Miami, FL, October 24, 2021

Reference is made to the stock exchange announcement on June 4, 2021 from
Atlantic Sapphire ASA (the "Company") regarding the completion of a NOK 1,016
million private placement (the "Private Placement") through issuance of
10,300,000 new shares (the "New Shares") in the Company. Delivery of the New
Shares to applicants in the Private Placement was settled through a share
lending arrangement entered with certain existing shareholders of the Company
and DNB Markets, a part of DNB Bank ASA. Following this, the New Shares have
been held by the share lenders on a separate ISIN pending approval of a listing
prospectus.

The Financial Supervisory of Norway has on October 22, 2021 approved the
prospectus in relation to the listing of the New Shares. The New Shares will
consequently be transferred to the ordinary ISIN of the Company and become
tradable on Oslo Børs.

The prospectus has been published today and is available at
https://atlanticsapphire.com/investor-relations/. Hard copies of the prospectus
may be obtained by contacting the Company. 

For further information, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC