Atlantic Sapphire

Share Issue/Capital Change • Jun 30, 2022

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, June 30 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"). 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.

The share capital increase pertaining to Tranche 1 was resolved pursuant to a board authorization granted by the Company's annual general meeting held on 19 May 2022. The share capital increase pertaining to Tranche 2 is subject to approval of an extraordinary general meeting of the Company, to be held on 20 July 2022.

The share capital increase relating to Tranche 1 has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 1,800,000 through issuance of 18,000,000 new shares, each with a par value of NOK 0.10. The shares allocated to investors in Tranche 1 will be settled on a delivery versus payment basis on 1 July 2022, and such shares are consequently now tradable.

The new share capital is NOK 10,904,855.10 divided by 109,048,551 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.