Atlantic Sapphire

Earnings Release • Jan 10, 2025

Atlantic Sapphire ASA: Q4 2024 Trading Update

Atlantic Sapphire ASA: Q4 2024 Trading Update

Miami, FL, January 10, 2025

Atlantic Sapphire ASA (along with its subsidiaries the "Company") has harvested a total volume of approximately 670t HOG in the three months ending December 31, 2024 (Q3 2024: 1,300t) – in addition approx. 150t of small fish was culled to increase future harvest size by adapting the standing biomass to the current feeding capacity. During the same period, the net biomass gain was approximately 1,150t RLW (Q3 2024: 1,520t). Standing biomass at the end of the period was 3,180t RLW (Q3 2024: 2,830t). Total harvest volume for the year 2024 was approximately 4,400t HOG (2023: 1,545t)

During the fourth quarter, biological development progressed favorably with stable water quality and temperatures, low mortalities, and increased harvest weight following the operational measures taken to increase harvest size. Realized average harvest weight in the quarter was 2.37 kg HOG. The Company has adapted its biomass to current feeding volumes and expects further increased average harvest weight in the first quarter of 2025.

The Company will provide more financial details in its 2024 annual report. The 2024 Annual Report for Atlantic Sapphire ASA will be published on Thursday, April 23, 2024, after trading hours.