Atlantic Sapphire ASA - update on proposals to the EGM

About this update from Atlantic Sapphire Asa

Reference is made to the notice of the extraordinary general meeting inAtlanticSapphire ASA (the "Company") published on 9 September 2025, and to earlierstockexchange notices regarding the contemplated convertible loan with gross cashproceeds of approximately USD 35 million (the "Convertible Loan").Following allocation of subscriptions in the Convertible Loan, the Company'sBoard of Directors proposes that the size of the Convertible Loan is set to atotal of USD 59,246,066. This amount includes capitalizations forcapitalizationof; (i) a previously granted bridge loan and associated fees and interest;(ii)a previously granted convertible loan of USD 20 million and incurred interestthereunder, and (iii) underwriting fee payable in connection with theConvertible Loan.Further, the Board of Directors has resolved to withdraw the proposal forissuance of independent subscription right that was put on the agenda. Theissuance of instruments in the contemplated Long-Term Incentive Plan willinstead be based on Board authorizations. However, the Board of Directors maypropose to a later general meeting to issue independent subscription rights tocover instruments in the Long-Term Incentive Plan.https://newsweb.oslobors.no/message/656377

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