Norwegian Air Shuttle ASA (NAS): Disclosure of large holdings

12 May 2025 08:40 CEST

The Norwegian state, represented by the Norwegian Ministry of Trade, Industry
and Fisheries ("NMTIF") has today submitted a conversion notice in relation to
the subordinated convertible perpetual bonds with ISINs NO0010996440,
NO0010996432, NO0011157331 and NO0011157331 issued by Norwegian Air Shuttle ASA
("NAS"), whereby NMTIF will receive 65,582,436 newly issued shares in NAS, equal
to 6.37% of the shares and votes in NAS on a fully diluted basis.

Delivery of the shares is, pursuant to the terms of the Bonds, required to take
place no later than 27 May 2025.

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