Miami, FL ,4 April 2024 Reference is made to the stock exchange notices byAtlantic Sapphire ASA ("Atlantic Sapphire " or the "Company") on22 March 2024 regarding the resolution made by the extraordinary general meeting (the "EGM") to issue new shares in tranche 2 of an underwritten private placement which has raised gross proceeds of approximatelyNOK 369 million as announced by the Company on29 February 2024 (the "Private Placement"), and the disclosure of large shareholdings regarding, inter alia, the effectuation of the share loans under a share lending agreement between the Company, its shareholdersNordlaks Holding AS ("Nordlaks") and Strawberry Capital AS ("Strawberry"), andDNB Markets , a part ofDNB Bank ASA (the "Lending Manager") (the "Share Lending Agreement"), to facilitate for delivery-versus-payment ("DVP") settlement in tranche 2 of the Private Placement. The new shares issued by the Company in tranche 2 of the Private Placement shall be used for re-delivery of shares under the Share Lending Agreement. Today, following registration of the share capital increase in theNorwegian Register ofBusiness Enterprises pertaining to the EGM's resolution to issue 151,045,000 new shares in tranche 2 of the Private Placement, the Lending Manager will redeliver 90,627,000 new shares to Nordlaks and 60,418,000 shares to Strawberry. Further, under the Share Lending Agreement the Lending Manager shall borrow 5,912,466 existing shares from Nordlaks and 3,941,643 existing shares from Strawberry to facilitate settlement of an underwriting commission comprising of 9,854,109 consideration shares owed to an underwriting consortium (excluding the consideration shares allocated to Nordlaks and Strawberry as underwriters) in accordance with the underwriting agreement entered by and between the Company, the underwriting consortium and the Managers. Following the effectuation of (i) the redelivery of 90,627,000 and 60,418,000 new shares used for DVP settlement of Tranche 2 of the Private Placement to Nordlaks and Strawberry, respectively, (ii) the delivery of 9,854,109 consideration shares to the underwriting consortium, and (iii) the delivery of 3,310,883 and 2,191,251 consideration shares allocated to Nordlaks and Strawberry, respectively, Nordlaks holds 119,934,670 shares, representing approximately 10.84% of the votes and shares in the Company, whereas Strawberry holds 77,156,916 shares, representing approximately 6.97% of the votes and shares in the Company. Nordlaks and Strawberry has thereby exceeded the 10% and 5% thresholds, respectively, pursuant to section 4-2 of theNorwegian Securities Trading Act. Please also see the enclosed forms for further details pursuant to article 19 of the EU Market Abuse Regulation. This information is subject to the disclosure requirements pursuant to sections 4-2 and 5-12 of the Norwegian Securities Trading Act and article 19 of the EU Market Abuse Regulation. 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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