Flyr AS - Private Placement not fully subscribed, received alternative proposal from professional investors

08 Nov 2022 16:37 CET

Reference is made to the stock exchange announcement by Flyr AS (the "Company")
on 3 November 2022 regarding the contemplated private placement of 43 000 000
000 new shares with a subscription price of NOK 0.01 to raise gross proceeds of
NOK 430 million (the "Private Placement").

The purpose of the Private Placement is to re-establish the Company's financial
position to bring the Company through the coming winter season and to be
positioned to ramp-up for the coming spring and summer based on the Company's
business plan and market assumptions.

The subscription period in the Private Placement ended today at 16:30 CET. The
Private Placement has not been fully subscribed, but the Company has received a
proposal for an alternative transaction structure from a combination of existing
and new professional investors. The board of directors of the Company will now
consider the alternative transaction structure, and plan to revert with an
updated announcement before the market opens tomorrow morning. Flyr's flights
will continue to operate as normal.

For further information please contact:

Brede Huser, Chief Financial Officer

Phone: +47 99 16 99 74

Email:  Brede.huser@flyr.com

About Flyr

Flyr is a low-cost carrier (LCC) with a demand driven and sustainable business
model, with focus on serving the Norwegian market with domestic and
international flights from its base at Oslo Airport. Flyr AS is listed at
Euronext Growth under the ticker FLYR. To learn more, please visit www.flyr.com.

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

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