Atlantic Sapphire ASA: Disclosure of large shareholding and holdings of warrants

07 Oct 2024 14:07 CEST

Miami, FL, 7 October 2024

Reference is made to the stock exchange announcement on 6 October 2024 from
Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company", and together with
its consolidated subsidiaries, the "Group"), regarding the final results of the
rights issue (the "Rights Issue"), in which the Company shall issue in total
6,417,000,001 new shares (the "Offer Shares"), as further described in the
Company's stock exchange notice dated 6 October 2024. In addition, the Company
will issue 7,486,500,058 warrants to subscribers in the Rights Issue, the
underwriters, and lenders in the convertible loan resolved to be issued by the
Company (the "Warrants").

Nordlaks Holding AS has been allocated 982,649,748 Offer Shares in the Rights
Issue. Following completion of the Rights Issue, Nordlaks Holding AS will hold a
total of 997,166,552 shares in the Company, representing 15.27% of the
outstanding shares and voting rights in the Company, and will thereby exceed the
15% threshold pursuant to section 4-2 of the Norwegian Securities Trading Act.

The information above is subject to the disclosure requirements pursuant to the
Norwegian Securities Trading Act section 4-2 and 5-12.

Further, the Company has been informed that the following investors will, upon
completion of the Rights Issue, have notifiable holdings of Warrants pursuant to
articles of the Company's articles of association:

- Nordlaks Holding AS has been granted a total of 1,293,449,874 Warrants, which
implies that such Warrants represent 9.23% of the Company's share capital as if
all 7,486,500,058 outstanding Warrants issued by the Company are exercised (and
19.81% of the Company's registered share capital excluding any shares issued for
outstanding Warrants);

- Strawberry Capital AS has been granted a total of 560,674,991 Warrants, which
implies that such Warrants represent 4.00% of the Company's share capital as if
all 7,486,500,058 outstanding Warrants issued by the Company are exercised (and
8.59% of the Company's registered share capital excluding any shares issued for
outstanding Warrants); and

- Joh Johannson Eiendom AS has been granted a total of 464,799,849 which implies
that such Warrants represent 3.32% of the Company's share capital as if all
7,486,500,058 outstanding Warrants issued by the Company are exercised (and
7.12% of the Company's registered share capital excluding any shares issued for
outstanding Warrants).

Each of the Warrants give the holder the right to require issuance of new share
the Company at exercise prices between NOK 0.115 to NOK 0.13 (or as subsequently
adjusted), depending on when the Warrants are exercised.

In addition, Condire Management L.P. and Nokomis Capital, LLC will make separate
disclosures on their holdings of shares and Warrants.

For further information, please contact:

Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO
Gunnar@atlanticsapphire.com

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 up to approximately 9,500 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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