Atlantic Sapphire

Share Issue/Capital Change • Mar 25, 2019

Resolution to Issue Shares - Primary Insider Notification

Resolution to Issue Shares - Primary Insider Notification

Miami, 25 March 2019

Bjørn Myrseth, a board member in Atlantic Sapphire AS (the "Company") has exercised 308,520 options in the Company pursuant to his option agreement from 2015.

On 22 March 2019, the board of directors of the Company thus resolved to carry out a share capital increase of NOK 30,852 through issuance of 308,520 new shares, each with a par value of NOK 0.10 directed towards Myrseth. The new shares are issued by the board pursuant to an authorization granted by the Company`s general meeting on 23 June 2017.

The new shares will be subscribed on or before 4 April and the price to be paid for each share pursuant to the option agreement is NOK 2.70. The new shares are expected to be issued mid-April 2019.

Prior to the exercise of the options, Bjørn Myrseth held 394,162 shares in the company. Following these transactions, Bjørn Myrseth holds a total of 702,682 shares in Atlantic Sapphire AS, corresponding to 1.1% of the outstanding shares and votes.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire AS;

or Karl Øystein Øyehaug

Finance Director, Atlantic Sapphire AS

+1 (786) 431 1404

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 spent over 7 years 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, annually.