Atlantic Sapphire ASA: Q1 2025 Trading Update

09 Apr 2025 07:30 CEST

Miami, FL, April 09, 2025

Atlantic Sapphire ASA (along with its subsidiaries the "Company") has harvested
a total volume of approximately 1,319t HOG in the three months ending March 31,
2025 (Q4 2024: 670t) – in addition approx. 154t of small fish was culled,
finalizing the planned culling measures to adapt the standing biomass to the
current feeding capacity. During the quarter, the net biomass gain was
approximately 1,449t RLW (Q4 2024: 1,150t). Standing biomass at the end of the
period was 2,997t RLW (Q4 2024: 3,180t). During the fourth quarter, biological
development progressed favorably with stable water quality and temperatures, low
mortalities, and increased harvest weight following the operational measures
taken to increase harvest size. Realized average harvest weight in the quarter
was 3.1kg HOG (Q4 2024: 2.4kg). The realized sales price for fresh salmon sales
in the quarter was USD 8.3 per kg HOG (Q4 2024: USD 7.9 per kg).

The Integrated Annual and ESG Report for 2024 will be published on Wednesday
April 23, 2025 at approximately 11:00 am ET / 17:00 CET. Atlantic Sapphire ASA
invites investors and analysts to a webcast, during which an Operational Update
will be presented by management, followed by a Q&A session. The webcast will
take place on Wednesday April 23, 2025 at approximately 11:30 am ET / 17:30 CET.


Please use the following link to access the webcast:
https://tinyurl.com/3ab2wamr

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 Aasbo-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. This information is published in accordance with the
requirements of the Continuing Obligations for companies listed on Euronext Oslo
Børs and Section 5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site