Atlantic Sapphire ASA: Registration of New Share Capital and Reverse Share Split

28 May 2024 14:11 CEST

Miami, FL, May 28, 2024

Reference is made to Atlantic Sapphire ASA’s ("Atlantic Sapphire" or the
"Company") stock exchange announcement on 3 May 2024 with key information
relating to the reverse share split in the ratio of 10:1 as resolved by the
Company's annual general meeting on 23 May 2024 (the "AGM").

Both the AGM's resolution to issue 5 new shares in the Company to facilitate the
reverse share split and the reverse share split itself have now been registered
with the Norwegian Register of Business Enterprises (Norwegian:
Foretaksregisteret). Following such registration, the Company's share capital is
NOK 112,108,442, divided into 112,108,442 shares, each with a par value of NOK
1.00.

For further information, please contact:

Johan E. Andreassen, CEO;

or

Karl Øystein Øyehaug, CFO

investorrelations@atlanticsapphire.com

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.

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