Atlantic Sapphire

Remuneration Information • Jan 24, 2020

ATLANTIC SAPPHIRE AS – LONG TERM INCENTIVE PLAN - GRANT OF STOCK OPTIONS – PRIMARY INSIDER NOTIFICATION

ATLANTIC SAPPHIRE AS – LONG TERM INCENTIVE PLAN - GRANT OF STOCK OPTIONS – PRIMARY INSIDER NOTIFICATION

Miami - January 24, 2020

Atlantic Sapphire AS (the “Company”) announces the rollout of its annual long-term incentive plan, approved by the Company’s Board of Directors on January 21, 2020, to further align the interests of the Company’s management and shareholders.

The Company believes that an equity-linked culture tied to long-term performance increases retention of key employees and drives shareholder value creation.

Under the long-term incentive plan, the Compensation Committee and Board of Directors approved the issuance of 316,672 new stock options to employees as follows: (i) 196,125 options were granted on January 21, 2020 to existing employees with an exercise price of NOK 176, 30% higher than the stock price on the date of grant (NOK 136), and (ii) 120,547 options were granted to existing employees on January 21, 2020 with an exercise price of NOK 136.

Additionally, 138,000 stock options were granted to new employees, including (i) 81,000 options authorized on January 21, 2020 for new employees of the Company, effective on each employee’s start date, and (ii) 57,000 options authorized on December 3, 2019 for new employees of the Company, effective on each employee’s start date. Each case is set forth in greater detail in the attachment.

Each option gives the holder upon exercise the right acquire one new share. All options are issued with an exercise price ‘at the money’ on the date of grant and four-year vesting period (with 25% of the total options vesting each year), exercisable up to five years from the date of grant. The Company has 71,276,100 shares outstanding.

For further information, please contact:

Johan E. Andreassen

Chairman & CEO, 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 well underway with construction 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 a targeted harvest volume in 2031 of 220,000 tons.

This information is subject to the disclosure requirements pursuant to the Continuing Obligations for companies listed on the Merkur Market.