Atlantic Sapphire ASA: Notice of Annual General Meeting and Cancellation of Subsequent Repair Offering

Miami, FL, 2 May 2024

The annual general meeting of Atlantic Sapphire ASA ("Atlantic Sapphire" or the
"Company") will be held electronically on 23 May 2024 at 11:00 EST / 17:00 CEST.
The notice with the full agenda is attached both in Norwegian and English, and
contains the following attachments: (1) The Company's board of directors
proposals for resolutions in item 4-15, (2) the shareholders' rights,
participation and proxy and (3) registration and proxy form. Further information
on how to participate electronically in the annual general meeting has been made
available on the Company's website www.atlanticsapphire.com.

Cancellation of subsequent repair offering

Reference is made to the stock exchange announcement made by the Company on 29
February regarding the successfully completed private placement and the
potential subsequent offering of up to 45,000,000 new shares in the Company at a
subscription price of NOK 1.20 per new share (the "Subsequent Offering").

The purpose of the Subsequent Offering was to limit the dilutive effect for
shareholders who did not participate in the private placement. Following the
announcement, the shares have been traded at or below the subscription price in
the Subsequent Offering. The share price traded at NOK 0.91 as of end of the
last trading day on 30 April 2024, which represented a discount of approximately
24% compared to the subscription price in the Subsequent Offering. Accordingly,
shareholders wishing to reduce the dilutive effect of the private placement have
had the opportunity to purchase shares in the Company in the market at or below
the subscription price in the Subsequent Offering. As a result of this, the
Company's Board of Directors has resolved to not proceed with the Subsequent
Offering. 

For further information, please contact: 

Johan E. Andreassen, CEO; 

or 

Karl Øystein Øyehaug, CFO 

[e-mail]

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.

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© Oslo Bors ASA, source Oslo Stock Exchange