Atlantic Sapphire

Board/Management Information • Nov 4, 2019

Atlantic Sapphire AS: Extraordinary General Meeting - Changes to the Board of Directors

Atlantic Sapphire AS: Extraordinary General Meeting - Changes to the Board of Directors

Miami, November 4th, 2019

Atlantic Sapphire AS announces that Runar Vatne is a candidate to join the Board of Directors. Mr. Vatne controls 4.2% of the outstanding shares in Atlantic Sapphire AS via Vatne Equity AS. The open position on the Board follows the announcement on October 23rd, 2019 of Henrik Krefting’s resignation that resulted from Mr. Krefting’s acceptance of a new employment position preventing him from serving further on the Board. Mr. Krefting served on the Board on behalf of Vatne Equity AS until June 2019, and as an independent director until his resignation.

Mr. Vatne is the principal and owner of Vatne Capital, a family office investing in financial assets and real estate. He has extensive experience from the real estate sector, primarily from Søylen Eiendom, a leading Oslo-based real estate company which he co‐founded in 2004. Mr. Vatne also serves as board member of the listed companies Solon Eiendom ASA and Self Storage Group ASA.

Runar Vatne said “Atlantic Sapphire is an important investment for Vatne Equity AS. I see joining the board as a logical continuation of my role as a long-term shareholder in Atlantic Sapphire. The company is now entering its next expansion phase. I look forward to contributing actively to the continued development of a company that I believe has enormous potential to grow and create significant shareholder value producing delicious, healthy, sustainable seafood.”

Johan E. Andreasen, CEO of Atlantic Sapphire, said “We are pleased that Runar Vatne is willing to join the board. Mr. Vatne is not only one of our largest investors, he also brings extensive experience and relationships in the financing and development of large, successful projects, that will benefit Atlantic Sapphire. This step in joining the board is a strong statement regarding his long-term belief in the company.”

The Board of Directors of Atlantic Sapphire invites all shareholders to an EGM on November 12th, 2019 in Miami, FL, with the sole purpose of voting Mr. Vatne on to the Atlantic Sapphire Board of Directors. The notice with the full agenda is attached both 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 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.