Norse Atlantic ASA: New share capital and nominal value registered

12 Dec 2022 11:02 CET

Arendal, 12 December 2022: Reference is made to the stock exchange notice by
Norse Atlantic ASA (the "Company") on 9 December 2022 regarding the completion
of an extraordinary general meeting in the Company (the "EGM"). The EGM resolved
to, inter alia, (i) decrease the Company's share capital by decrease of the
nominal value of the Company's shares from NOK 3.00 to NOK 1.25, (ii) to carry
out a share capital increase of NOK 150,000,000 by issuance of 120,000,000 new
shares (the "Offer Shares"), each with a nominal value of NOK 1.25, in a private
placement and (iii) to carry out a share capital increase of NOK 10,500,000 by
issuance of 8,400,000 new shares (the "UWC Shares"), each with a nominal value
of NOK 1.25, in a private placement by debt conversion.

The share capital decrease and the share capital increases pertaining to the
issuance of the Offer Shares and UWC Shares have now been registered with the
Norwegian Register of Business Enterprises:

Share capital: NOK 257,605,392.50

Total number of shares: 206,084,314

Nominal value per share: NOK 1.25

The Offer Shares and UWC Shares are tradeable on Euronext Growth Oslo as of this
notice. Settlement of the Offer Shares will take place on a delivery versus
payment (DVP) basis on 14 December 2022. Settlement of the UWC Shares will take
place on a free of payment (FOP) basis on 14 December 2022.

For further information, please contact:

Ben Boiling, Chief Financial Officer

Phone: +47 912 40 945

Email: ben.boiling@flynorse.com

About Norse

Norse Atlantic Airways is a new airline that offers affordable fares on long
-haul flights, primarily between Europe and the United States. The Company was
founded by CEO and major shareholder  Bjørn Tore Larsen in March 2021. Norse has
a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing
787 Dreamliners that will serve destinations including New York, Los Angeles,
Fort Lauderdale, Orlando, Oslo, London, Berlin and Paris. The company's first
flight took off from Oslo to New York on June 14, 2022.

This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act and the Euronext Rule Book part II.

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