Miami, FL, 4 April 2024

Reference is made to the stock exchange notices by Atlantic Sapphire ASA
("Atlantic Sapphire" or the "Company") on 22 March 2024 regarding the resolution
made by the extraordinary general meeting (the "EGM") to issue new shares in
tranche 2 of an underwritten private placement which has raised gross proceeds
of approximately NOK 369 million as announced by the Company on 29 February 2024
(the "Private Placement"), and the disclosure of large shareholdings regarding,
inter alia, the effectuation of the share loans under a share lending agreement
between the Company, its shareholders Nordlaks Holding AS ("Nordlaks") and
Strawberry Capital AS ("Strawberry"), and DNB Markets, a part of DNB Bank ASA
(the "Lending Manager") (the "Share Lending Agreement"), to facilitate for
delivery-versus-payment ("DVP") settlement in tranche 2 of the Private
Placement. 

The new shares issued by the Company in tranche 2 of the Private Placement shall
be used for re-delivery of shares under the Share Lending Agreement.

Today, following registration of the share capital increase in the Norwegian
Register of Business Enterprises pertaining to the EGM's resolution to issue
151,045,000 new shares in tranche 2 of the Private Placement, the Lending
Manager will redeliver 90,627,000 new shares to Nordlaks and 60,418,000 shares
to Strawberry. Further, under the Share Lending Agreement the Lending Manager
shall borrow 5,912,466 existing shares from Nordlaks and 3,941,643 existing
shares from Strawberry to facilitate settlement of an underwriting commission
comprising of 9,854,109 consideration shares owed to an underwriting consortium
(excluding the consideration shares allocated to Nordlaks and Strawberry as
underwriters) in accordance with the underwriting agreement entered by and
between the Company, the underwriting consortium and the Managers. 

Following the effectuation of (i) the redelivery of 90,627,000 and 60,418,000
new shares used for DVP settlement of Tranche 2 of the Private Placement to
Nordlaks and Strawberry, respectively, (ii) the delivery of 9,854,109
consideration shares to the underwriting consortium, and (iii) the delivery of
3,310,883 and 2,191,251 consideration shares allocated to Nordlaks and
Strawberry, respectively, Nordlaks holds 119,934,670 shares, representing
approximately 10.84% of the votes and shares in the Company, whereas Strawberry
holds 77,156,916 shares, representing approximately 6.97% of the votes and
shares in the Company. Nordlaks and Strawberry has thereby exceeded the 10% and
5% thresholds, respectively, pursuant to section 4-2 of the Norwegian Securities
Trading Act.

Please also see the enclosed forms for further details pursuant to article 19 of
the EU Market Abuse Regulation.

This information is subject to the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act and article 19 of the EU
Market Abuse Regulation.

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 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.