Atlantic Sapphire ASA: Grant of Share Options – Primary Insider Notification

24 Jun 2024 23:54 CEST

Miami, FL, June 24, 2024

Reference is made to existing share option program, as described in the
Remuneration Policy of Atlantic Sapphire ASA (the "Company"), which is available
on www.atlanticsapphire.com. The Board of Directors of the Company has now
granted a total of 2,850,000 share options as part of the existing share option
program.

The share options have been allocated to the following persons:

- Pedro Courard, appointed Chief Executive Officer (to assume the position on or
around 1 August 2024), has been granted 1,400,000 share options, each with a
strike price of NOK 13.50, as previously announced in the stock market
notification on May 14, 2024;
- Gunnar Aasboe-Skinderhaug, Deputy Chief Executive Officer and Chief Financial
Officer, has been granted 1,000,000 share options, each with a strike price of
NOK 13.50; and
- Mario Palma, Chief Operating Officer, has been granted 450,000 share options,
each with a strike price of NOK 13.50.

The strike price of NOK 13.50 constitutes an approx. 50% premium to the last
closing price of the Atlantic Sapphire shares. The granted share options hold an
expiration date of 24 June 2029. Further, all options have a four-year vesting
period (with 25% of the total options vesting each year).

Each option gives the holder the right upon exercise to purchase one new share
in the Company.

Further information with regards to the allocation to primary insiders Gunnar
Aasbo-Skinderhaug and Mario Palma is included in the attached notification
forms.

The Company has 112,108,442 shares outstanding, each with a par value of NOK
1.00.

For further information, please contact:

Gunnar Aasbo-Skinderhaug, Deputy CEO & CFO

investorrelations@atlanticsapphire.com

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation art. 19 and the Norwegian Securities Trading Act section
5-12.

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.

More information:
Access the news on Oslo Bors NewsWeb site

622283_20240624 - Notification Form - Mario Palma - Share options.pdf
622283_20240624 Notification Form - Gunnar Aaboe-Skinderhaug - Share options.pdf