Miami, United States/Stavanger, Norway, November 10, 2021

Skretting and Atlantic Sapphire ASA ("Atlantic Sapphire" or "the Company") are
pleased to announce Skretting's intention to construct a specialized
state-of-the-art feed plant for land-based salmon in Florida to serve Atlantic
Sapphire's US operations with market-leading feeds specialized for Bluehouse
farming. A local feed plant will minimize the carbon footprint of transporting
the feed to the facility, and is expected to cut the Company's logistics cost,
and thereby its cost of production, by approximately USD 0.3/kg HOG.

Skretting intends to build and finance the feed plant, while Atlantic Sapphire
will commit to source the majority of its salmon feed demand from Skretting over
the contract period, which is expected to span ten years. The all-in feed price
will be determined by the actual cost per specific diet and can only be
influenced by factors outside the control of Skretting. The agreement contains
contractual mechanisms to ensure that Atlantic Sapphire always has access to
market leading salmon feeds in terms of both quality and value, while Skretting
continues to exceed industry standards.

Atlantic Sapphire has chosen its partner based on the unparalleled track record
Skretting has demonstrated within R&D. The long-term feed agreement commits both
parties to a close cooperation on R&D and development of Bluehouse feeds of the
future, through both financial commitments and sharing of knowledge from and
between the two organizations. Accessing the right feed quality and diet is
critical for the biological performance of the fish and for the water quality
within the RAS facility. Skretting and Atlantic Sapphire expect continuous
improvements going forward that will result in better fish welfare, higher
product quality, improved sustainability and lower cost of production.

Leadership in aquaculture sustainability is at the center of both Skretting and
Atlantic Sapphire's strategies. In addition to reducing the carbon footprint,
the parties will be working together on implementing novel ingredients in the
feeds. Skretting will support Atlantic Sapphire's ambition of continuously
innovating towards high-quality, cost competitive feeds that meet all the
requirements of the Bluehouse salmon while using zero marine ingredients in the
diet and maintaining high levels of healthy Omega-3s in the finished product.

Feed is Atlantic Sapphire's largest cost component. Due to the specialized
production requirements needed to produce salmon feed, the Company is currently
transporting its salmon feed from Canada, at a considerable cost disadvantage.
Removing the need for feed transportation secures the Company direct savings of
approximately USD 0.3/kg HOG of production cost and cuts the carbon footprint of
the feed significantly.

The construction of the feed plant is subject to Skretting receiving all
necessary permits to build and operate the feed plant after which a final
investment decision will be taken. 

"With the long-term agreement that Skretting and Atlantic Sapphire have
established, we are committed to increasing capacity to facilitate future growth
of the land-based salmon industry in the US," said Therese Log Bergjord,
Skretting CEO. "Atlantic Sapphire has been a leader in the land-based salmon
revolution, and I am extremely confident that we can deliver on our shared
aspirations, and that the Bluehouse technology will continue to thrive. We are
proud to deliver the feed that will ensure fresh and local supply of Atlantic
salmon to the US market." 

Johan E. Andreassen, CEO of Atlantic Sapphire USA LLC, said "Atlantic Sapphire's
business case is centred on technological development and in-market production
of delicious and healthy salmon with significant sustainability benefits
compared to conventional ways of salmon farming. Having our most important
production input locally fits perfectly with this strategy, as it reduces
production cost and GHG emissions significantly, while at the same time
accelerating the technological development of a customized feed for our
Bluehouses that we expect will lead to higher productivity and output. Further,
we see this agreement with the world's leading salmon feed producer as a strong
sign of confidence in our business case and future growth." 


Video Conference Call
Atlantic Sapphire ASA and Skretting invite all interested parties to a video
conference call, during which the key highlights of the agreement will be
presented, followed by a Q&A session. 

The video conference call will take place on Thursday November 11, 2021 at 11:00
am ET / 17:00 CET.  

Please use the following link to access the video conference call:
https://bit.ly/3n3aMHG

or the following call-in details: 


Conference ID: 980 027 835# 


+1 786-598-2978   United States, Miami 

+1 347-630-9328   United States, New York 

+47 21 40 21 39   Norway, Oslo 

+44 20 3794 0298  United Kingdom, London 

+45 32 72 47 39   Denmark, Copenhagen 

+46 8 505 329 62  Sweden, Stockholm 

All participants will be on mute during the presentation. If you would like to
ask a question during the Q&A session, please unmute yourself if using the link
or by pressing "*6" if you are calling in.
 
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 targeted
harvest volume in 2031 of 220,000 tons.

About Skretting
Skretting is the global leader in providing innovative and sustainable
nutritional solutions and services for the aquaculture industry. Skretting has
production facilities in 19 countries on five continents, and manufactures and
delivers high quality feeds from hatching to harvest for more than 60 species.
The total annual production volume of feed is more than 2 million tonnes. The
head office is located in Stavanger, Norway. Skretting is the aquaculture
division of Nutreco, a world leader in animal nutrition. Our purpose is Feeding
the Future.
www.skretting.com