Atlantic Sapphire ASA: Notifiable Transactions in Connection with Private Placement – Tranche 1

Miami, FL, 19 September 2023 Reference is made to the stock exchange notice from Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") published on 19 September regarding the successful placing of a private placement raising gross proceeds of NOK 702 million (the "Private Placement") through issuance of new shares (the "Offer Shares") in the Company with a subscription price of NOK 1.40 per Offer Share (the "Offer Price"). The Private Placement is divided into two tranches, one tranche consisting of 55,000,000 Offer Shares ("Tranche 1") and one tranche consisting of 446,428,571 Offer Shares ("Tranche 2"). The share capital increase pertaining to Tranche 1 has been resolved by the Company's Board of Directors pursuant to a Board authorization, while completion of Tranche 2 is subject to approval of an extraordinary general meeting, expected to be held on or about 11 October 2023 (the "EGM"). The following persons discharging managerial responsibilities and their close associates have been allocated Offer Shares in Tranche 1 at the Offer Price: i) Strawberry Capital AS, a close associate of Chairman Kenneth Jarl Andersen, has been allocated 4,587,000 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 6,421,800. ii) Nordlaks Holding AS, a close associate of Deputy Chairman Eirik Welde, has been allocated 7,615,384 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 10,661,537.60. iii) ASInvest AS, a close associate of Board member André Skarbø, has been allocated 592,256 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 829,158.40. iv) Jon-Birger Løvik (COO) has been allocated 78,348 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 109,687.20; v) Karl Øystein Øyehaug (CFO), has been allocated 16,923 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 23,692.20; vi) Damien Claire (CSMO), has been allocated 25,385 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 35,539; and vii) Svein Taklo (CDIO) has been allocated 16,923 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 23,962.20. Please see attached notification forms for further information. A separate announcement will be made for Offer Shares allocated in Tranche 2 following approval of the share capital increase pertaining to Tranche 2 by the EGM. 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 Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act section 5-12.