NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR
ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. 

Miami, FL, 29 February 2024

Contemplated underwritten private placement

Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company", and together with
its consolidated subsidiaries, the "Group") has retained Arctic Securities AS
and DNB Markets, a part of DNB Bank ASA (the "Managers") as Joint Bookrunners in
connection with a contemplated underwritten private placement (the "Private
Placement") to raise gross proceeds of the NOK equivalent of approximately USD
35 million in new shares to be issued by the Company (the "Offer Shares") (the
"Offer Size"). The subscription price per Offer Share will be determined through
an accelerated book-building, but will not be lower than NOK 1.20 per Offer
Share (the "Offer Price") and the final number of Offer Shares to be issued will
be determined (subject to approval by the EGM with respect to the Offer Shares
in Tranche 2, as defined below) by the Company's Board of Directors ("Board") on
the basis of an accelerated book-building process. 

The net proceeds from the Private Placement will be used to support Phase 1 to
proven state and for general corporate purposes, as described in the Q4 2023
Operational Update.

As previously announced, the Company would present its Q4 2023 Operational
Update on February 29, 2024 (the "Operational Update"). The complete Operational
Update is attached to this stock exchange notice and a recorded version of the
presentation is available at the following link: https://vimeo.com/917648520 .

Please note that this recorded version replaces the planned live webcast that
was due to be held at 17:00 CET today.

Underwriting and pre-commitments

The Company has entered into an underwriting agreement (the "UWA") with an
underwriting consortium consisting of certain existing shareholders (jointly,
the "Underwriters") securing gross proceeds from the Private Placement
corresponding to the Offer Size. The Underwriters include, amongst others, the
largest shareholders represented on the Board:

o	Nordlaks Holding AS, one the largest and most profitable family-owned salmon
farming companies in the world (owning 12.32% of the Company), will participate
in the guarantee consortium with the NOK equivalent of USD 7.5 million (equal to
~1.75x their pro-rata) and will subscribe minimum their pro-rata.
o	Strawberry Equities AS (owning 8.15% of the Company) will participate in the
guarantee consortium with the NOK equivalent of USD 5.0 million (equal to ~1.75x
their pro-rata) and will subscribe minimum their pro-rata.
o	Blue Future Holding AS ("Blue Future"), owned by EW Group, a leading global
provider of animal genetics, nutrition and health products (owning 3.75% of the
Company), will participate in the guarantee consortium with the NOK equivalent
of USD 2.3 million (equal to ~1.75x their pro-rata) and will  subscribe minimum
their pro-rata.

Further, the following primary insiders and employees have pre-committed to
subscribe for Offer Shares in the Private Placement:

-	André Skarbø, board member, will subscribe for 1.2x his pro-rata