Atlantic Sapphire

Regulatory Filings • Nov 28, 2018

Investor Update November 28 th, 2018

First commercial batch of salmon eggs introduced in the Miami BluehouseTM

Atlantic Sapphire AS announces that it has on November 28, 2018 introduced 400,000 eggs into its BluehouseTM hatchery operation in Miami, Florida. An additional 400,000 eggs are scheduled for next week. These batches are the first commercial scale volumes of salmon eggs ever introduced in the state of Florida.

The introduction of 800,000 eggs in the newly constructed, Miami-based BluehouseTM hatchery marks an important milestone for the company and for the most environmentally sustainable salmon production method to serve the growing US market. Atlantic Sapphire remains on track to deliver its first harvest of 9,500 tons (HOG) annualized production from the US facility in mid-2020.

Pioneering Land-Raised Salmon Farming, Locally. Transforming Protein Production, Globally.

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 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.

Johan Andreassen Jose Prado CEO CFO

For queries, please contact: Atlantic Sapphire AS - Finance Director, Karl Ø. Øyehaug at +1 (786) 774-2446

Important notice

The above includes and is based, inter alia, on forward-looking information and contains statements regarding the future in connection with the Company's growth initiatives, profit figures, outlook, strategies and objectives. All forward-looking information and statements in this presentation are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for the Company and its lines of business. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions. Important factors may lead to actual profits, results and developments deviating substantially from what has been expressed or implied in such statements. Although the Company believes that its expectations and the information herein are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the presentation. The Company is making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the presentation, and neither the Company nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use. This document is dated November 27, 2018. Information contained herein will not be updated.

Pioneering Land-Raised Salmon Farming, Locally. Transforming Protein Production, Globally.