Atlantic Sapphire (ASA) Company Presentation summary

Company highlights and strategic positioning

• Positioned to capture a significant share of the >600,000 tons/year US salmon market, with all permits and licensing secured.

• Six years of salmon production experience and an extensive local retail network.

• Production stabilized since October 2023, with further optimization and scaling planned.

• Phase 2 investment decision in final preparations, aiming to unlock economies of scale and improve EBITDA.

• New management team with over 50 years of combined salmon farming experience, focused on value creation and operational excellence.

Operational performance and improvements

• Stable operational performance since 2023 infrastructure upgrades, with low mortality and stable water temperatures.

• New protocols and rental chillers have led to improved fish growth and reduced adverse events.

• Bottlenecks in water treatment and feeding capacity identified; de-bottlenecking initiatives underway.

• Capex plan of ~$25m for Phase 1 optimization and ~$11m for a new well to support Phase 2.

• Feeding capacity expected to increase from 23t to 33t per day, enabling higher harvest volumes.

Management and governance

• CEO Pedro Courard, CFO Gunnar Aasbo-Skinderhaug, and COO Mario Palma bring deep industry expertise.

• Board members have extensive backgrounds in aquaculture, seafood, and related industries.

• Management and board combine experience from major global seafood companies.