Atlantic Sapphire ASA: Key Information Relating to a Potential Subsequent Offering

19 Sep 2023 23:28 CEST

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Miami, FL, 19 September 2023

Reference is made to the stock exchange announcement published by Atlantic
Sapphire ASA (the "Company") on 19 September 2023 regarding the successful
placing of a private placement in the Company raising gross proceeds of NOK 702
million (the "Private Placement"), as well as a potential subsequent offering of
up to 100,00,000 new shares at a subscription price per share equal to the
subscription price in the Private Placement (the "Subsequent Offering").

Date on which the terms of the Subsequent Offering was announced: 19 September
2023
Last day including right: 19 September 2023
First day excluding right: 20 September 2023
Record date: 21 September 2023
Date of approval: On or about 11 October 2023
Maximum number of new shares: 100,000,000
Subscription price: NOK 1.40

Other information: Completion of the Subsequent Offering is subject to, among
other things, completion of the second tranche of the Private Placement,
granting by the EGM of a board authorization to increase the Company’s share
capital in connection with issuance of shares in a Subsequent Offering, the
market price of the Company's shares and approval of an EEA prospectus (the
"Prospectus") by the Financial Supervisory Authority of Norway, and publication
of such Prospectus.

A further description of the Subsequent Offering and the terms and other
circumstances that must be taken into consideration when subscribing for shares
will be included in the Prospectus. The Company reserves the right at its sole
discretion to not conduct or to cancel the Subsequent Offering.

This information is published in accordance with the requirements of the
Continuing Obligations.

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