Atlantic Sapphire

Remuneration Information • May 1, 2022

Atlantic Sapphire ASA: Grant of share options to primary insider becomes effective

Atlantic Sapphire ASA: Grant of share options to primary insider becomes effective

Miami, FL, May 1, 2022

Reference is made to the resolution dated 11 May 2021 by the annual general meeting of Atlantic Sapphire ASA (the "Company") whereby the general meeting granted Johan Andreassen, Chairman and primary insider, a total of 1 million share options (the "Share Options"). The Share Options were divided into 5 tranches, with 200,000 Share Options becoming effective annually. On 1 May 2022, 200,000 Share Options, each with a strike price of NOK 200, have become effective.

Each Share Option gives the right to receive one (1) share in the Company against payment of the abovementioned strike price. Each tranche of Share Options shall vest over a period of four (4) years, with 25% of the Share Options in each tranche vesting annually. Each tranche of Share Options shall have a duration of 10 years following the grant date (term), which implies that the Share Options shall expire automatically if they have not been exercised within such term

Please refer to the attached notification form for further details on the grant of the 200,000 Share Options that became effective today.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC;

Karl Øystein Øyehaug

Managing Director, Atlantic Sapphire ASA, and Chief Financing Officer, Atlantic Sapphire USA LLC

investorrelations@atlanticsapphire.com

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering Bluehouse® (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 the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company has identified and obtained the requisite permits to construct its Bluehouse® in the ideal location in Homestead, Florida, just south of Miami. The Company has completed Phase 1 construction, which provides the capacity to harvest approximately 10,000 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons, and has a targeted harvest volume in 2031 of 220,000 tons.