Atlantic Sapphire — Capital/Financing Update 2026

May 23, 2026

Attachment to stock exchange notice:

Long-term financing solution in place – Restructuring agreement entered into

22-May-26

ATLANTIC

SAPPHIRE.

Component	New cash liquidity (USD m)	Debt reduction (USD m)
Investor Group:
Bridge Loan (conversion, incl. 15% origination fee and accrued interest)	10.0	11.6
Private placement – tranche 1	10.0	-
Write-down of Convertible Loan (23% of their current portion of the loan)	-	13.6
Conversion of Convertible Loan (77% of their current portion of the loan)	-	45.5
Other Convertible Loan lenders:
Private placement – tranche 2 (maximum)**	0.8	-
Write-down of Convertible Loan (23% of their current portion of the loan) (maximum)*	-	0.9
Conversion of Convertible Loan (77% of their current portion of the loan) (maximum)*	-	3.0
Other former shareholders:
Private placement – tranche 3 (maximum)**	5.9	-
Total minimum	20.0	70.8
Total maximum	26.0	74.7
Notes:
(i)
* Subject to all lenders under the convertible loan participating in the conversion.
** Subject to respective tranches being fully subscribed by former Convertible Loan holders and eligible shareholders, and subject to maximum allocation in tranches 2 and 3 together of USD 6 million.
(ii) Calculations based on accrued interest to 22 May 2026.
(iii) All information herein must be viewed in conjunction with relevant stock exchange notices from the company and other relevant documentation issued or to be issued by the company.
(iv) Information contained herein may change based on, inter alia, exact timing of certain of the transaction steps.