic Sapphire AS (the "Company") on the Oslo Stock Exchange (the "Listing") and to the approval by the general meeting of the Company on April 16, 2020 to convert the legal form of the Company from a private limited liability company to a public limited liability company.

The conversion of legal form and corresponding change of the Company's name has now been registered in the Norwegian Register of Business Enterprises. The new name of the Company is Atlantic Sapphire ASA.

The shares of the Company will be listed on the Oslo Stock Exchange on May 5, 2020.

Arctic Securities AS and DNB Markets, a part of DNB Bank ASA, are acting as Joint Global Coordinators in connection with the Listing. Advokatfirmaet CLP DA acts as legal counsel to the Company and Advokatfirmaet BAHR AS acts as legal counsel to the Joint Global Coordinators.

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 Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire has been operating its innovation center in Langsand, Denmark since 2011 with a strong focus on R&D and innovation to equip the Company with technology and procedures to enable it to commercially scale up production in end markets closer to consumers.

In the US, the Company identified Homestead, Florida as the ideal location for its Bluehouse® farming in Miami, Florida. The Company is close to completion of its Phase I 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 annually.