Atlantic Sapphire ASA – Integrated Annual Report for 2025 and update on refinancing process

30 Apr 2026 18:05 CEST

Miami, Florida, April 30, 2026

Please find the audited 2025 Annual Report for Atlantic Sapphire ASA (the
“Company” and together with its consolidated subsidiaries, the "Group")
attached, integrated with the 2025 ESG Report, as approved by the Board of
Directors of the Company today. Further, the 2025 remuneration report will be
made available on the Company’s webpage shortly.

As earlier announced, the Company invites investors and analysts to a webcast on
Monday 4 May at 16:00 CEST (10:00 a.m. EST) to present the results. The webcast
can be accessed via the following link: https://bit.ly/4vUleCu.

The company publishes its annual financial statements also in European Single
Electronic Format (ESEF), available in a zip file as an attachment to this
release.

The consolidated financial statement and the parent company’s financial
statement have been prepared on the assumption of going concern. This assumption
is based on the current market outlook, financial forecasts and the Group’s
planned capital raise during 2026. As the going concern statement is conditional
upon a planned capital raise in 2026, material uncertainty over the Group's
ability to continue operations exists and therefore the report of the Company’s
auditor on the consolidated financial statement and the parent company's
financial statement includes a specification on material uncertainty on
continued operations (financial situation), see also the Norwegian Financial
Supervision Act Section 3-3 (2) and the Norwegian Securities Trading Act Section
5-5 (7).

Subsequent events
– On 27 March 2026, the Company announced that it had entered into a short-term
bridge loan agreement with the Investor Group (as defined below) for an
aggregate amount of up to USD 10 million (the “Bridge Loan”), all of which has
now been disbursed to the Company. Although the Company expects to be able to
secure long-term financing, it should be noted that no binding agreement has
been entered into at this time.

Update on refinancing process:
Reference is made to the stock exchange notices released by Atlantic Sapphire on
February 6, 2026, March 23, 2026 and March 27, 2026 regarding the Company’s
financing situation.

As previously disclosed, the Company’s board and its advisors have been in
discussions with the Company’s largest shareholders and convertible loan holders
(the “Investor Group”) to secure the necessary liquidity and establish a
long-term capital structure for the Company. These discussions are ongoing and
continue to progress positively; however, a binding agreement has not yet been
signed. Other than what is being discussed with the Investor Group, the Company
has not received any proposal from any party for a viable alternative solution
that would resolve the financing requirement in a satisfactory manner.

Atlantic Sapphire will revert with further information in relation to this
process in due course.

For further information, please contact:
Gunnar Aasbø-Skinderhaug, 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 7,500-8,500 tons (HOG) of salmon annually. The
Company completed its first commercial harvest in the US in September 2020.
Atlantic Sapphire’s Phase 2 expansion, will bring total annual production
capacity to 25,000 tons and the Company has a long-term targeted harvest volume
of >100,000 tons.

This information is subject to the disclosure requirements pursuant to the
Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12.
This stock exchange release was published by Gunnar Aasbø-Skinderhaug, at the
time and date set out above.

More information:
Access the news on Oslo Bors NewsWeb site

672150_Atlantic Sapphire ASA - Integrated Annual Report 2025.pdf
672150_AtlanticSapphireASA-2025-12-31-1-en.zip