Atlantic Sapphire

Share Issue/Capital Change • Sep 1, 2022

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, 1 September 2022

Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on 24 August 2022 regarding the results of a subsequent offering of new shares (the "Subsequent Offering") following the private placement announced on 28 June 2022.

In the Subsequent Offering, the Company allocated and issued 2,156,882 new shares through an increase of the share capital with NOK 215,688.20. The share capital increase pertaining to the Subsequent Offering has now been registered with the Norwegian Register of the Business Enterprises.

The new share capital of the Company is NOK 15,326,640.90 divided by 153,266,409 shares, each with a par value of NOK 0.10.

The shares allocated in the Subsequent Offering will be delivered to the subscribers tomorrow, on 2 September 2022.

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 9,500 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.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.