Wet lease agreement between Norse and Interglobe Aviation Limited ("IndiGo")

26 Feb 2025 07:30 CET

Reference is made to the stock exchange announcement published by Norse Atlantic
ASA (the "Company") on 6 February regarding the entering into of a wet lease
agreement for one aircraft with the Indian airline IndiGo.

Today the Company has signed a firm wet lease agreement (the "Agreement") for
additional three - 3 - aircraft with IndiGo.

The additional three aircraft are expected to start operations from second half
of 2025 serving long haul routes out of India. The initial term of the Agreement
is six months, extendable to up to 18 months, subject to regulatory approvals.
Both Parties remain committed to explore opportunities to further extend this
period, subject to regulatory approvals. The delivery of the first aircraft is
on track and scheduled to start wet lease operations from 1st March servicing
IndiGo's Delhi - Bangkok route.

Norse and Indigo continue exploring opportunities to increase their
collaboration further.

The commercial terms of the wet lease agreements are in line with what was
communicated by the Company in the announcement of the LOI on 29 November 2024.

IndiGo is the largest airline in India by passengers carried and fleet size, it
is also one of the largest individual airlines in Asia and the world, both in
terms of passengers carried, fleet size and market cap. In 2024 IndiGo carried
more than 113 million passengers. Currently IndiGo operates primarily domestic
and regional short to medium haul services out of India but are in the process
of expanding its global reach by adding long haul services. To support its long
haul expansion IndiGo has placed a firm order for 30 Airbus 350-900 wide body
aircraft with an option for additional 70 aircraft, with deliveries expected to
commence from 2027.

Investor contacts: Anders Hall Jomaas, CFO, anders.jomaas@flynorse.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and the Norwegian Securities Trading Act section 5
-12.
This stock exchange announcement was published by Anders Hall Jomaas on the time
and date provided.

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