Atlantic Sapphire ASA: Employee Stock Option Exercise - Primary Insider Notification

Miami, FL, July 7th, 2020

This announcement follows the June 25th, 2020 announcement of Mario Palma,
Director of Aquaculture and primary insider in Atlantic Sapphire ASA, exercising
10,000 of his stock options. The Board of Directors, pursuant to authorization
granted by the Company's Annual General Meeting, decided to increase the
Company's share capital by NOK 1,000 by issuing 10,000 new shares, each with a
par value NOK 0,10. 

Following the increase, the Company's share capital is NOK 7,128,610 divided
into 71 286 100 shares.

Mario Palma exercised the 10,000 options in the Company, corresponding to 10,000
shares, at the strike price of NOK 28. Mr. Palma transferred his right to
receive shares resulting from the exercise of options to a third party. All
shares resulting from the option exercise, have been sold on July 7th, 2020. The
payment has been determined based on a selling price of NOK 125,90 per share.
After the transaction, Mr. Palma holds a total of 30,708 options in Atlantic
Sapphire ASA, corresponding to 0.0% of the outstanding shares and votes. 

For further information, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA; 

or Karl Øystein Øyehaug 
Managing Director, Atlantic Sapphire ASA

[e-mail]

About Atlantic Sapphire ASA 

Atlantic Sapphire is pioneering BluehouseR (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire has
been operating its innovation center in Denmark since 2011 with a strong focus
on R&D and innovation to equip the company with technology and procedures that
enables the company to commercially scale up production in end markets close to
the consumer. 

In the US, the company has since 2010 worked to identify and permit the ideal
location for BluehouseR farming in Miami, Florida. The company is close to
completion of its phase 1 build out which is projected to harvest approximately
10,000 tons of salmon annually, beginning in Q3, 2020. The company has also
secured the key US water permits to produce up to 90,000 tons onsite, and has a
targeted harvest volume in 2031 of 220,000 tons.

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