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

10 Dec 2024 07:00 CET

Reference is made to the resolution by the general meeting of Atlantic Sapphire
of 17 September 2024 where it was approved to update the share option scheme as
per the proposal of the Board. The Company has annulled the prior option program
and granted a new option program with a total of up to 369,817,828 share options
with a striking price from NOK 0.12 to NOK 0.21 and a vesting period over three
years.

Share options have been allocated to the following primary insiders:

- Pedro Courard, Chief Executive Officer, has been granted 118,416,701 share
options, each with a strike price of NOK 0.12;
- Gunnar Aasbo-Skinderhaug, Deputy Chief Executive Officer and Chief Financial
Officer, has been granted 94,825,084 share options, each with a strike price of
NOK 0.12;
- Mario Palma, Chief Technology Officer, has been granted 42,291,679 share
options, each with a strike price of NOK 0.12;
- Damien Claire, Chief Sales and Marketing Officer, has been granted 28,447,524
share options, each with a strike price of from NOK 0.12 to NOK 0.21;
- Valerie Leath, Head of Human Resources & HSE, has been granted 9,482,508 share
options, each with a strike price of from NOK 0.12 to NOK 0.21; and
- Gonzalo Acevedo, Director of Processing, has been granted 9,482,508 share
options, each with a strike price of from NOK 0.12 to NOK 0.21.

The strike price of minimum NOK 0.12 constitutes a 20% premium to the recent
issuing price of the Atlantic Sapphire shares. The granted share options hold an
expiration date of December 10, 2029. Further, the total option program has a
three-year vesting period with 25% of the total options vesting each year of
which the first 25% have been vested as of December 10, 2024.

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

The Board of Directors in Atlantic Sapphire has proposed a reverse share split
of the Atlantic Sapphire share with a ratio of 200:1 and if approved by the EGM
the option program will be adjusted accordingly, both number of options and
strike price.

Further information with regards to the allocation to primary insiders are
included in the attached notification forms.

The Company has 7,170,808,449 shares outstanding, each with a par value of NOK
0.05.

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 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.

More information:
Access the news on Oslo Bors NewsWeb site

634203_241210 - Notification form - Gunnar Aasbo Skinderhaug.pdf
634203_241210 - Notification form - Damien Claire.pdf
634203_241210 - Notification form - Mario Palma.pdf
634203_241210 - Notification form - Gonzalo Acevedo.pdf
634203_241210 - Notification form - Pedro Courard.pdf
634203_241210 - Notification form - Valerie Leath.pdf