NORSE ATLANTIC ASA: MANDATORY NOTIFICATION OF TRADE AND DISCLOSURE OF LARGE SHAREHOLDING

29 Nov 2024 08:00 CET

Arendal, 29 November 2024: Reference is made to the stock exchange announcement
by Norse Atlantic ASA (the "Company") earlier today (the "Announcement")
regarding a private placement of 19,278,576 new shares in the Company directed
towards B T Larsen & Co Ltd ("BTLCo") at a subscription price of NOK 5 per
share, raising gross proceeds of NOK 96,392,880, equivalent to approx. USD 8.7
million (the "Private Placement"). All terms used in this notice shall have the
meaning ascribed to such terms in the Announcement.

BTLCo, a company closely associated with and controlled by Bjørn Tore Larsen,
the CEO of the Company, was allocated 19,278,576 new shares in the Private
Placement.

Prior to the registration of the share capital increase pertaining to the
Private Placement, BTLCo holds 24,271,225 shares in the Company, equal to
approximately 18.88% of the issued share capital and votes.

Following the registration of the Private Placement share capital increase,
BTLCo will hold 43,549,801 shares in the Company, equal to approximately 29.46%
of the issued share capital and votes. BTLCo has thereby exceeded the 20% and
25% thresholds pursuant to section 4-2 of the Norwegian Securities Trading Act.
BTLCo has no other rights to shares in the Company.

Furthermore, following the registration of the Private Placement share capital
increase, the shareholding of Scorpio Holding Limited, in total 27,272,419
shares, will equal 18.45% of the issued share capital and votes. Scorpio Holding
Limited has thereby fallen below the 20% threshold pursuant to section 4-2 of
the Norwegian Securities Trading Act. Scorpio Holding Limited has no other
rights to shares in the Company.

Please see the attached form in accordance with article 19 of the EU Market
Abuse Regulation.

For further information, please contact:

Investors: CFO, Anders Jomaas, Anders.Jomaas@flynorse.com

Media: Communications Manager, Christina Carare, christina.carare@flynorse.com

This information is subject to the disclosure requirements in articles 19 of the
Regulation EU 596/2014 (the EU Market Abuse Regulation) and sections 4-2 and 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

633483_NORSE_Disclosure_of_transactions_by_PCA_22058750_1.pdf