Atlantic Sapphire

Major Shareholding Notification • Jan 5, 2023

Notification of large shareholding

Notification of large shareholding

Evermore Global Advisors, LLC ("EGA"), a U.S. SEC-registered investment adviser, is investment adviser to the Evermore Global Value Fund (the “Fund”), an investment company registered under the Investment Company Act of 1940, as well as several institutional separate accounts (the "Fund" and EGA’s institutional separate accounts are collectively referred to as "EGA’s Managed Accounts"). Pursuant to investment management agreements with EGA’s Managed Accounts, EGA has the power to make investment decisions and vote shares on behalf of EGA’s Managed Accounts.

On December 31, 2022, one of EGA’s Managed Accounts terminated its investment management agreement with EGA (the "Termination"). As a consequence of the Termination, the number of shares in Atlantic Sapphire ASA (“Atlantic Sapphire”) held by EGA’s Managed Accounts has been reduced from 8,543,867 shares corresponding to 5.57% of the outstanding shares of Atlantic Sapphire, to 2,151,514 shares corresponding to 1.40% of the outstanding shares of Atlantic Sapphire. Following the Termination, EGA exercises control over voting rights equivalent to 1.40% of the total votes of Atlantic Sapphire.

This disclosure is made pursuant to section 4-4 of the Norwegian Securities Trading Act.