Miami, FL ,May 16, 2024 Reference is made to existing share option program, as described in the Remuneration Policy ofAtlantic Sapphire ASA (the "Company"), which is available on www.atlanticsapphire.com. The Board of Directors of the Company has now granted a total of 3,000,000 toAtlantic Sapphire USA LLC employees, as part of the existing share option program. The options have been distributed by the Board of Directors to a total of 38 key employees. This option award comes in addition to the proposed share option award to Mr.Pedro Courard , as announced on14 May 2024 . All options awarded have a strike price ofNOK 1.15 (a 6.5% premium to the last closing price of theAtlantic Sapphire shares) and an expiration date ofMay 16, 2029 . Further, all options have a four-year vesting period (with 25% of the total options vesting each year). Each option gives the holder the right upon exercise to purchase one new share in the Company. The following primary insiders of the Company has been allocated share options: -Mario Palma , Chief Operating Officer, has been granted 300,000 share options, each with a strike price ofNOK 1.15 ; -Svein Taklo , Chief Development & Infrastructure Officer, has been granted 300,000 share options, each with a strike price ofNOK 1.15 ; and -Valerie Leath , HR Director, has been granted 110,000 share options, each with a strike price ofNOK 1.15 . Further information with regards to the allocation to primary insiders is included in the attached notification forms. The Company has 1,121,084,415 shares outstanding. For further information, please contact:Johan E. Andreassen , CEO; or Karl Øystein Øyehaug, 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. AboutAtlantic Sapphire ASA Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally.Atlantic Sapphire operated its innovation center inDenmark 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 inHomestead, Florida , just south ofMiami . 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 inSeptember 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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