Atlantic Sapphire ASA – Correction to disclosure of large shareholding and update on upcoming mandatory offer

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.