Flyr AS: Status of bookbuilding

09 Nov 2022 15:30 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES
OR ANY OTHER JURISDICTION IN WHICH THE 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 published by Flyr AS
("Flyr" or the "Company") on 9 November 2022 regarding the updated terms of the
contemplated capital raise to potentially raise gross proceeds of up to NOK 700
million through issuance of up to 70,000,000,000 new shares at a subscription
price of NOK 0.01 per share (the "Offer Price"), comprising of the following
elements:

i. A contemplated private placement of new ordinary shares in the Company (the
"New Shares"), raising gross proceeds of NOK 250 million (the "Private
Placement")
ii. A subsequent offering of new ordinary shares in the Company towards existing
shareholders unable to participate in the Private Placement raising gross
proceeds of up to NOK 100 million (the "Subsequent Offering")
iii. An allocation of one subscription right for each new share allocated to
investors participating in the Private Placement that can be exercised partially
or fully on 31 January 2023, 28 February 2023, or 31 March 2023, raising gross
proceeds of up to NOK 250 million
iv. An allocation of one subscription right for each new share allocated to
investors participating in the Subsequent Offering that can be exercised on 31
March 2023, raising gross proceeds of up to NOK 100 million (the subscription
rights in item iii) and iv) together referred to as the "Subscription Rights").

The Company has been informed that the managers have received orders such that
the Private Placement is oversubscribed.

Advisors

Arctic Securities AS, Carnegie AS and SpareBank 1 Markets AS act as Joint
Bookrunners in the Private Placement.

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 Norwegian based low-cost carrier with a demand driven business model
and a primary focus on the Norwegian market. The company targets a modern,
digital, and efficient setup to ensure high operational efficiency through
simplicity, optimized resource utilization and smart use of technology. Flyr AS
is listed at Euronext Growth under the ticker FLYR.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation.  This stock exchange release was published by Brede
Huser, Chief Financial Officer on the time and date provided.

Important information

The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan Hong Kong 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 to the disclosure
requirements of 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 any 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.

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
potential Private Placement in the Company, 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 Private Placement
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.

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