Atlantic Sapphire ASA: Notifiable Transactions in Connection With Private Placement – Tranche 2

Miami, FL, 11 October 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 approximately 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 was resolved by the Company's Board of Directors pursuant to a Board authorization, while the share capital increase pertaining to Tranche 2 was approved in the Company's extraordinary general meeting held on 11 October 2023 (the "EGM"). The following persons discharging managerial responsibilities and their close associates have been allocated Offer Shares in Tranche 2 at the Offer Price: i) Strawberry Capital AS, a close associate of Chairman Kenneth Jarl Andersen, has been allocated 37,232,142 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 52,124,998.80. ii) Nordlaks Holding AS, a close associate of Deputy Chairman Eirik Welde, has been allocated 61,813,187 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 86,538,461.80. iii) ASInvest AS, a close associate of Board member André Skarbø, has been allocated 4,807,277 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 6,730,187.80. iv) Jon-Birger Løvik (COO) has been allocated 635,937 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 890,311.80; v) Karl Øystein Øyehaug (CFO), has been allocated 137,362 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 192,306.80; vi) Svein Taklo (CDIO) has been allocated 137,362 Offer Shares at the Offer Price, corresponding to a total subscription amount of NOK 192,306.80. Please see attached notification forms for further information. 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.