Atlantic Sapphire ASA First Half 2025 Results: Decisive Turnaround - Phase 1 Validated and Profitability in Sight

About this update from Atlantic Sapphire Asa

Miami, August 31, 2025Highlights from the first half of 2025o H1 2025 revenue nearly doubled to USD 21.5m vs. H1 2024, reflecting anearlydoubling in average prices and harvest weights o Record biological performance with 97% superior share, low mortality,strongerfeeding and steady biomass gain o EBITDA loss narrowed to USD -30.7m from USD -46.6m in H1 2024o Revised business plan improves capital efficiency, lowers risk andacceleratespath to breakeven with first positive EBITDA expected in late 2026o 2025 harvest volume expected at ~5,400 tons HOG, up ~25% vs. 2024o 2026 volume expected at ~7,000 tons with further optimization of Phase1thereafter to reach ~7,500-8,500 tons and $3-5 EBITDA/kgo Phase 1 validation to unlock high-margin, value-accretive Phase 2expansiontargeting EBITDA of $4-6/kg on ~25,000 tonsSubsequent eventso Atlantic Sapphire ASA (the "Company", and together with itsconsolidatedsubsidiaries, the "Group") intends to raise a new Convertible Loan of USD31-35million, which together with certain adjustments to the Company's bank debtfinancing with DNB Bank ASA, is estimated to fund the Company through tobreak-even for Phase 1 of the Group's Homestead Bluehouse.o In connection with the contemplated new Convertible Loan of USD 31-35million,certain large existing shareholders represented on the Board of Directors haveindicated their strong support to underwrite USD 25 million. The Company hasfurther received commitments from certain other existing investors to investapproximately USD 7 million in the Convertible Loan, such that the totalamountof indicative support and pre-commitments totals approximately USD 32 million.Comment from CEO Pedro Courard"The first half of 2025 marked a decisive shift for Atlantic Sapphire.Operations are now stable, biological performance is at record levels, andfinancial results are improving. With harvest weights nearly doubled, superiorshare consistently high, and prices of $12/kg for our premium BluehouseTMproduct, our platform is now demonstrating its full potential.We have finalized a revised business plan requiring only USD 3 million ofadditional capex, with materially lower operating costs. Positive EBITDA isexpected by the end of 2026 and will continue improving thereafter. To supportthis last phase of Phase 1 optimization, we are preparing a flexible financingsolution structured to fully fund Atlantic Sapphir...

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