Atlantic Sapphire ASA: Q2 2024 Trading Update and Invitation to Presentation of H1 2024 Financial Statements and Operational Update

11 Jul 2024 08:00 CEST

Miami, FL, July 11, 2024

Atlantic Sapphire ASA (along with its subsidiaries the “Company”) has harvested
a total volume of approximately 1,245t HOG in the three months ending June 30,
2024 (Q1 2024: 1,150t). During the same period, the net biomass gain was
approximately 1,550t RLW (Q1 2024: 1,200t). Standing biomass at the end of the
period was 2,930t RLW (Q1 2024: 2,870t).

In the second quarter, biological development progressed favorably with stable
water quality and temperatures. Realized average harvest weight in the quarter
was 1.55 kg HOG with a price achievement in the range of last quarter. Average
harvest weight and realized price was affected by having too many fish in the
tanks with the current feeding capacity. A number of mitigating actions have
been initiated.

The Company will provide more financial details in its first half 2024 report.
The first half 2024 Operational Update for Atlantic Sapphire ASA (the
“Operational Update”) will be published on Tuesday, August 20, 2024, at
approximately 10:30 am ET / 16:30 CET.

Atlantic Sapphire ASA invites investors and analysts to a webcast, where
management will present the Operational Update, followed by a Q&A session. The
webcast will take place on Tuesday, August 20, 2024, at 11:00 am ET / 17:00 CET.

Please use the following link to access the webcast:
https://tinyurl.com/mr7m8ufp

All participants will be muted during the webcast. If you would like to ask a
question during the Q&A session, please use the Q&A chat function.

For further information, please contact:

Gunnar Aasbø-Skinderhaug
Deputy CEO / CFO
gunnar@atlanticsapphire.com

investorrelations@atlanticsapphire.com

This information is subject to the disclosure requirements pursuant to 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:
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