Atlantic Sapphire — AGM Information 2024

Mar 1, 2024

Atlantic Sapphire ASA: Notice of Extraordinary General Meeting

Atlantic Sapphire ASA: Notice of Extraordinary General Meeting

Miami, FL, 1 March 2024

Reference is made to the stock exchange notice by Atlantic Sapphire ASA (the "Company") on 29 February 2024 regarding a successfully placed underwritten private placement of new shares in the Company (the "Private Placement"). Completion of tranche 2 of the Private Placement is subject to approval by an extraordinary general meeting of the Company (the "EGM"). The Company has secured voting undertakings in favour of such share capital increase at the EGM.

The Company's Board of Directors (the "Board") has also proposed, among other things, that the EGM shall grant the Board authorization to increase the share capital in connection with the contemplated subsequent offering, and to resolve the consideration shares to the underwriters.

The Board therefore calls for an extraordinary general meeting to be held digitally on 22 March 2024 at 10:00 CET.

The notice with the full agenda is attached both in Norwegian and English.

For further information, please contact:

Johan E. Andreassen, CEO;

or

Karl Øystein Øyehaug, CFO

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire operated its innovation center in Denmark from 2011 until 2021 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company holds the requisite permits and patents to construct its Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in operation, which provides the capacity to harvest approximately 10,000 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons, and has a long-term targeted harvest volume of 220,000 tons.