Atlantic Sapphire

Share Issue/Capital Change • Oct 15, 2018

Grant of Share Options

Grant of Share Options

Miami, FL, 15 October 2018

The Company has a share option scheme that was approved by the Company's annual general meeting in June 2017. Under the share option scheme, each option gives the option holder a right to require issuance of 1 new share. The Board of Directors has now approved issuance of 103,000 share options to certain primary insiders under the share option scheme, as set out below:

- Mario Palma, Director of Aquaculture, has on 11 June 2018 been granted 30,000 share options, each with a strike price of NOK 28 and expiring on 9 July 2022. Kindly note that this item should have been reported in June 2018;

- Ole Christian Norvik, Managing Director of Atlantic Sapphire Denmark A/S has on 11 October 2018 been granted 28,000 share options, each with a strike price of NOK 37 and expiring on 1 August 2023;

- Alex Castro, Group Controller, has on 11 October 2018 been granted 20,000 share options, each with a strike price of NOK 45 and expiring on 27 August 2023;

- Karl Øystein Øyehaug, Finance Director, has on 11 October 2018 been granted 25,000 share options, each with a strike price of NOK 55 and expiring on 1 October 2023

For further information, please contact:

Johan E. Andreassen - Chairman & CEO,

or Karl Ø. Øyehaug - Finance Director

Atlantic Sapphire AS

Telephone: +1 (786) 431-1404

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 will enable approximately 10,000 tons of salmon production annually. The company has also secured the key water permits to produce up to 90,000 tons onsite, annually.