Norwegian Air Shuttle ASA (NAS) - Conversion of New Capital Perpetual Bonds - New share capital registered

26 May 2025 11:10 CEST

Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual
subordinated convertible bond loan with ISIN NO 0010996440, ISIN NO 0010996432,
ISIN NO 0011157331 and ISIN NO 0011157356 in the outstanding amount of NOK
1,501,015,057 (the "New Capital Perpetual Bonds").

The Company has received conversion notices from bondholders representing NOK
780,107,416, which pursuant to standard terms set out in the bond terms are
convertible into 83,078,529 new shares in the Company.

Following the conversion, the Company has New Capital Perpetual Bonds in issue
in the nominal amount of NOK 720,907,641. The remaining New Capital Perpetual
Bonds may be converted into approximately 76.8 million shares in the Company at
a conversion price of NOK 9.39, subject to anti-dilution provisions.

The Company’s share capital is increased by NOK 8,307,852.90 by issue of
83,078,529 shares. The capital increase pertaining to the conversion of the New
Capital Perpetual Bonds has today been registered in the Norwegian Register of
Business Enterprises (Norwegian: Foretaksregisteret). The Company’s new share
capital is NOK 104,695,899.10 divided into 1,046,958,991 shares, each with a
nominal value of NOK 0.10.

Issuance of the new shares in the VPS is expected to take place later today.


For further information, please contact:
Hans-Jørgen Wibstad, CFO at Norwegian Air Shuttle ASA, Tel: +47 916 89 661

Fornebu, 26 May 2025
Norwegian Air Shuttle ASA


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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