Norwegian Air Shuttle ASA – Contemplated buy-back of bonds

18 Nov 2024 08:00 CET

November 18, 2024 – Norwegian Air Shuttle ASA (the “Company”) is contemplating a
buy-back of the zero-coupon senior unsecured NOK 3,229,575,526 bond issue
maturing 30.09.2026 (Retained Claims Bonds with ISIN NO0010996457).

DNB Markets is acting as Manager of the buy-back. The buy-back will be conducted
as a “Reverse Dutch Auction”, where the Company, through the Manager, will
receive offers for desired volume(s) at desired price(s) for sale from
bondholders on a confidential basis. The Company reserves the right to accept
any volume up to an accepted price, or to reject all received offers in the
contemplated buy-back.

Eligible bondholders are hereby invited to provide offers for sale of all or a
portion of their bonds through submission of the attached bondholders offer form
(the “Bondholders Offer Form”). Due date for submission is 16:00 CET, November
22, 2024. Prior to 09:00 CET, November 25, 2024, the Company will decide upon
the highest Buy-Back Price (the “Buy-Back Price”) the Company accepts and
consequently the total amount of bonds to be purchased, if any.

All bondholders with offers equalling the Buy-Back Price or lower will receive
the Buy-Back Price on allocated amounts up to the amounts offered within the
accepted maximum price. The Company may in its sole discretion reduce the number
of Bonds to be acquired on a pro rata basis for Bonds offered at the Buy Back
Price. Cash settlement is set to November 28, 2024.

The acquired bonds will be cancelled following settlement. The Company will only
accept offers from bondholders or beneficial owners (or any person acting as
agent, custodian, fiduciary or in another intermediary capacity for a bondholder
or beneficial owner) who is not a U.S. person (as such term is defined pursuant
to Regulation S under the US Securities Act of 1933, as amended) and who is
outside the United States. Other offer and distribution restrictions apply, as
further set out in the Bondholders Offer Form.

All submissions of Bondholders Offer Form are to be sent by e-mail to DNB
Markets no later than 16:00 CET, November 22, 2024. Contact details:

E-mail: bond.syndicate@dnb.no

The Company may, in its sole discretion, waive, extend, terminate, withdraw or
increase the size of the buy-back at any time. Any prospective changes to this
offer will be announced on www.stamdata.com. Information about Norwegian Air
Shuttle ASA, including company financials and stock exchange releases, can be
found on the Company’s investor relation website
(https://www.norwegian.no/om-oss/selskapet/investor-relations/).

Please see Bondholders Offer Form attached.


For further information, please contact:
Jesper M. Hatletveit, Investor Relations at Norwegian, Tel: +47 906 64 401


Fornebu, 18 November 2024
Norwegian Air Shuttle ASA

More information:
Access the news on Oslo Bors NewsWeb site

632473_NAS_November 2024_Bondholders Offer Form.pdf