Notices to the Oslo Stock Exchange which are issued under the duty of disclosure. Norwegian Air Shuttle ASA issues all notices under the ticker NAS.

2021

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN. NO ONE SHOULD PURCHASE ANY SECURITIES IN NORWEGIAN AIR SHUTTLE ASA (THE "COMPANY") EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY THE COMPANY IN CONNECTION WITH THE OFFERING. COPIES OF THE PROSPECTUS ARE AVAILABLE, SUBJECT TO CERTAIN EXCEPTIONS, THROUGH THE WEBSITE OF THE COMPANY AND THE MANAGERS.

Reference is made to the stock exchange announcement of Norwegian Air Shuttle ASA (the “Company” or “NAS”) dated 7 May 2021 regarding the commencement of the subscription period in the capital raise of up to NOK 6,000 million (the “Capital Raise”), comprising of:

(i) an offering of new capital perpetual bonds raising gross proceeds of up to NOK 1,875 million, (ii) a rights issue raising gross proceeds of up to NOK 395 million, and (iii) a private placement of new shares limited to an amount so that the total gross proceeds from the Capital Raise will not exceed NOK 6,000 million.

The Company has been informed that the managers in the Capital Raise have received orders such that the Capital Raise is oversubscribed.

DNB Markets, a part of DNB Bank ASA, is acting as Sole Global Coordinator and Joint Bookrunner for the Capital Raise and ABG Sundal Collier ASA is acting as Joint Bookrunner. Seabury Securities ltd serves as financial advisor for the Capital Raise. Advokatfirmaet BAHR AS is acting as legal counsel to the Company. Advokatfirmaet Thommessen AS is acting as legal counsel to the managers.

For further information, please contact:

Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332

This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 995 46 400.

IMPORTANT INFORMATION

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

In any EEA Member State, other than Norway, the information and documents on this portion of the website are only addressed to, directed at and the Securities may only be offered to, qualified investors in that Member State within the meaning of Article 2 (e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State .

This announcement is only directed at (a) persons who are outside the United Kingdom; or (b) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any invitation or inducement to engage in investment activity can be communicated in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does not apply.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus, if a prospectus is published. Copies of any such prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the websites of the Managers.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN. NO ONE SHOULD PURCHASE ANY SECURITIES IN NORWEGIAN AIR SHUTTLE ASA (THE "COMPANY") EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY THE COMPANY IN CONNECTION WITH THE OFFERING. COPIES OF THE PROSPECTUS ARE AVAILABLE, SUBJECT TO CERTAIN EXCEPTIONS, THROUGH THE WEBSITE OF THE COMPANY AND THE MANAGERS.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or “NAS”) dated 3 May 2021 regarding the contemplated capital raise of up to NOK 6,000 million (the “Capital Raise”) and 6 May 2021 regarding the approval and publication of the prospectus comprising of a summary, a securities note and a registration document, all dated 6 May 2021, in connection with the Rights Issue and the Private Placement (as defined below) (collectively, the “Prospectus”).

The Capital Raise will comprise of:

(i) an offering of new capital perpetual bonds raising gross proceeds of up to NOK 1,875 million (the “New Capital Perpetual Bonds”), (ii) a rights issue raising gross proceeds of up to NOK 395 million (the “Rights Issue”), and (iii) a private placement of new shares (the “Private Placement”) limited to an amount so that the total gross proceeds from the Capital Raise will not exceed NOK 6,000 million.

Certain cornerstone investors having provided long term support to the restructuring and the Capital Raise in times of significant uncertainty have undertaken to subscribe for and will be allocated shares for a total amount of NOK 2,855 million in the Private Placement. The Company has also received subscriptions from certain Eligible New Capital Perpetual Bonds Creditors for an amount exceeding NOK 1,875 million.

Subscription period: The subscription period for the Rights Issue and the application period for the Private Placement will commence today on 7 May 2021 and expire at 16:30 hours (CEST) on 21 May 2021 (jointly, the “Subscription Period”).

Offer price: The offer price in the Rights Issue and the Private Placement (the “Offer Price”) is set to NOK 6.26 per offer share.

Allocation of subscription rights in the Rights Issue: The shareholders of the Company as of 4 May 2021 (and being registered as such in the Norwegian Central Securities Depository (the "VPS") as at the expiry of 6 May 2021 pursuant to the two days' settlement procedure (the "Record Date")) (the "Existing Shareholders"), have been granted subscription rights (the "Subscription Rights") in the Rights Issue that provide preferential rights to subscribe for, and be allocated, offer shares in the Rights Issue (the “Rights Issue Offer Shares”) at the Offer Price.

Each Existing Shareholder has been granted three (3) Subscription Rights for every two (2) existing shares registered as held by such Existing Shareholder as of the Record Date. Each Subscription Right will, subject to applicable law, give the right to subscribe for, and be allocated, one Rights Issue Offer Share. Over-subscription and subscription without Subscription Rights is permitted.

The grant or purchase of Subscription Rights and the subscription of Rights Issue Offer Shares by persons resident in, or who are citizens of countries other than Norway, may be affected by the laws of the relevant jurisdiction. For a further description of such restrictions, reference is made to Section 6 in the securities note of the Prospectus.

Trading in Subscription Rights: The Subscription Rights will be listed and tradable on the Oslo Stock Exchange from 7 May 2021 to 16:30 hours (CET) on 19 May 2021 under the ticker code "NAST". The Subscription Rights will hence only be tradable during part of the Subscription Period.

Subscription Rights that are not used to subscribe for Rights Issue Offer Shares before the expiry of the Subscription Period or sold before 16:30 (CET) on 19 May 2021 will have no value and will lapse without compensation to the holder.

Prospective investors should note that there is significant uncertainty related to the value of the Subscription Rights. In particular, it should be noted that (i) the Rights Issue is conditional, and that no assurance can be made that the Rights Issue will be completed, (ii) the Private Placement, which is of a significant size, is carried out in parallel with the Rights Issue, which may have an impact on the market for trading in the Subscription Rights, including the Existing Shareholders' ability to sell their Subscription Rights and the price for any such trades.

Further, if the Rights Issue is withdrawn, all Subscription Rights will lapse without value, any subscriptions for, and allocations of, Rights Issue Offer Shares that have been made will be disregarded and any payments for Rights Issue Offer Shares made will be returned to the subscribers without interest or any other compensation. The lapsing of Subscription Rights will be without prejudice to the validity of any trades in Subscription Rights, and investors will not receive any refund or compensation in respect of Subscription Rights purchased in the market. For a further description of the risks related to the Rights Issue and the Private Placement, reference is made to Section 1 of the securities note of the Prospectus.

Subscription procedure for the Rights Issue: In order to subscribe for Rights Issue Offer Shares, investors need to complete the subscription form, and submit it to one of the subscription offices as set out in the Prospectus by 16:30 hours (CET) on 21 May 2021. Subject to regulatory restrictions in certain jurisdictions, the Prospectus and the subscription form for the Rights Issue may be downloaded from: - www.norwegian.com/uk/about/company/investor-relations/capital-raise/ - www.dnb.no/emisjoner - www.abgsc.com

Subscribers who are Norwegian residents with a Norwegian personal identification number who wish to subscribe for Rights Issue Offer Shares are encouraged to do so through the VPS online subscription system (or by following the link on www.norwegian.com/uk/about/company/investor-relations/capital-raise/, www.dnb.no/emisjoner or www.abgsc.com which will redirect the subscriber to the VPS online subscription system).

Financial intermediaries: If an Existing Shareholder holds shares in the Company registered through a financial intermediary on the Record Date, the financial intermediary will customarily give the Existing Shareholder details of the aggregate number of Subscription Rights to which it will be entitled. The relevant financial intermediary will customarily supply each Existing Shareholder with this information in accordance with its usual customer relations procedures. Existing Shareholders holding their shares in the Company through a financial intermediary should contact the financial intermediary if they have received no information with respect to the Rights Issue.

Private Placement The Private Placement will comprise an offering of up to 958,466,453 new shares (the “Private Placement Offer Shares”) at an offer price of NOK 6.26 per Private Placement Offer Share, limited however so that the total gross proceeds from the Capital Raise does not exceed NOK 6,000 million. Assuming that the Rights Issue is fully subscribed at approximately NOK 395 million, and that NOK 1,875 million is raised by issuance of New Capital Perpetual Bonds, the Company accordingly expect to issue up to 595,869,048 new shares in the Private Placement, raising gross proceeds of approximately NOK 3,730 million.

The Private Placement will comprise: (i) an institutional offering (the “Institutional Offering”), in which Private Placement Offer Shares will be offered to (a) institutional and professional investors in Norway, (b) investors outside Norway and the United States, subject to applicable exemptions from any prospectus and registration requirements, and (c) investors in the United States who are QIBs (as defined in Rule 144A under the U.S Securities Act) in transactions exempt from registration requirements under the US Securities Act. The Institutional Offering is subject to a lower limit per application of NOK 2,500,000, and

(ii) an offering directed towards Eligible Private Placement Creditors (as defined in the proposals for a scheme of arrangement for and exit of the examinership process and the reconstruction process as further described in the Company’s stock exchange announcement dated 11 March 2021 (the “Restructuring Proposal”)) of the Company (the “Eligible Private Placement Creditor Offering”) subject to an upper limit per application of 50% of the relevant Eligible Private Placement Creditor’s Relevant Portion (as defined in the Restructuring Proposal) (i.e. maximum NOK 1,250,000 for creditors with a Claim of NOK 2,500,000).

Eligible Private Placement Creditors applying for Private Placement Offer Shares in the Eligible Private Placement Creditor Offering must apply in the same name(s) as registered in the Company’s register of Creditors as at 10 May 2021 (the “Eligible Creditors Record Date”) and using (i) an application form specified for the Eligible Private Placement Creditor Offering (the “Eligible Creditor Offering Application Form”), and (ii) a unique identification code as allocated to each Creditor (the “Application Code”), which will be distributed by the Company on or about 7 May 2021 to each Creditor (to the extent e-mail addresses are available) in order to qualify for allocation of Private Placement Offer Shares in the Eligible Private Placement Creditor Offering. Eligible Creditors that wishes to participate in the Eligible Private Placement Creditor Offering and that have not received an e-mail with their unique Application Code by 10 May 2021, must contact DNB Markets at nascreditor@dnb.no. Only applications in the Eligible Private Placement Creditor Offering that are submitted in accordance with the procedures as set out in the Prospectus, using an Eligible Creditor Offering Application Form and including such Eligible Creditor’s Application Code will be accepted. Applications in the Eligible Creditor Offering that are not submitted in accordance with the procedures as set out in the Prospectus may be discarded without notice to the applicant and without any liability of the Company or the Managers (as defined below).

Further information about the Private Placement, including trading restrictions and the subscription procedure for the Institutional Offering and the Eligible Private Placement Creditor Offering, can be found in section 4 of the securities note of the Prospectus

Listing and commencement of trading in the offer shares: Subject to satisfaction of the conditions for completion of the Rights Issue and the Private Placement, the Company expects that the share capital increase pertaining to the Rights Issue and the Private Placement will be registered with the Norwegian Register of Business Enterprises on or about 26 May 2021 and that the offer shares allocated in the Private Placement and the Rights Issue will be delivered to the VPS accounts of the subscribers to whom they are allocated on or about 27 May 2021 for the Institutional Offering, and on or about 28 May 2021 for the Rights Issue and the Eligible Private Placement Creditor Offering. The offer shares are expected to be tradable on the Oslo Stock Exchange from and including 27 May 2021.

Conditions for completion: Completion of the Capital Raise is subject to the Effective Time (as defined in the Restructuring Proposal), and thereby the effectiveness of the Restructuring Proposal, occurring upon registration of the share capital increase pertaining to the Rights Issue and the Private Placement and the issuance of convertible loans pertaining to the New Capital Perpetual Bonds with the Norwegian Register of Business Enterprises, which is, inter alia, conditional upon the Company raising minimum NOK 4,500 million through the Capital Raise.

In order to provide for prompt registration of the share capital increase in the Company relating to the issuance of the Rights Issue Offer Shares and the Private Placement Offer Shares with the Norwegian Register of Business Enterprises, DNB Markets, a part of DNB Bank ASA is, subject to certain conditions, expected to enter into an agreement with the Company to prefund such shares allocated in the Rights Issue and the Private Placement.

Subject to fulfilment of the terms and conditions for completion of the Capital Raise, the Rights Issue Offer Shares and the Private Placement Offer Shares are expected to be issued on or about 26 May 2021, which accordingly and subject to completion of the Capital Raise will be the effective date of the Restructuring Proposal.

Managers: DNB Markets, a part of DNB Bank ASA, is acting as Sole Global Coordinator and Joint Bookrunner for the Capital Raise and ABG Sundal Collier ASA is acting as Joint Bookrunner (jointly the “Managers”). Seabury Securities ltd serves as financial advisor for the Capital Raise. Advokatfirmaet BAHR AS is acting as legal counsel to the Company. Advokatfirmaet Thommessen AS is acting as legal counsel to the Managers.

For more information, please contact:

Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332

This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 995 46 400.

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

In any EEA Member State, other than Norway, the information is only addressed to, directed at and the securities may only be offered to, qualified investors in that Member State within the meaning of Article 2 (e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State .

This announcement is only directed at (a) persons who are outside the United Kingdom; or (b) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any invitation or inducement to engage in investment activity can be communicated in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does not apply.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus, if a prospectus is published. Copies of any such prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the websites of the Managers.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE OR PURCHASE ANY OF THE SECURITIES DESCRIBED HEREIN. NO ONE SHOULD PURCHASE ANY SECURITIES IN NORWEGIAN AIR SHUTTLE ASA (THE "COMPANY") EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS PUBLISHED BY THE COMPANY IN CONNECTION WITH THE OFFERING.

Reference is made to the stock exchange announcement of Norwegian Air Shuttle ASA (the “Company” or “NAS”) dated 3 May 2021 regarding the terms of the contemplated capital raise of up to NOK 6,000 million (the “Capital Raise”), comprising of:

(i) an offering of new capital perpetual bonds raising gross proceeds of up to NOK 1,875 million,
(ii) a rights issue raising gross proceeds of up to NOK 395 million (the “Rights Issue”), and
(iii) a private placement of new shares (the “Private Placement”) limited to an amount so that the total gross proceeds from the Capital Raise will not exceed NOK 6,000 million.

The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has today approved the Company's prospectus prepared in connection with the Rights Issue and the Private Placement, comprising of a summary, a registration document and a securities note, all dated 6 May 2021 (collectively the "Prospectus").

Subject to applicable local securities laws, the Prospectus and the subscription form for the Rights Issue may be downloaded from: - www.norwegian.com/uk/about/company/investor-relations/capital-raise/ - www.dnb.no/emisjoner - www.abgsc.com

The subscription period for the Rights Issue and the Private Placement will commence tomorrow on 7 May 2021 and expire on 21 May 2021 at 16:30 (CEST). The subscription rights will be listed on the Oslo Stock Exchange under the ticker code “NAST” and will be tradeable from 09:00 hours (CEST) 7 May 2021 to 16:30 hours (CEST) on 19 May 2021.

Eligible Private Placement Creditors intending to participate in the Eligible Private Placement Creditor Offering as further described in the stock exchange notice made by the Company on 3 May 2021, are informed that any applications shall be made in the same name(s) as registered in the Company’s register of Creditors as at 10 May 2021 and using (i) an application form specified for the Eligible Private Placement Creditor Offering, and (ii) a unique identification code as allocated to each Creditor which will be distributed by the Company on or about 7 May 2021 to each Creditor (to the extent e-mail addresses are available) in order to qualify for allocation of Private Placement Offer Shares in the Eligible Private Placement Creditor Offering. Further details on the application procedure in the Private Placement and the Rights Issue are included in the securities note of the Prospectus.

For more information, please contact:

Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332

This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 995 46 400.

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

In any EEA Member State, other than Norway, the information and documents are only addressed to, directed at and the Securities may only be offered to, qualified investors in that Member State within the meaning of Article 2 (e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State .

This announcement is only directed at (a) persons who are outside the United Kingdom; or (b) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any invitation or inducement to engage in investment activity can be communicated in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does not apply.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus, if a prospectus is published. Copies of any such prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the websites of ABG Sundal Collier ASA and DNB Markets, a part of DNB Bank ASA (jointly the "Managers").

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Norwegian’s traffic figures for April are heavily influenced by the travel restrictions and soft demand. The capacity was 7% lower than last year with a load factor of 42.2%. Norwegian operated ten aircraft in April, mainly on domestic routes in Norway.

Compared to the same period last year: - Total capacity (ASK) decreased by 7% - Total passenger traffic (RPK) increased by 115% - The load factor was 42.2%, up 24 p.p. - The total number of passengers flown was 59,431, an increase of 44%

The unit revenue (RASK) is estimated at 0.45 for the period, up by 66%.

The average flying distance for the Group increased by 6% in April compared to the same period last year.

In April, the Group operated 97.7% of its scheduled flights, whereof 97.8% departed on time, 1.8 p.p. lower than last year.

Fornebu, 6 May 2021

Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 99546400.

Traffic figures for April 2021

Issuer name: Norwegian Air Shuttle ASA

Ex. date: 5 May 2021

Type of corporate action: Preferential rights issue

Other information: The rights issue is carried out as part of the wider restructuring of Norwegian Air Shuttle ASA (the "Company"). Please refer to the stock exchange announcement of the Company dated 3 May 2021 regarding the terms of the capital raise in the Company for additional details.

This information is published in accordance with the requirements of the Continuing Obligations.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or “NAS”) dated 26 March 2021 and 12 April 2021 regarding the approval of the proposals for a scheme of arrangement for an exit of the examinership process and the reconstruction process as further described in the stock exchange announcement dated 11 March 2021 (the “Restructuring Proposal”) by the High Court of Ireland and Oslo Byfogdembete respectively.

On 28 April 2021 the United States Bankruptcy Court of the Southern District of New York has granted the recognition motion of Norwegian Air Shuttle ASA and Arctic Aviation Assets DAC pursuant to chapter 15 of the US Bankruptcy Code.

Subject to completion of the Restructuring Proposal and based on the voluntary restructuring in May 2020, the Company has since the end of 2019 reduced total debt by approximately NOK 63 - 65 billion and terminated aircraft orders of approximately NOK 85 billion in aggregated value.

The Company has negotiated and signed agreements for 4 owned and 44 leased aircraft and intends to operate the fleet on a short-haul network primarily in Norway and the Nordics or from Norway/the Nordics to Continental Europe. An additional 3 aircraft are under documentation to be retained and leased. All 51 aircraft will be operated based on “Power by the Hour” agreements through Q1 2022 which significantly increase the Company’s flexibility and limit lease payments in the event of a prolonged period with challenging markets due to the COVID-19 pandemic.

The Company's total liabilities upon completion of the Restructuring Proposal will be approximately NOK 16 - 18 billion, of which NOK 5.8 – 6.3 billion is aircraft related debt. The Company’s cash balance (including restricted cash) upon completion of the Restructuring Proposal is estimated to be approximately NOK 7 billion. These estimates are based on the assumption that the maximum proceeds are raised in the Capital Raise (as defined below).

As part of the Restructuring Proposal the Company contemplates a capital raise of up to NOK 6,000 million (the “Capital Raise”), comprising of:

i) an offering of new capital perpetual bonds raising gross proceeds of up to NOK 1,875 million (the “New Capital Perpetual Bonds Offering”),

ii) a rights issue raising gross proceeds of up to NOK 395 million (the “Rights Issue”), and

iii) a private placement of new shares (the “Private Placement”) limited to an amount so that the total gross proceeds from the Capital Raise will not exceed NOK 6,000 million.

The Board of Directors of the Company has today resolved the terms of the Capital Raise as follows:

The New Capital Perpetual Bonds Offering
The New Capital Perpetual Bonds Offering will raise gross proceeds to the Company of up to NOK 1,875 million and will be directed towards Eligible New Capital Perpetual Bonds Creditors as defined in the Restructuring Proposal.

The Company has received subscriptions from certain Eligible New Capital Perpetual Bonds Creditors for an amount exceeding NOK 1,875 million.

The terms and conditions for the New Capital Perpetual Bonds Offering are included in the Restructuring Proposal and in the announcement made by the Company on 11 March 2021, and will be further detailed in a bond agreement based on the standard Nordic Bond Terms for corporate high yield bonds.

The Rights Issue
As resolved by the extraordinary general meeting of the Company held on 17 December 2020, and on terms further resolved by the Board of Directors of the Company, the Rights Issue will comprise an offering of up to 63,076,638 new shares (the “Rights Issue Offer Shares”) at a subscription price of NOK 6.26 per Rights Issue Offer Share. The Rights Issue will, if it is fully subscribed, raise gross proceeds to the Company of approximately NOK 395 million.

Each existing shareholder will be granted 3 subscription rights for every 2 existing shares registered as held by the shareholder as of the expiry of 4 May 2021 (as registered in the VPS on 6 May 2021 (the “Record Date”)). The number of subscription rights granted to each existing shareholder will be rounded down to the nearest whole subscription right. The first day of trading without the right to receive subscription rights will be 5 May 2021. Each subscription right will, subject to applicable securities laws, give the right to subscribe for and be allocated one Rights Issue Offer Share in the Rights Issue. The Subscription Rights are expected to be listed and tradable on the Oslo Stock Exchange under the ticker code “NAST” from 09:00 hours (CEST) 7 May 2021 to 16:30 hours (CEST) on 19 May 2021. Oversubscription and subscription without Subscription Rights will be permitted; however, there can be no assurance that Rights Issue Shares will be allocated for such subscriptions.

The full terms and conditions for the Rights Issue will be included in a prospectus prepared by the Company which will be published prior to the commencement of the subscription period for the Rights Issue, expected to take place from 7 May 2021 to 21 May 2021 at 16:30 CEST, subject to approval of the prospectus by the Norwegian Financial Supervisory Authority.

The Private Placement
The Private Placement will comprise an offering of up to 958,466,453 new shares (the “Private Placement Offer Shares”) at a subscription price of NOK 6.26 per Private Placement Offer Share. The gross proceeds raised in the Private Placement will be limited to an amount securing that the total gross proceeds from the Capital Raise will not exceed NOK 6,000 million.

The Private Placement will comprise:
(i)an institutional offering (the “Institutional Offering”), in which Private Placement Offer Shares will be offered to (a) institutional and professional investors in Norway, (b) investors outside Norway and the United States, subject to applicable exemptions from any prospectus and registration requirements, and (c) investors in the United States who are QIBs (as defined in Rule 144A under the U.S Securities Act) in transactions exempt from registration requirements under the US Securities Act. The Institutional Offering is subject to a lower limit per application of NOK 2,500,000, and

(ii) an offering directed towards Eligible Private Placement Creditors (as defined in the Restructuring Proposal) of the Company (the “Eligible Private Placement Creditor Offering”) subject to an upper limit per application of 50% of the relevant Eligible Private Placement Creditor’s Relevant Portion (as defined in the Restructuring Proposal) (i.e. maximum NOK 1,250,000 for creditors with a Claim of NOK 2,500,000).

Each Eligible Private Placement Creditor shall be given a preferential allocation in the Private Placement up to the amount of their respective Investment Allowances (as defined in the Restructuring Proposal). Allocations in the Institutional Offering will be made at the sole discretion of the Board of Directors of the Company in consultation with the managers.

Certain cornerstone investors having provided long term support to the restructuring and the Capital Raise in times of significant uncertainty have undertaken to subscribe for and will be allocated shares for a total amount of NOK 2,855 million in the Private Placement.

The cornerstone investors are as follows:
Geveran Trading
Sundt AS
Ludvig Lorentzen and associates
DNB Asset Management
Folketrygdfondet
Nordea Investment Management

The Company will, in consultation with DNB Markets (a part of DNB), as global coordinator, determine the allocation of Shares in the Private Placement. The allocation principles may, in accordance with customary practice for institutional placements, include factors such as perceived investor quality, investment horizon and history, sector knowledge, size and timeliness of the application, contribution to the Restructuring through personal involvement or otherwise, including through employment or other engagement in the Company, each of which the Company may in its discretion consider and the Company will reserve the right to reduce or reject any application for shares in the Private Placement and also to set a maximum allocation per applicant, a maximum number of applicants or decide to make no allocation to any applicant (the "Allocation Principles"), provided that the Allocation Principles shall not be used to reduce or reject any application from an Eligible Private Placement Creditor in respect of its entitlement pursuant to the Restructuring Proposal.

The full terms and conditions for the Private Placement will be included in a prospectus prepared by the Company which will be published prior to the commencement of the subscription period for the Private Placement, expected to take place from 7 May 2021 to 21 May 2021 at 16:30 CEST, subject to approval of the prospectus by the Norwegian Financial Supervisory Authority.

Dividend Claims

Dividend Claim Creditors (as defined in the Restructuring Proposal) will receive a dividend equal to 5% of their relevant unsecured debt which shall be satisfied by i) a cash dividend from a fixed pot of NOK 500 million and ii) conversion of the balance into a Dividend Claim (as defined in the Restructuring Proposal).

Subject to the option of the Dividend Claim Creditors to opt out of the conversion to shares and/or the Structured Sales Process (as defined and determined in the Restructuring Proposal), the Dividend Claims will be converted into up to 233,548,229 shares 60 days after the Effective Time and shall subsequently be sold in the market by the managers by way of a structured sales process, the structure of which shall be determined by the managers in their discretion with the aim to maximizing the average sales price of the conversion shares within a reasonable time period, based on liquidity and other market factors.

Conditions for completion
Completion of the Capital Raise is subject to the Effective Time (as defined in the Restructuring Proposal), and thereby the effectiveness of the Restructuring Proposal, occurring upon registration of the share capital increase pertaining to the Rights Issue and the Private Placement and the issuance of convertible loans pertaining to the New Capital Perpetual Bonds with the Norwegian Register of Business Enterprises, which is, inter alia, conditional upon the Company raising minimum NOK 4,500 million through the Capital Raise.

Subject to fulfilment of the terms and conditions for completion of the Capital Raise, Rights Issue Offer Shares and the Private Placement Offer Shares are expected to be issued on or about 26 May 2021, which accordingly and subject to completion of the Capital Raise will be the effective date of the Restructuring Proposal.

After completion of the Capital Raise, and assuming that it is fully subscribed at the maximum transaction size of NOK 6,000 million and that NOK 1,875 million is raised in the New Capital Perpetual Bonds Offering, the estimated pro-forma ownership of the Company’s share capital on a fully diluted basis will be as follows; i) investors in the Capital Raise will own approximately 75.7%, ii) unsecured creditors will own approximately 20.6% through conversion of Dividend Claims, and ii) existing shareholders will own approximately 3.7%.

The Board has considered the structure of the contemplated offering of new shares in light of the equal treatment obligations under the Norwegian Public Limited Companies Act, the Norwegian Securities Trading Act and the rules on equal treatment under Oslo Rule Book II for companies listed on the Oslo Stock Exchange and the Oslo Stock Exchange's Guidelines on the rule of equal treatment, and is of the opinion that the proposed capital raise is in compliance with these requirements in light of the current situation of the Company and the Restructuring Proposal. The Company considers it to be in the best interest of its shareholders that the Capital Raise is partly structured as a private placement in order to reduce the risk of not being able to satisfy the conditions for effectiveness of the Restructuring Proposal. Accordingly, the existing shareholders preferential rights to subscribe for new shares in the Private Placement will be deviated from. Existing shareholders in the Company as registered in the VPS on the Record Date will however receive subscription rights to participate in the Rights Issue.

DNB Markets, a part of DNB Bank ASA, is acting as Sole Global Coordinator and Joint Bookrunner for the Capital Raise and ABG Sundal Collier ASA is acting as Joint Bookrunner. Seabury Securities ltd serves as financial advisor for the Capital Raise. Advokatfirmaet BAHR AS is acting as legal counsel to the Company. Advokatfirmaet Thommessen AS is acting as legal counsel to the managers.

For more information, please contact:

Geir Karlsen, Chief Financial Officer, phone: +47 916 08 332

This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 995 46 400.

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any member State, the "Prospectus Directive"), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

This announcement is only directed at (a) persons who are outside the United Kingdom; or (b) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (c) persons falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any invitation or inducement to engage in investment activity can be communicated in circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does not apply.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus, if a prospectus is published. Copies of any such prospectus will, following publication, be available from the Company's registered office and, subject to certain exceptions, on the websites of the Managers.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Reference is made to the following bond issues of Norwegian Air Shuttle ASA (the “Company”):

(i) Norwegian Air Shuttle ASA 2019/2024 senior unsecured 6.375% USD convertible bond loan with ISIN NO 0010868284 in the aggregate amount of USD 6,256,000.00 (“USD Convertible Bonds”); and

(ii) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 69,537,880.00 (“USD Perpetual Bonds”).

The USD Convertible Bonds constitute the remaining part of the original USD 150 million convertible bond loan issued in Q4 2019.

The USD Perpetual Bonds is a part of the Company’s subordinated perpetual bond issues as further described in the prospectus dated 5 May 2020 (the “Prospectus”). As set out in the Prospectus, the perpetual bonds have been issued on multiple ISINs reflecting different currencies of issue.

The Company has received conversion notices from bondholders representing (a) USD 46,000.00 of USD Convertible Bonds; and (b) USD 63,134,169.00 of USD Perpetuals Bonds, which pursuant to standard terms set out in the bond terms are convertible into 1,569,069 new shares in the Company.

Following the conversion, the principle amount outstanding amount under the USD Convertible Bonds is USD 6,210,000.00 and the outstanding amount under USD Perpetual Bonds is USD 6,403,711.00.

NAS has perpetual bonds in issue in the nominal amount of approximately NOK 104 million, including amounts issued in other currencies exchanged into NOK at the fixed exchange rate set out in the applicable perpetual bond agreements and excluding certain perpetual bonds held by the Company. The outstanding amount may in the option of the holders be converted into approximately 245 thousand shares in the Company at NOK 424.919, subject to anti-dilution provisions as set out in the Prospectus.

The Company’s share capital is increased by NOK 156,906.90 by issue of 1,569,069 new shares. The increase pertaining to the conversion of the USD Convertible Bonds and USD Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 4,205,247.20 divided into 42,052,472 shares, each with a nominal value of NOK 0.10.

Issuance of the new shares in the VPS is expected to take place today.

Fornebu, 3 May 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 99546400.

Date on which the terms and conditions of the preferential rights issue were announced: 3 May 2021
Last day including right: 4 May 2021
Ex-date: 5 May 2021
Record Date: 6 May 2021
Date of approval: 17 December 2020
Number of new shares: Up to 63,076,638
Subscription price: NOK 6.26
Ratio preferential rights: 3 preferential rights for each 2 shares held
Subscription ratio: One preferential right gives right to subscribe for one new share
Managers: DNB Markets, a part of DNB Bank ASA and ABG Sundal Collier ASA Will the rights be listed – yes/no: Yes International Securities Identification Number (ISIN) for the preferential rights: NO0010989247

Other information: The rights issue is carried out as part of the wider restructuring of Norwegian Air Shuttle ASA (the "Company"). Please refer to the stock exchange announcement of the Company dated 3 May 2021 regarding the terms of the capital raise in the Company for additional details.

This information is published in accordance with the requirements of the Continuing Obligations.

On Friday 30 April 2021, a total of 11,043 shares were purchased on behalf of employees in Norwegian Air Shuttle ASA participating in the company's employee share saving program. The average purchase price was NOK 56.36 per share.

Fornebu, 30 April 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to MAR article 19, number 3, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 99546400.

Norwegian Air Shuttle ASA reports on its consolidated pre-tax results for the three-month period that ended on 31 March 2021.

The company is currently nearing the successful completion of both an examinership process in Ireland and reconstruction process in Norway. A subsequent capital raise is due to close on or about 26th May.
“The impact on our business as a result of international travel restrictions, that have continued throughout this quarter, are as expected. However, during this difficult period Norwegian has continued to reach a number of milestones that will secure our future and ensure that the airline remains a key competitor in the European market. As European vaccination programmes gain momentum and travel restrictions begin to ease, a new Norwegian, with a solid financial foundation, will be ready for our customers as they look to once again take to the skies,” said Jacob Schram, CEO of Norwegian.

“The Q1 results clearly show the continued difficult trading environment that we have been operating in over the last three months. In spite of these challenges, we are now looking to the future with the successful exit of the examinership and reconstruction processes while seeking to raise new capital. Combined, these factors will provide Norwegian with a stable and sustainable financial future,” said Geir Karlsen, CFO of Norwegian

Please find enclosed the result announcement for the three-month period ended on 31 March 2021.

Fornebu 29 April 2021 Norwegian Air Shuttle ASA

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby on behalf of Norwegian Air Shuttle ASA, tel +47 995 46 400.

The board of directors of Norwegian Air Shuttle ASA (the "Company") has today approved the Company's annual accounts for the financial year 2020 and the Company's annual report, including the Group's annual accounts and the board of directors' report, for the financial year 2020 with no material changes from the preliminary Q4 and full-year 2020 report.

“This last year has marked the most challenging period in Norwegian’s history. But significantly it also represented opportunities for us to refocus, to consider our future and the actions that are required to continue serving our loyal customers, shareholders and vendors. Despite great adversity, we have collectively achieved many milestones and I look to the future of Norwegian with optimism and pride,” said Jacob Schram, CEO of Norwegian.

The annual report is also available at the Company's website https://www.norwegian.com/uk/about/company/investor-relations/reports-and-presentations/

Fornebu, 23 April 2021 Norwegian Air Shuttle ASA

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations at Norwegian Air Shuttle ASA, tel +47 995 46 400.

FINANCIAL YEAR 2021 15.07.2021 - Half-yearly Report 26.04.2021 - Annual Report 01.06.2021 - Annual General Meeting 29.04.2021 - Quarterly Report - Q1 28.10.2021 - Quarterly Report - Q3 This information is published pursuant to the requirements set out in the Continuing obligations.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or “NAS”, and together with its subsidiaries, the “Group”) dated 12 April 2021 wherein the judge of the Oslo Byfogdembete approved the Scheme for an exit of the Reconstruction process.

Subject to completion of the Restructuring Proposal and based on the Scheme, the voluntary restructuring in May 2020, the Company has since end of fourth quarter 2019 reduced total debt by approximately NOK 62 to 65 billion and eliminated aircraft orders of approximately NOK 85 billion in aggregated value. Total liabilities post restructuring are estimated to be in the range of NOK 16 to 20 billion and on the basis of a fleet of 51 aircraft NOK 6 to 7 billion in aircraft related debt.

The Company has previously indicated an overall capital raise of NOK 4.5 to 5.0 billion as part of the Restructuring Proposal (the “Capital Raise”). Based on the current uncertainty related to re-opening of societies due to the Covid-19 pandemic, feedback from investors, the Board of Directors of the Company have chosen to be conservative and increase the Capital Raise to a minimum NOK 4.5 billion up to NOK 6.0 billion, including a New Capital Perpetual Bonds with gross proceeds of up to NOK 1,875 million and a Rights Offering directed to the shareholders as of the record date with gross proceeds of up to NOK 400 million.

The blended issue price in the Capital Raise will be set to maximum NOK 6.99 per share. Depending on the amount of new capital raised, the new investors in the Capital Raise, by investing in equity and/or the New Capital Perpetual Bonds, will hence receive approximately 70.0 - 75.7 per cent of the post-Restructuring share capital with the shares held by existing shareholders diluted to approximately 4.6 – 3.7 per cent.

Unsecured creditors may recover through participation in the proposed capital raise comprising (i) a pro rata cash payment from a “pool” to be distributed among unsecured creditors and customer creditors (ii) a convertible debt claim with 7 year maturity and NIBOR +1% interest (“Dividend Claims”). The Dividend Claims will on certain terms and conditions be convertible in aggregated into shares representing a minimum 20.6 up to 25.4 per cent of the Company’s share capital following the Restructuring and the proposed capital raise.

Certain cornerstone investors who have provided long term support to the Restructuring and Capital Raise in times of significant uncertainty have, subject to certain terms and conditions, undertaken to subscribe for and will be allocated shares for a total amount of NOK 2,855 million in the Private Placement.

In addition, current creditors of Norwegian have already expressed an interest to participate in the Capital Raise with an amount of at least NOK 1,800 million in the New Perpetual Bonds.

The Company expect the Capital Raise to commence on or about 10 May 2021 after approval of the Prospectus by NFSA with a target closing on or about 26 May 2021.

Seabury Securities ltd serves as Lead financial restructuring advisor on Norwegian Air Shuttle’s restructuring as well as financial advisor on the airline capital raise. DNB Markets, a part of DNB Bank ASA acts as Global Coordinator for the Capital Raise.

For more information, please contact: Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 14 April 2021 Norwegian Air Shuttle ASA

Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, tel +47 995 46 400. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa, New Zealand, Japan or the United States.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

Seabury Securities Ltd and DNB Markets, a part of DNB Bank ASA are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or “NAS”, and together with its subsidiaries, the “Group”) dated 26 March 2021 wherein the judge of the High Court approved the scheme of arrangement (the “Scheme”) for an exit of the examinership process (the “Examinership”).

The Examiner reported that the restructuring proposals were approved by the shareholders of NAS and by a majority of meetings of Creditors of NAS and by a majority of the meetings of the creditors of the Examinership Companies.

Following the ruling by the Irish High Court the Norwegian Reconstructor, Håvard Wiker at Ro Sommernes advokatfirma DA, has conducted a voting process in Norway on the NAS reconstruction proposal (the “Reconstruction”, and together with the Examinership, the “Restructuring Proposal”). On 10 April the Reconstructor reported that the Reconstruction proposals were approved by a majority of the creditors of the Company. Today the judge of the Oslo Byfogdembete has approved the scheme for an exit of the Reconstruction of the Company.

For more information, please contact: Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 12 April 2021 Norwegian Air Shuttle ASA

Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, tel +47 995 46 400. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa, New Zealand, Japan or the United States.

Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

Seabury Securities Ltd and DNB Markets, a part of DNB Bank ASA are acting for the Company and no one else in connection with the offering and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Stadfestelse av rekonstruksjon med tvangsakkord.pdf

Norwegian’s traffic figures for March are heavily influenced by the travel restrictions and soft demand. The capacity was 97% lower than last year with a load factor of 42.7%. Norwegian operated nine aircraft in March, mainly on domestic routes in Norway.

Compared to the same period last year:
  • Total capacity (ASK) decreased by 97%
  • Total passenger traffic (RPK) decreased by 98%
  • The load factor was 42.7%, down 29 p.p.
  • The total number of passengers flown was 71,399, a decrease of 94%

The unit revenue (RASK) is estimated at 0.43 for the period, up by 50%.

The average flying distance for the Group decreased by 69% in March compared to the same period last year.

In March, the Group operated 99.4% of its scheduled flights, whereof 93.7% departed on time, 6.2 p.p. higher than last year.

Fornebu, 9 April 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, tel +47 99546400.

Traffic figures for March 2021

Reference is made to the following perpetual bond issues of Norwegian Air Shuttle ASA (the “Company”):

(i) Norwegian Air Shuttle ASA perpetual 0% EUR convertible bond loan with ISIN NO 0010883416 in the aggregate amount of EUR 7,617,931 (“EUR Perpetual Bonds”); and

(ii) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 73,606,742 (“USD Perpetual Bonds”).

The EUR Perpetual Bonds and the USD Perpetual Bonds form part of the Company’s subordinated perpetual bond issues as further described in the prospectus dated 5 May 2020 (the “Prospectus”). As set out in the Prospectus, the perpetual bonds have been issued on multiple ISINs reflecting different currencies of issue.

The Company has received conversion notices from bondholders representing (a) EUR 450,000 of EUR Perpetuals Bonds; and (b) USD 4,068,862 of USD Perpetuals Bonds, which pursuant to standard terms set out in the bond terms are convertible into 113,108new shares in the Company.

Following the conversion, NAS has perpetual bonds in issue in the nominal amount of approximately NOK 770 million (including amounts issued in other currencies exchanged into NOK at the fixed exchange rate set out in the applicable perpetual bond agreements) which may in the option of the holders be converted into approximately 1.8 million shares in the Company at NOK 424.919 (the “Conversion Price”), subject to anti-dilution provisions as set out in the Prospectus.

The Company’s share capital is increased by NOK 11,310.80 by issue of 113,108 new shares. The increase pertaining to the conversion of the USD Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 4,048,340.30 divided into 40,483,403 shares, each with a nominal value of NOK 0.10.

Issuance of the new shares in the VPS is expected to take place tomorrow.

Fornebu, 30 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 99546400.

The Proposal (as defined in the Notice) was adopted according to the voting requirements of the Bond Terms and the Bond Trustee is authorised to take the necessary actions to implement the Proposal.

Fornebu, 29 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 995 46 400

Notice from Written Resolution 29032021  
Notice from Written Resolution 29032021

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or the “Group”) dated 14 January 2021 and 19 February 2021 wherein the board of directors of the Company reported on indicative plans for the Company’s emergence from its ongoing restructuring processes and the stock exchange announcement dated 11 March 2021 announcing that Mr Kieran Wallace of KPMG Ireland as Examiner of the Company and a number of Irish subsidiaries of the Group (the "Examinership Companies") had proposed schemes of arrangement for the financial restructuring the Company and the Examinership Companies (together the “Restructuring Proposals”).

Following the formulation of the Restructuring Proposals the Examiner convened meetings of the relevant classes of members and creditors of the Company and the Examinership Companies to consider and vote upon the Restructuring Proposals. Those meetings initially took place over the course of 18 - 20 March 2021, with certain inquorate meetings adjourned to 22 March 2021 and 23 March 2021.

The Restructuring Proposals were approved by the shareholders of NAS and by a majority of meetings of Creditors of NAS and by a majority of the meetings of the creditors of the Examinership Companies.

Today the Examiner presented the Restructuring Proposals to the Irish High Court for consideration and confirmation. The judge of the High Court approved the scheme for an exit of the Examinership.

Following the ruling by the Irish High Court the Norwegian Reconstructor Håvard Wiker at Ro Sommernes advokatfirma DA will open the voting process in Norway on the NAS restructuring proposal to be concluded on or about 9 April 2021.

In the event the voting process in Norway on the NAS restructuring is approved, the Company will move forward with the Capital Raise commencing in April and target closing in May 2021.

For more information, please contact: Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 26 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by EVP Tore Østby at Norwegian Air Shuttle ASA, tel +47 995 46 400.

Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Reference is made to the Norwegian Air Shuttle ASA (the “Company”) perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 79,077,894 (“USD Perpetual Bonds”).
The Company has received conversion notices from bondholders representing USD 5,471,152 in this bond issue, which pursuant to standard terms set out in the bond terms are convertible into 135,875 new shares in the Company.

The USD Perpetual Bonds form part of the Company’s subordinated perpetual bond issues as further described in the prospectus dated 5 May 2020 (the “Prospectus”).As set out in the Prospectus, the perpetual bonds have been issued on multiple ISINs reflecting different currencies of issue.

Following the conversion, NAS has perpetual bonds in issue in the nominal amount of approximately NOK 818 million (including amounts issued in other currencies exchanged into NOK at the fixed exchange rate set out in the applicable perpetual bond agreements) which may in the option of the holders be converted into approximately 1.9million shares in the Company at NOK 424.919 (the “Conversion Price”), subject to anti-dilution provisions as set out in the Prospectus.

The Company’s share capital is increased by NOK 13,587.50 by issue of 135,875 new shares. The increase pertaining to the conversion of the USD Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company’s new share capital is NOK 4,037,029.50 divided into 40,370,295 shares, each with a nominal value of NOK 0.10.

Issuance of the new shares in the VPS is expected to take place later today.

Fornebu, 19 March 2021

Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 99546400.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcements of Norwegian Air Shuttle ASA (the “Company” or the “Group”) dated 14 January 2021 and 19 February 2021 wherein the board of directors of the Company reported on indicative plans for the Company’s emergence from its ongoing restructuring processes.

Following the Irish High Court’s decision on Friday 5 March 2021 in respect of the repudiation of certain contracts, Mr Kieran Wallace of KPMG Ireland as Examiner of the Company and a number of Irish subsidiaries of the Group (the "Examinership Companies") has proposed schemes of arrangement for the financial restructuring the Company and the Examinership Companies, which in the case of the Company will be implemented through the Norwegian reconstruction processes (together the “Restructuring Proposal”).

The Restructuring Proposal provides, among other matters, for each creditor with an unsecured claim to receive a dividend equal to 5.0% of such creditor’s unsecured claim (excluding any amount the creditor may recover through participation in the proposed capital raise) comprising (i) a pro rata cash payment from a NOK 500 million “pool” to be distributed among unsecured creditors and (ii) a convertible debt claim with 7 year maturity and NIBOR +1% interest (“Dividend Claims”). The Dividend Claims will on certain terms and conditions be convertible in aggregated into shares representing up to 25.4% of the Company’s share capital following the Restructuring and the proposed capital raise. The Restructuring Proposal is conditional on certain matters including the approval of requisite classes of creditors of the Examinership Companies, the confirmation by the Irish High Court and the Norwegian Court (in the case of the reconstruction) and ultimately the closing of the proposed rights offering, private placement and offering of perpetual hybrid instrument (the “New Capital Perpetual Bonds”) (the "Capital Raise"). New investors in the Capital Raise, by investing in equity and/or the New Capital Perpetual Bonds, will receive approximately 70% of the post-Restructuring share capital with the shares held by existing shareholders diluted to approximately 4.6%. This equity allocation (including the allocation of the shares on the conversion of the Dividend Claims) assumes, for illustrative purposes, an overall Capital Raise of NOK 4,500,000,000, comprised of up to NOK 3,000,000,000 in shares and up to NOK 1,850,000,000 in New Capital Perpetual Bonds and will be subject to change in the event that the Capital Raise exceeds NOK 4,500,0000. Further details regarding the Restructuring Proposal and its terms are set out in the proposals for a scheme of arrangement (the "Proposals") and accompanying explanatory memorandum issued by the Examiner.

The Examiner is today convening meetings of the relevant classes of members and creditors of the Company and the Examinership Companies to take place over the course of 18 – 20 March 2021 and will as soon as possible thereafter seek the confirmation of the Proposals by the Irish High Court.

Notices for the meeting of the shareholders of the Company and certain classes of creditors of the Company and Norwegian Air International Limited are available here [insert hyperlink] together with a copy of the Proposals for the Company and an accompanying explanatory memorandum.

In the event the Restructuring is approved by the required authorities the Company plans to move forward with the Capital Raise commencing in early April, a subscription period in mid-April and target closing mid May 2021.

For further details of the overall detailed plan supporting the future operations of the Company see the attached documents.

For more information, please contact:
Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 11 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 995 46 400.

Important information
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Norwegian’s traffic figures for February are heavily influenced by the travel restrictions and soft demand. The capacity was 98% lower than last year with a load factor of 38.1%. On average Norwegian operated eight aircraft in February, mainly on domestic routes in Norway.

Compared to the same period last year:

  • Total capacity (ASK) decreased by 98%
  • Total passenger traffic (RPK) decreased by 99%
  • The load factor was 38.1%, down 44 p.p.
  • The total number of passengers flown was 61,374, a decrease of 97%

The unit revenue (RASK) is estimated at 0.36 for the period, up by 19%.

The average flying distance for the Group decreased by 67% in February compared to the same period last year.

In February, the Group operated 96.8% of its scheduled flights, whereof 93.5% departed on time, 9.3 p.p. higher than last year CO2 emissions was 202 grams per RPK, due to lower load factor than normal.

Fornebu, 4 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 99546400.

Traffic figures February 2021

On Monday 1 March 2021, a total of 21,736 shares were purchased on behalf of employees in Norwegian Air Shuttle ASA participating in the company's employee share saving program. The average purchase price was NOK 55.07 per share.

On behalf of board member and primary insider Eric Holm the company has purchased 54 shares. The new holding is 171 shares.

Fornebu, 1 March 2021 Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to MAR article 19 no. 3, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 99546400.

Norwegian today reported its fourth quarter 2020 results. As anticipated, these are heavily impacted by the negative effects of the company’s reconstruction process and fully in line with the company’s plan to focus on Nordic operations.
The reconstruction process is continuing and proceeding in accordance with the timetable as earlier announced. Going forward, Norwegian will focus on a strong and profitable Nordic and European network. The company plans to serve these markets with 53 narrow body aircraft in 2021 (50 operational and 3 spare).
With respect to timing, the Company is working with the Examiner and the Reconstructor with a view to commencing the legal steps required to implement the proposed Restructuring, including the issuance of a scheme of arrangement by the Examiner as soon as possible, with a view to the Capital Raise commencing in late March/early April, with the subscription period in mid-April and target closing end of end April / mid May. The overall detailed plan supporting the future operations of the company will be disclosed during the course of next week.

Fornebu 26 November 2021

Norwegian Air Shuttle ASA

For further information, please contact:
Geir Karlsen, CFO, tel +47 91608332

This information is prepared by Tore Østby, EVP Strategic Development and IR, Norwegian Air Shuttle ASA, tel. +47 99546400

Fourth quarter 2020 financial report

Reference is made to the following perpetual bond issues of Norwegian Air Shuttle ASA (the “Company”):

(i) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 80,956,203 (“USD Perpetual Bonds”); and

(ii) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010884646 in the aggregate amount of USD 17,652,897 as described in the Company’s stock exchange notice dated 30 September 2020 (“Future Maintenance Bonds”).

The USD Perpetual Bonds and Future Maintenance Bonds form part of the Company’s subordinated perpetual bond issues as further described in the prospectus dated 5 May 2020 (the “Prospectus”).

The Company has received conversion notices from bondholders representing: (a) USD 1,878,309 of USD Perpetual Bonds; and (b) USD 17,652,897 of Future Maintenance Bonds, which pursuant to their terms are convertible into 485,054 new shares in the Company.

Following the conversion, NAS has perpetual bonds in issue in the nominal amount of approximately NOK 876 million (including amounts issued in other currencies exchanged into NOK at the fixed exchange rate set out in the perpetual bond terms) which may in the option of the holder be converted into approximately 2,061,715 shares in the Company at NOK 424.919, subject to anti-dilution provisions as set out in the Prospectus (excluding certain perpetual bonds held by the Company). No further Future Maintenance Bonds remain outstanding.

The Company’s share capital is increased by NOK 48,505.40 by issue of 485,054 new shares. The increase pertaining to the conversion of the USD Perpetual Bonds and Future Maintenance Bonds has today been registered in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret) and issuance of the conversion shares in the VPS is expected to take place on 22 February 2021. The Company’s new share capital is NOK 4,023,442 divided into 40,234,420 shares, each with a nominal value of NOK 0.10.

For further information, please contact: Tore Østby, EVP Strategic Development, phone: +47 995 464 00

Fornebu, 22 February 2021

Norwegian Air Shuttle ASA

Important information

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcement of Norwegian Air Shuttle ASA (the “Company”) dated 14 January 2021, wherein the board of directors of the Company set out an indicative plan for the Company’s emergence from its ongoing restructuring process (the “Plan”).

The Company is continuing its efforts with the examiner, Mr. Kieran Wallace (the “Examiner”) and the administrator, Mr. Håvard Wiker (the “Reconstructor”) to propose a restructuring of the Company through the Irish examinership and Norwegian reconstruction processes (together the “Restructuring”).

As previously announced, the proposed Restructuring will potentially involve each creditor with an unsecured claim receiving a debt claim (“Dividend Claims”, formerly referred to as the Old Capital Hybrid Loans) that, based on current calculations, would have a nominal value equal to 4% of such creditor’s unsecured claim. The Company is also exploring the possibility with the Examiner and the Reconstructor of offering a cash component alongside the Dividend Claims, however notes that the amount of cash that could be utilized for such a dividend will be reduced depending on the duration of the Restructuring, including any appeal process. The Dividend Claims in aggregate would on certain terms and conditions be convertible into shares representing approximately 25% of the Company’s share capital following the Restructuring and the proposed capital raise (the “Capital Raise”). New investors in the Capital Raise, by investing in equity and a perpetual hybrid instrument (the “New Capital Perpetual Bonds”), would receive approximately 70% of the post-Restructuring share capital, and current shareholders approximately 5%. With respect to timing, the Company is working with the Examiner and the Reconstructor with a view to commencing the legal steps required to implement the proposed Restructuring, including the issuance of a scheme of arrangement by the Examiner as soon as possible, with a view to the Capital Raise commencing in late March/early April, with the subscription period in mid-April and target closing end of April.

Following discussions with its stakeholders, the Company attaches indicative term sheets in respect of the New Capital Perpetual Bonds, the zero-coupon bonds proposed to be issued to creditors who invest in the Capital Raise, and the Dividend Claims.

DNB Markets, a part of DNB Bank ASA, has been appointed as global coordinator in respect of the issuance of the financial instruments in connection with the Capital Raise.

All proposals are subject in all respects to ongoing negotiations with stakeholders. The implementation of the foregoing and the Plan remain subject to consideration by the Irish Examiner and the Norwegian Reconstructor, and to receipt of the necessary approvals in accordance with the Restructuring processes, including ultimately sanctions by the Irish and Norwegian courts. Definitive terms will be announced in connection with the formal Restructuring plans to be proposed and resolved in Ireland and Norway.

For more information, please contact: Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 19 February 2021 Norwegian Air Shuttle ASA

Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Dividend Claims - indicative Term Sheet.pdf
New Capital Perpetual Bond - indicative Term Sheet.pdf

Reference is made to extraordinary general meeting of Norwegian Air Shuttle ASA (“NAS”) held 17 December 2020, whereby the general meeting inter alia resolved to reduce the share capital of the NAS with 393,518,723.40 by reducing the nominal value of each share.

The completion of the capital reduction has been subject to a creditor notice period of six weeks. The creditor notice period expired on 28 January 2021 without any objections from creditors being raised. The share capital reduction was registered as completed with the Norwegian Registry of Business Enterprises today. The registration implies that the nominal value of each share is now NOK 0.10 instead of NOK 10.00, but has no impact on the total number of shares issued. The share capital of NAS is thus NOK 3,974,936.60 divided into 39,749,366 shares each with a pair value of NOK 0.1

Tore Østby, EVP, tel+47 99546400

Fornebu 19 February 2021

Norwegian Air Shuttle ASA

Norwegian’s traffic figures for January are heavily influenced by the travel restrictions and drop in demand. The capacity was 98% lower than last year with a load factor of 35.9%.

On average Norwegian operated 8 aircraft in January, mainly on domestic routes in Norway. Compared to the same period last year:

  • Total capacity (ASK) decreased by 98%
  • Total passenger traffic (RPK) decreased by 99%
  • The load factor was 35.9%, down 45 p.p.
  • The total number of passengers flown was 74,224, a decrease of 96%
  • The unit revenue (RASK) is estimated at 0.29 for the period, down by 9%.
  • The average flying distance for the Group decreased by 67% in January compared to the same period last year.

In January, the Group operated 96.8% of its scheduled flights, whereof 90.4% departed on time. CO2 emissions was 196 grams per RPK, due to lower load factor than normal. Fornebu, 4 February 2021 Norwegian Air Shuttle ASA

Traffic report January 2021.pdf

Norwegian Air Shuttle ASA (NAS) has today published an updated presentation. The presentation is available at; https://www.norwegian.no/om-oss/selskapet/investor-relations/ Norwegian Air Shuttle ASA Fornebu, 27 January 2021

OSLO (JANUARY 21, 2021) – Norwegian is pleased to announce that the government of Norway has decided to support and contribute to the airline’s funding of new capital, pending certain conditions.
This move significantly increases Norwegian’s chances of working through the crisis caused by the pandemic and to position itself as a key player within Norwegian and European aviation.

“On behalf of everyone at Norwegian, I would like to sincerely thank the government for their support. Norwegian has been faced with a very challenging and demanding situation due to the pandemic, and the government’s support significantly increases our chances of raising new capital and getting us through the reconstruction process we are currently in. We still have a lot of work ahead of us, but a participation from the government underscores that we are heading in the right direction,” said Norwegian CEO, Jacob Schram.

Norwegian entered into an Irish examinership process and a supplementary reconstruction negotiation in Norway late last year. On January 14, 2021, the airline presented a new business plan based on a simplified business structure with a focus on a European route network and discontinuing its long-haul operations, as well as significantly reducing its debt.

The plan comprises a fleet of around 50 aircraft in operation this year, and to gradually increase to approximately 70 aircraft in 2022, pending demand and potential travel restrictions. The debt will be reduced to around NOK 20 billion, and the company will raise four to five billion NOK in new capital. “With a new business plan, and a participation from the government, we are confident we can attract investors and get through the Examinership and reconstruction process.

We have received extensive support from political parties, customers, colleagues, shareholders, and business partners, for which we are extremely grateful, especially during these challenging times.

Furthermore, the government’s support will contribute to help securing jobs and maintain healthy competition within the aviation sector,” added Schram. Media Contact: Anders Lindström | Anders.Lindstrom@Norwegian.com Link to announcement 

Press release - Government Support 2021.pdf

Reference is made to the following perpetual bond issues (the “Perpetual Bonds”) of Norwegian Air Shuttle ASA (the “Company”):

(i) Norwegian Air Shuttle ASA perpetual 0% EUR convertible bond loan with ISIN NO 0010883416 in the aggregate amount of EUR 7,617,931;

(ii) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 80,956,203; and

(iii) Norwegian Air Shuttle ASA perpetual 0% SEK convertible bond loan with ISIN NO 0010883473 in the aggregate amount of SEK 13,593,553.

On 9 December 2020, the Company applied for the Perpetual Bonds to be admitted to stock exchange listing on Oslo Børs, subject to approval by the Norwegian Financial Supervisory Authority (“NFSA”) of a listing prospectus. Since such date, certain amounts of Perpetual Bonds have been converted into 1,414,987 shares in the Company (the “Shares”), which have been placed on a separate ISIN NO0010914823, pending approval of a listing prospectus pertaining to listing of the Perpetual Bonds and listing of the Shares (the “Listing Prospectus”) as set out in the Company’s stock exchange notices dated 11 December 2020 and 23 December 2020.

The NFSA has today approved the Listing Prospectus. For more information, please refer to the Listing Prospectus which will, subject to regulatory restrictions in certain jurisdictions, be available at the Company’s website, www.norwegian.no. The Listing Prospectus has been prepared for the purpose of listing of the Perpetual Bonds and the Shares only, and no securities are being offered pursuant to the Listing Prospectus.

The Shares will be transferred to and registered on the Company's ordinary ISIN NO0010196140 and become freely tradable on Oslo Børs tomorrow, 15 January 2021, under the trading symbol "NAS". The Perpetual Bonds are expected to commence trading on Oslo Børs on Monday 18 January 2021.

For further information, please contact: Tore Østby, EVP Strategic Development, phone: +47 995 464 00

Important information

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

The Board of Directors of Norwegian Air Shuttle ASA ("Norwegian" or the "Company") is today announcing an indicative plan (the “Plan”) and set of actions that creates a framework that will potentially enable the Company to exit its Irish Examinership and Norwegian Reconstruction processes during the first quarter of 2021.

Core to the Plan is that Norwegian will henceforth focus on its core Nordics business, operating a European short haul network with narrow body aircraft. Under these circumstances a long haul operation is not viable for Norwegian and these operations will therefore not continue. The Company targets to reduce its total debt to around NOK 20 billion Norwegian also plans to raise NOK 4 - 5 billion in new capital through a combination of (i) a rights issue to current shareholders, (ii) a private placement and (iii) a hybrid instrument. The Company has already received written interest in participation in a private placement. The Company has recently reinitiated a dialogue with the Norwegian Government about possible state participation based on the current business plan.

Should the Plan be successful and accepted by the Examinership and Reconstruction Negotiation processes, Norwegian is expected to initially hold up to 50 Boeing 737 aircraft (owned and leased) primarily operating in Norway and the Nordics or from Norway/ Nordics to Continental Europe. It is estimated the Company will emerge having a total debt of around NOK 20 billion and free cash position of approximately NOK 4 to 5 billion following the reconstruction. Based on conservative assumptions both in relations to the length of the Covid-19 pandemic and relating to revenues, costs and load factors the Company expects positive EBITDA post reconstruction in 2021.

According to the presented Plan, current shareholders will hold approximately 5% of the shares in the Company post-reconstruction. In addition, shareholders are offered to participate in a rights offering of up to NOK 400 million. Norwegian´s impaired creditors are estimated to hold approximately 25% of the shares in the Company post reconstruction, as compensation for their participation in the debt reduction, while new investors (in both the equity issue and the new hybrid instrument) will hold, directly or indirectly, approximately 70% of the shares in the Company.

For further details, please see the enclosed INDICATIVE TERM SHEET FOR RIGHTS OFFERING AND RESTRUCTURING OF DEBT.

For more information, please contact: Geir Karlsen, CFO, phone +47 916 08 332

Press contact: Esben Tuman, SVP External Communications, phone +47 905 08 400

Fornebu, 14 January 2021 Norwegian Air Shuttle ASA

Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, the Hong Kong Special Administrative Region Of The People's Republic Of China, South Africa, New Zealand, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.

This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

20210114 Term sheet for restructuring.pdf

Norwegian’s traffic figures for December are heavily influenced by the travel restrictions and drop in demand. The capacity was 98% lower than last year with a load factor of 52.3%. On average Norwegian operated 9 aircraft in December, mainly on domestic routes in Norway.

Compared to the same period last year:

  • Total capacity (ASK) decreased by 98%
  • Total passenger traffic (RPK) decreased by 98%
  • The load factor was 52.3%, down 31 p.p.
  • The total number of passengers flown was 129,664, a decrease of 94%

The unit revenue (RASK) is estimated at 0.42 for the period, up 15%. The average flying distance for the Group decreased by 63% in December compared to the same period last year. In December, the Group operated 95.6% of its scheduled flights, whereof 88.5% departed on time. CO2 emissions was 141 grams per RPK, due to lower load factor than normal.

Fornebu 7 January 2021 Norwegian Air Shuttle ASA

Traffic report December 2020.pdf

Reference is made to previous announcements regarding MREL and the decision from the Board of Directors to apply to the Norwegian Financial Supervisory Authority (FSA) to merge Norwegian Finans Holding ASA and Bank Norwegian AS. The Norwegian FSA has on 5 January 2021 approved an application on the new company structure, leaving Bank Norwegian AS the ultimate parent company of the group after a merger. We are pleased to have received this approval, as a merger is expected to give positive synergies on administrative costs as well as reduce funding cost on future MREL eligible capital being issued from an operating company instead of a holding company.

Based on the approval, Norwegian Finans Holding ASA and Bank Norwegian AS will move forward with the formal merger process, including preparing the necessary documentation, applications and decisions by the companies' governing bodies.

The ambition is to complete the merger process during first half of 2021, with accounting and fiscal effect from 1 January 2021, conditional on obtaining necessary approvals from relevant authorities.

Contact persons:

CFO Klara Lise Aasen; phone +47 47635583; kaa@banknorwegian.no

Head of Treasury Mats Benserud; phone +47 95891539; mbe@banknorwegian.no

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act


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