Miami, FL, 1 September 2022

Reference is made to the stock exchange notice from Atlantic Sapphire ASA
("Atlantic Sapphire" or the "Company") on 24 August 2022 regarding the results
of a subsequent offering of new shares (the "Subsequent Offering") following the
private placement announced on 28 June 2022.

In the Subsequent Offering, the Company allocated and issued 2,156,882 new
shares through an increase of the share capital with NOK 215,688.20. The share
capital increase pertaining to the Subsequent Offering has now been registered
with the Norwegian Register of the Business Enterprises.

The new share capital of the Company is NOK 15,326,640.90 divided by 153,266,409
shares, each with a par value of NOK 0.10.

The shares allocated in the Subsequent Offering will be delivered to the
subscribers tomorrow, on 2 September 2022.

For further information, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC