Atlantic Sapphire ASA - Increased Bridge Loan and restructuring update

Miami, Florida, 24 August, 2026

Reference is made to earlier stock exchange notices released by Atlantic
Sapphire ASA ("Atlantic Sapphire" or the "Company") regarding the Company's
financing situation and the ongoing refinancing of the Group, including the USD
10 million bridge loan (divided into two tranches of USD 5 million each)
announced on 28 March 2026 (the "Initial Tranches") and the additional USD 10
million tranche announced on 26 June 2026 (together, the "Bridge Loan").

To improve the Company's current liquidity situation, the Company has agreed
with the lenders under the Bridge Loan to borrow an additional USD 1.5 million
under the Bridge Loan ("Bridge Loan Tranche D"). To meet any further financing
needs in the near to short term, the Company may, within 10 business days of the
initial disbursement under Bridge Loan Tranche D, request an additional USD 1.5
million to be provided under Bridge Loan Tranche D. The lenders may, in their
sole discretion, choose to approve any such increase. Bridge Loan Tranche D is
otherwise governed by materially the same terms and conditions as the Bridge
Loan, except that it is not subject to an origination fee, carries an interest
rate of 20% p.a. (payable in kind) and matures on 30 June 2027.

The lenders under the Bridge Loan have also agreed to extend the maturity date
for all other tranches of the Bridge Loan to 31 October 2026. The Initial
Tranches (including all accrued interest, fees and costs) of the Bridge Loan
have been transferred to Coral HoldCo AS, amounting at the time of transfer to a
total of USD 12,030,833, which was converted into NOK upon receipt on 24 August
2026 at a USD/NOK exchange rate of 9.29. As stated in the offer document and in
previous announcements by the Company, including upon announcement of entering
into the restructuring agreement 23 May 2026, it is contemplated by the
restructuring agreement that the Initial Tranches shall be converted into equity
in the Company at a price per newly issued share of NOK 0.10. An extraordinary
general meeting of the Company to approve the conversion of the Initial Tranches
into equity will be called for in due course.

The Board of Directors of the Company maintains its recommendation to
shareholders to accept the mandatory tender offer put forward by Coral HoldCo AS
on 30 July 2026 for NOK 0.80 per share in the Company. Please see the offer
document and announcements from the Company for further information on the
mandatory tender offer and the on-going restructuring of the Company.

For further information, please contact: 
Gunnar Aasbo-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO 
gunnar@atlanticsapphire.com 
investorrelations@atlanticsapphire.com 

About Atlantic Sapphire ASA 
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire
operated its innovation center in Denmark from 2011 until 2021 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 holds the requisite
permits and patents to construct its Bluehouse® in an ideal location in
Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in
operation, which provides the capacity to harvest up to approximately
7,500-8,500 tons (HOG) of salmon annually. The Company completed its first
commercial harvest in the US in September 2020. Atlantic Sapphire's Phase 2
expansion, will bring total annual production capacity to 25,000 tons and the
Company has a long-term targeted harvest volume of >100,000 tons. 

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12.
This stock exchange release was published by Gunnar Aasbø-Skinderhaug, at the
time and date set out above.
k exchange release was published by Gunnar Aasbø-Skinderhaug\, at the\
time and date set out above.\