Atlantic Sapphire

Capital/Financing Update • Dec 19, 2018

DNB and EKF debt facility term sheet commitment extended to February 20th, 2019

DNB and EKF debt facility term sheet commitment extended to February 20th, 2019

Miami, December 18th, 2018

With reference to the stock exchange announcement on October 11th, 2018, Atlantic Sapphire AS announces that it has extended its term sheet commitment with DNB and EKF from December 20th, 2018 to February 20th , 2019. The term sheet covers the financing of the company’s expansion of its facilities and production capacities in Denmark and the United States.

Atlantic Sapphire, DNB and EKF are cooperating closely on completing the due diligence process and satisfactory documentation, with financial closing expected before February 20th, 2019.

For further information, please contact: Atlantic Sapphire AS - Finance Director, Karl Øystein Øyehaug at +1 (786) 774-2446 or 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 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.