Miami, FL, May 23, 2023

Reference is made to the stock exchange announcement published earlier today on
the conclusion of the 2023 AGM and the resolution by the shareholders of
Atlantic Sapphire ASA (the "Company") to grant 14,000,000 share options to
primary insider and CEO of Atlantic Sapphire USA LLC, Johan E. Andreassen, and
grant 2,800,000 share options to primary insider and CFO of Atlantic Sapphire
USA LLC, Karl Øystein Øyehaug.

Further information with regards to the allocations is included in the attached
notification forms. The terms of the share option grants, including strike
prices and vesting conditions, are described in the minutes of the 2023 AGM.

Following the grant of the share options and voiding of the 1,000,000 options
that had previously been granted to Mr. Andreassen, he now holds a total of
6,287,442 shares in the Company and 14,111,188 stock options. 

Following the grant of the share options, Mr. Øyehaug holds a total of 29,850
shares and 2,828,860 share options.

For further information, please contact:
Johan E. Andreassen 
Chief Executive Officer, Atlantic Sapphire USA LLC

Karl Øystein Øyehaug 
Chief Financial Officer, Atlantic Sapphire USA LLC

investorrelations@atlanticsapphire.com

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation art. 19 and the Norwegian Securities Trading Act section
5-12.

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 long-term
targeted harvest volume of 220,000 tons.