As part of the restructuring of Norwegian Air Shuttle ASA (“Norwegian” or the “Company”), the Company is in the process of raising up to NOK 6,000 million of new capital through a combination of new capital perpetual bonds offering of up to NOK 1,875 million, a rights issue of up to NOK 395 million (the “Rights Issue”) and the remainder through a private placement (the “Private Placement” and together with the Rights Issue, the “Offering”) (jointly, the “Capital Raise”). DNB Markets and ABG Sundal Collier ASA are acting as Managers in relation to the Offering.

ACCESS TO THIS INFORMATION IS LIMITED TO PERSON RESIDENT AND PHYSICALLY PRESENT IN NORWAY AND TO AUTHORIZED PERSONS WHO ARE RESIDENT AND PHYSICALLY PRESENT IN OTHER JURISDICTIONS OUTSIDE THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, SWITZERLAND OR JAPAN, OR ANY OTHER JURISDICTIONS IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. IMPORTANT ELECTRONIC VERSIONS OF THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBPAGE BY NORWEGIAN AIR SHUTTLE ASA IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY. THIS INFORMATION DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN.

To participate in the Offering, applicants must have a functional VPS account prior to applying for shares. Please see the securities note of the Prospectus for more information.

CEO Jacob Schram interview regarding subscription rights

Below is an overview of indicative key dates in connection to the Offering

Timeline

  • Subscription Period: From 7 May 2021 until 21 May 2021 at 16:30 (CEST)
  • Trading in Subscription Rights in the Rights Issue: From 7 May 2021 until 19 May 2021 at 16:30 (CEST)
  • Information regarding conditional allocation: On or about 25 May 2021
  • Payment Date: 27 May 2021
  • Delivery Date in the Private Placement (DVP): On or about 27 May 2021
  • Delivery Date in the Rights Issue: On or about 28 May 2021
  • First day of trading on the Oslo Stock Exchange: On or about 27 may 2021

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, which any "manufacturer" (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Shares have been subject to a product approval process, which has determined that they each are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II (the "Positive Target Market"); and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Appropriate Channels for Distribution"). Distributors should note that: the price of the Shares may decline and investors could lose all or part of their investment; the Shares offer no guaranteed income and no capital protection; and an investment in the Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. Conversely, an investment in the Shares is not compatible with investors looking for full capital protection or full repayment of the amount invested or having no risk tolerance, or investors requiring a fully guaranteed income or fully predictable return profile (the "Negative Target Market", and, together with the Positive Target Market, the "Target Market Assessment").

The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Public Offering.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the Shares and determining appropriate distribution channels.