Miami, FL, 30 September 2025
Reference is made to the earlier stock exchange announcements from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") regarding the issuance of a convertible loan (the "Convertible Loan"), and to the extraordinary general meeting of the Company held on 30 September 2025 where the raise of the Convertible Loan was approved.
The following primary insiders and close associates of primary insiders have subscribed for participation in the Convertible Loan as set out below:
- Strawberry Capital AS, a close associate of Kenneth Jarl Andersen, the chairman of the board of the Company, will participate in the Convertible Loan with USD 4,088,130;
- Nordlaks Holding AS, a close associate of Eirik Welde, deputy chairman of the board of the Company, will participate in the Convertible Loan with USD 13,466,260
- Condire Management L.P., a close associate of Detlef von Sehrwald, observer of the board of the Company, will participate in the Convertible Loan with USD 31,082,927;
- Pedro Courard, CEO, will participate in the Convertible Loan with USD 57,500;
- Gunnar Aasbø-Skinderhaug, Deputy CEO and CFO, will participate in the Convertible Loan with USD 57,500; and
- Peter DeQuattro, COO, will participate in the Convertible Loan with USD 28,750.
The loan amounts set out above includes capitalizations for capitalization of; (i) a previously granted bridge loan and associated fees and interest; (ii) a previously granted convertible loan of USD 20 million and incurred interest thereunder, and (iii) underwriting fee payable in connection with the Convertible Loan.
Please refer to the attached notification forms for further information.
For further information, please contact:
Gunnar Aasbø-Skinderhaug, Atlantic Sapphire ASA, Deputy CEO/ CFO
Gunnar@atlanticsapphire.com
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 4-2 og 5-12.
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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 is currently developing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons and has a long-term targeted harvest volume of >100,000 tons.