Correction to disclosure of large shareholding and update on upcoming mandatory offer

Atlantic Sapphire ASA

Miami, Florida, 16 July, 2026
Reference is made to earlier stock exchange notices released by Atlantic
Sapphire ASA ("Atlantic Sapphire" or the "Company", and together with its
consolidated subsidiaries, the "Group") regarding the Company's financing
situation and the contemplated restructuring of the Group, including the
mandatory offer from Coral HoldCo AS ("Coral Holding").

In the disclosure of large shareholdings on 26 June 2026, it was announced that
Nokomis Capital Master Fund L.P. ("Nokomis") transferred 4,913,249 shares in the
Company to Coral Holding. The Company has been made aware that this number was
incorrect and that 4,415,353 shares (equalling 12.31% of the share capital and
votes) in the Company were transferred to Coral Holding by Nokomis. Nokomis
holds no further shares in the Company.

Following the transfer of the 4,415,353 Atlantic Sapphire shares to Coral
Holding, Nokomis Capital, LLC in its capacity as fund manager holds 1,300,019
Atlantic Sapphire shares on behalf of Star V Partners, LLC.

Consequently, following completion of the transfers, Coral Holding owns
22,301,236 shares in the Company, corresponding to 62.20% of the shares and
votes in the Company, and the upcoming mandatory offer will be adjusted
accordingly. For the avoidance of doubt, the mandatory offer will comprise the
1,300,019 Atlantic Sapphire shares held by Nokomis Capital, LLC in its capacity
as fund manager on behalf of Star V Partners, LLC.

Coral Holding is a joint investment company established by a group of the
Company's largest shareholders and convertible loan holders for the purposes of
the restructuring, consisting of: (i) Condire Management L.P., (ii) Nordlaks
Holding AS, (iii) Nokomis, (iv) Strawberry Capital AS, and (v) Joh Johannson
Eiendom AS.


This announcement is made in accordance with the Norwegian Securities Trading
Act Section 4-2.

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