Atlantic Sapphire ASA – Evaluating financing to support continued execution toward EBITDA breakeven

Miami, Florida, February 5, 2026

Atlantic Sapphire ASA (along with its subsidiaries, the “Company”) refers to the stock exchange release dated 31 August 2025 and subsequent disclosures regarding the Company’s operational turnaround, liquidity position and Phase 1 execution plan.

Over the past 18 months, the Company has executed a comprehensive operational and organizational turnaround across production, processing and commercial operations, delivering substantial measurable improvements. Compared with 2024, harvest biomass increased from 4,365 tons HOG to 5,096 tons in 2025, and average harvest weight increased from 1.7 kg to 2.9 kg HOG. Commercial execution improved with superior-grade share increasing from 36% to 81% and average price increasing from $5.1/kg HOG equivalent to $8.3/kg. Biological performance has been stable with robust indicators on mortality, feed conversion ratio and water quality. In parallel, the Company has reduced its cost base and improved operational efficiency across the organization. This is supported by the phased implementation of increased biofiltration and degassing capacity, with meaningful effects to be realized as these measures are progressively brought fully into operation, and a continued focus on operational discipline and execution.

While underlying operational developments are positive, the Company’s cash flow development remains impacted by the timing of operational improvements, working capital requirements and certain deviations in harvest volumes and average harvest weights, including during the fourth quarter of 2025. Certain cost reduction and efficiency initiatives have taken longer than initially assumed to fully materialize, and the Company’s financial development remains sensitive to execution timing and market conditions.

Based on updated cash flow projections, including the timing of operational improvements and working capital requirements, Atlantic Sapphire will require additional capital in the range of USD 15-25 million to support continued execution of the Company’s Phase 1 plan and to ensure sufficient liquidity headroom over the planning horizon, while preserving appropriate financial flexibility.

The Board and management are in discussions with the Company’s largest shareholders regarding potential funding alternatives. The Company remains focused on continued operational improvements, disciplined cash management and execution of its Phase 1 plan.

The Company’s revised business plan targets approximately 7,000 tons harvest volume in 2026, rising toward 7,500–8,500 tons thereafter with further optimization of Phase 1. With Phase 1 delivering strong operational results, Atlantic Sapphire is positioned to complete its turnaround and unlock the next stage of value accretive growth.

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 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.

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 and 5-12.