Miami, FL, 2 May 2024

Reference is made to the stock exchange announcement made earlier today by
Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company"), regarding, among
other things, the Company's Board of Directors proposing that the annual general
meeting approves a reverse share split.

Please note the following key information regarding the reverse share split.

Reverse split ratio: 10 old shares give 1 new share

Date on which the corporate action was made public: 2 May 2024

Date of approval: expected 23 May 2024 (annual general meeting)

Last day including right: 29 May 2024

Last day exclusive right: 30 May 2024

Record date: 3 June 2024

Other information:
The reverse share split will entail a change of the ISIN of the Company's shares
and a separate stock exchange notice about this will be published later. 

For further information, please contact: 

Johan E. Andreassen, CEO