Atlantic Sapphire

Share Issue/Capital Change • Feb 29, 2024

Atlantic Sapphire ASA: Key Information Relating to a Potential Subsequent Offering

Atlantic Sapphire ASA: Key Information Relating to a Potential Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcement published by Atlantic Sapphire ASA (the "Company") on 29 February 2024 regarding the successful placing of a private placement in the Company raising gross proceeds of NOK 369 million (the "Private Placement"), as well as a potential subsequent offering of up to 45,000,000 new shares at a subscription price per share equal to the subscription price in the Private Placement (the "Subsequent Offering").

Date on which the terms of the Subsequent Offering was announced: 29 February 2024

Last day including right: 29 February 2024

First day excluding right: 1 March 2024

Record date: 4 March 2024

Date of approval: On or about 22 March 2024

Maximum number of new shares: 45,000,000

Subscription price: NOK 1.20

Other information: Completion of the Subsequent Offering is subject to, among other things, completion of the second tranche of the Private Placement, granting by the EGM of a board authorization to increase the Company’s share capital in connection with issuance of shares in a Subsequent Offering, the market price of the Company's shares and approval of an EEA prospectus (the "Prospectus") by the Financial Supervisory Authority of Norway, and publication of such Prospectus.

A further description of the Subsequent Offering and the terms and other circumstances that must be taken into consideration when subscribing for shares will be included in the Prospectus. The Company reserves the right at its sole discretion to not conduct or to cancel the Subsequent Offering.

This information is published in accordance with the requirements of the Continuing Obligations.