Atlantic Sapphire

Share Issue/Capital Change • Jan 28, 2021

Atlantic Sapphire ASA: Resolution to issue shares - Employee share option exercise

Atlantic Sapphire ASA: Resolution to issue shares - Employee share option exercise

Miami, FL, January 28, 2021

Pursuant to an employee option agreement from 2017, 50,000 options in the Company have been exercised.

On January 28, 2021, the board of directors of the Company authorized a share capital increase of NOK 5,000 through issuance of 50,000 new shares, par value NOK 0.10. The new shares are issued by the Company pursuant to an authorization granted by the Company’s general meeting on June 20, 2019.

The new shares will be subscribed on or before February 10, 2021 and the price to be paid for each share pursuant to the option agreement is NOK 28. The new shares are expected to be issued mid-February 2021.

For further information, please contact:

Johan E. Andreassen

Chairman, Atlantic Sapphire ASA;

Karl Øystein Øyehaug

Managing Director & Interim CFO, Atlantic Sapphire ASA

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 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 since 2010 worked to identify and permit the ideal location for Bluehouse® 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 and performed its first commercial harvest in the US in September 2020. The Company has 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.