Miami, Florida, February 5, 2026

Atlantic Sapphire ASA (along with its subsidiaries, the "Company") refers to the
stock exchange release dated 31 August 2025 and subsequent disclosures regarding
the Company's operational turnaround, liquidity position and Phase 1 execution
plan.

Over the past 18 months, the Company has executed a comprehensive operational
and organizational turnaround across production, processing and commercial
operations, delivering substantial measurable improvements. Compared with 2024,
harvest biomass increased from 4,365 tons HOG to 5,096 tons in 2025, and average
harvest weight increased from 1.7 kg to 2.9 kg HOG. Commercial execution
improved with superior-grade share increasing from 36% to 81% and average price
increasing from $5.1/kg HOG equivalent to $8.3/kg. Biological performance has
been stable with robust indicators on mortality, feed conversion ratio and water
quality. In parallel, the Company has reduced its cost base and improved
operational efficiency across the organization. This is supported by the phased
implementation of increased biofiltration and degassing capacity, with
meaningful effects to be realized as these measures are progressively brought
fully into operation, and a continued focus on operational discipline and
execution.

While underlying operational developments are positive, the Company's cash flow
development remains impacted by the timing of operational improvements, working
capital requirements and certain deviations in harvest volumes and average
harvest weights, including during the fourth quarter of 2025. Certain cost
reduction and efficiency initiatives have taken longer than initially assumed to
fully materialize, and the Company's financial development remains sensitive to
execution timing and market conditions.  

Based on updated cash flow projections, including the timing of operational
improvements and working capital requirements, Atlantic Sapphire will require
additional capital in the range of USD 15-25 million to support continued
execution of the Company's Phase 1 plan and to ensure sufficient liquidity
headroom over the planning horizon, while preserving appropriate financial
flexibility. 

The Board and management are in discussions with the Company's largest
shareholders regarding potential funding alternatives. The Company remains
focused on continued operational improvements, disciplined cash management and
execution of its Phase 1 plan.

The Company's revised business plan targets approximately 7,000 tons harvest
volume in 2026, rising toward 7,500-8,500 tons thereafter with further
optimization of Phase 1. With Phase 1 delivering strong operational results,
Atlantic Sapphire is positioned to complete its turnaround and unlock the next
stage of value accretive growth.


For further information, please contact: 
Gunnar Aasbø-Skinderhaug, 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 is currently developing its Phase 2 expansion, which will
bring total annual production capacity to 25,000 tons and 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 art. 19 and the Norwegian Securities Trading Act section
4-2 and 5-12.