Atlantic Sapphire

Capital/Financing Update • Oct 12, 2018

Atlantic Sapphire AS - Amended term sheet with DNB and EKF to increase Atlantic Sapphire borrowing capacity

Atlantic Sapphire AS - Amended term sheet with DNB and EKF to increase Atlantic Sapphire borrowing capacity

Miami, FL, October 11th 2018

Atlantic Sapphire AS has released a statement on an amended term sheet with key lenders DNB and EKF. Please see the enclosed attachment for details.

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 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.