Atlantic Sapphire

Share Issue/Capital Change • Oct 12, 2023

Atlantic Sapphire ASA: Share Capital Increase Registered

Atlantic Sapphire ASA: Share Capital Increase Registered

Miami, FL, 12 October 2023

Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") published on 19 September 2023 regarding the successful placing of a private placement raising gross proceeds of approximately NOK 702 million (the "Private Placement") through issuance of new shares (the "Offer Shares") in the Company with a subscription price of NOK 1.40 per Offer Share.

The Private Placement is divided into two tranches, one tranche consisting of 55,000,000 Offer Shares ("Tranche 1") and one tranche consisting of 446,428,571 Offer Shares ("Tranche 2"). The share capital increase pertaining to Tranche 1 was resolved by the Company's Board of Directors pursuant to a Board authorization, while the share capital increase pertaining to Tranche 2 was approved in the Company's extraordinary general meeting held on 11 October 2023 (the "EGM").

The share capital increase relating to the Tranche 2 has now been registered with the Norwegian Register of Business Enterprises. The share capital has been increased with NOK 44,642,857.10 through the issuance of 446,428,571 new shares, each with a par value of NOK 0.10.

The shares allocated in Tranche 2 will be settled on a delivery versus payment basis on 13 October 2023. The shares allocated in Tranche 2 will be delivered to investors on the separate ISIN NO 001 3048173 pending approval and publication of a prospectus, currently expected during mid-October 2023.

The new share capital is NOK 78,040,158.60 divided by 780,401,586 shares, each with a par value of NOK 0.10.

For further information, please contact:

Johan E. Andreassen

CEO

Karl Øystein Øyehaug

CFO

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 long-term targeted harvest volume of 220,000 tons.

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