Atlantic Sapphire

Director's Dealing • Jul 7, 2020

Atlantic Sapphire ASA: Employee Stock Option Exercise – Primary Insider Notification

Atlantic Sapphire ASA: Employee Stock Option Exercise – Primary Insider Notification

Miami, FL, July 7th, 2020

This announcement follows the June 25th, 2020 announcement of Mario Palma, Director of Aquaculture and primary insider in Atlantic Sapphire ASA, exercising 10,000 of his stock options. The Board of Directors, pursuant to authorization granted by the Company's Annual General Meeting, decided to increase the Company's share capital by NOK 1,000 by issuing 10,000 new shares, each with a par value NOK 0,10.

Following the increase, the Company's share capital is NOK 7,128,610 divided into 71 286 100 shares.

Mario Palma exercised the 10,000 options in the Company, corresponding to 10,000 shares, at the strike price of NOK 28. Mr. Palma transferred his right to receive shares resulting from the exercise of options to a third party. All shares resulting from the option exercise, have been sold on July 7th, 2020. The payment has been determined based on a selling price of NOK 125,90 per share. After the transaction, Mr. Palma holds a total of 30,708 options in Atlantic Sapphire ASA, corresponding to 0.0% of the outstanding shares and votes.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA;

or Karl Øystein Øyehaug

Managing Director, Atlantic Sapphire ASA

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering BluehouseR (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire has been operating its innovation center in 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 since 2010 worked to identify and permit the ideal location for BluehouseR farming in Miami, Florida. The company is close to completion 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, and has a targeted harvest volume in 2031 of 220,000 tons.