Atlantic Sapphire

AGM Information • Apr 16, 2020

Atlantic Sapphire AS: Extraordinary General Meeting Concluded

Atlantic Sapphire AS: Extraordinary General Meeting Concluded

Miami, FL, April 16th, 2020

On April 16th, 2020, Atlantic Sapphire AS held an Extraordinary General Meeting (EGM) in the offices of Atlantic Sapphire AS, Miami, FL, USA.

The conversion of the Company to a public limited liability company was approved, conditional upon the Oslo Stock Exchange's approval of the application for listing on the Oslo Stock Exchange.

Tone Bjørnov and Ellen Marie Sætre were elected as new directors on the Board of Directors, with term until the ordinary general meeting in 2022. Bjørn-Vegard Løvik and Peter Skou shall resign as directors. Peter Skou was elected as deputy director. These changes shall enter into effect at the time of the conversion to a public limited liability company.

Further, the establishment of a nomination committee, changes to the articles of association and an authorization to raise convertible bonds were also approved.

Please find enclosed the minutes from the meeting in Norwegian and English.

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 BluehouseTM (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 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 BluehouseTM 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, annually.