Atlantic Sapphire

Capital/Financing Update • Apr 21, 2020

Atlantic Sapphire AS – Execution of $210 million senior secured credit facility

Atlantic Sapphire AS – Execution of $210 million senior secured credit facility

Miami, FL, April 21, 2020

Atlantic Sapphire AS (the “Company”), its subsidiaries and DNB have today fully executed an amended and restated agreement for a US$210 million senior secured credit facility (the “Facility”). This follows the announcement on March 14, 2020 regarding the execution of a committed term sheet with DNB. The Facility refinances the Company’s existing term loan and revolving credit facility with DNB and EKF.

Initial proceeds from the Facility have been disbursed and will be used to complete the construction of the Company’s Homestead Bluehouse®.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire AS;

or Karl Øystein Øyehaug

Finance Director, Atlantic Sapphire AS

investorrelations@atlanticsapphire.com

About Atlantic Sapphire AS

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.