11 October 2023

Reference is made to the stock exchange notice made by Atlantic Sapphire ASA
(the "Company") on 19 September 2023 regarding the completion of a private
placement raising gross proceeds of approximately USD 65 million (the "Private
Placement") through the allocation of 501,428,571 new shares at a price per
share of NOK 1.40. 

Further reference is made to the Company's stock exchange notice today,
regarding the resolution by the Company's extraordinary general meeting (the
"EGM") to, inter alia, issue 446,428,571 shares in relation to the settlement of
Tranche 2 of the Private Placement.

Funds and entities managed by Condire Investors, LLC and its affiliates
("Condire") have been allocated a total of 96,428,571 new shares in connection
with the Private Placement, of which 85,851,649 shares have been allocated as
part of Tranche 2. Following the completion of Tranche 2 of the Private
Placement, Condire owns a total of 97,428,571 shares in the Company,
representing 12.48% of the issued shares and voting rights, and has thereby
exceeded the 10% disclosure threshold. 

This disclosure is made pursuant to section 4-2 and 4-3 of the Norwegian
Securities Trading Act.