Atlantic Sapphire ASA – Integrated Annual Report for 2025 and update on refinancing process
Miami, Florida, April 30, 2026
Please find the audited 2025 Annual Report for Atlantic Sapphire ASA (the “Company” and together with its consolidated subsidiaries, the "Group") attached, integrated with the 2025 ESG Report, as approved by the Board of Directors of the Company today. Further, the 2025 remuneration report will be made available on the Company’s webpage shortly.
As earlier announced, the Company invites investors and analysts to a webcast on Monday 4 May at 16:00 CEST (10:00 a.m. EST) to present the results. The webcast can be accessed via the following link: https://bit.ly/4vUleCu.
The company publishes its annual financial statements also in European Single Electronic Format (ESEF), available in a zip file as an attachment to this release.
The consolidated financial statement and the parent company’s financial statement have been prepared on the assumption of going concern. This assumption is based on the current market outlook, financial forecasts and the Group’s planned capital raise during 2026. As the going concern statement is conditional upon a planned capital raise in 2026, material uncertainty over the Group's ability to continue operations exists and therefore the report of the Company’s auditor on the consolidated financial statement and the parent company's financial statement includes a specification on material uncertainty on continued operations (financial situation), see also the Norwegian Financial Supervision Act Section 3-3 (2) and the Norwegian Securities Trading Act Section 5-5 (7).
Subsequent events – On 27 March 2026, the Company announced that it had entered into a short-term bridge loan agreement with the Investor Group (as defined below) for an aggregate amount of up to USD 10 million (the “Bridge Loan”), all of which has now been disbursed to the Company. Although the Company expects to be able to secure long-term financing, it should be noted that no binding agreement has been entered into at this time.
Update on refinancing process: Reference is made to the stock exchange notices released by Atlantic Sapphire on February 6, 2026, March 23, 2026 and March 27, 2026 regarding the Company’s financing situation.
As previously disclosed, the Company’s board and its advisors have been in discussions with the Company’s largest shareholders and convertible loan holders (the “Investor Group”) to secure the necessary liquidity and establish a long-term capital structure for the Company. These discussions are ongoing and continue to progress positively; however, a binding agreement has not yet been signed. Other than what is being discussed with the Investor Group, the Company has not received any proposal from any party for a viable alternative solution that would resolve the financing requirement in a satisfactory manner.
Atlantic Sapphire will revert with further information in relation to this process in due course.
For further information, please contact: Gunnar Aasbø-Skinderhaug, Deputy CEO/ CFO gunnar@atlanticsapphire.com investorrelations@atlanticsapphire.com
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’s Phase 2 expansion, will bring total annual production capacity to 25,000 tons and the Company has a long-term targeted harvest volume of >100,000 tons.
This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation and the Norwegian Securities Trading Act section 5-12. This stock exchange release was published by Gunnar Aasbø-Skinderhaug, at the time and date set out above.