Atlantic Sapphire

Share Issue/Capital Change • Jul 21, 2022

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, 21 July 2022

Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on 29 June 2022 regarding the successful placement of 60,060,976 shares (the "Private Placement") and to the stock exchange notice from the Company on 20 July 2022 with the minutes of the extraordinary general meeting held on 20 July 2022. The Private Placement is divided into two tranches, where the first tranche ("Tranche 1") consists of 18,000,000 new shares and the second tranche ("Tranche 2") consists of 42,060,976 new shares. Tranche 2 is further divided into two sub-tranches, consisting of a tranche of 11,013,310 new shares ("Tranche 2A") and a tranche of 31,047,666 new shares ("Tranche 2B").

In the extraordinary general meeting held on 20 July 2022, the share capital increases pertaining to both Tranche 2A and Tranche 2B were approved.

The share capital increase relating to Tranche 2B has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 3,104,766 through issuance of 31,047,666 new shares, each with a par value of NOK 0.10. The shares allocated to investors in Tranche 2B will be settled on a delivery versus payment basis on 22 July 2022, and will be delivered to investors on a separate ISIN pending approval and publication of a prospectus, currently expected in mid-August 2022.

The shares allocated in Tranche 2A will also be settled on a delivery versus payment basis on 22 July 2022 with existing and unencumbered shares in the Company that are already listed on the Oslo Stock Exchange, pursuant to a share lending agreement between DNB Markets, a part of DNB Bank ASA, (on behalf of DNB Markets and Arctic Securities AS, as managers for the Private Placement), the Company, Alsco AS and JEA Invest AS.

The new share capital is NOK 14,009,621.70 divided by 140,096,217 shares, each with a par value of NOK 0.10.

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.