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

26 May 2025 21:30 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 and the buy-back of the New Capital Perpetual Bonds
representing a total nominal value of NOK 640,403,733 as announced on 19 May
2025, the Company has New Capital Perpetual Bonds in issue in the nominal amount
of NOK 80,503,908. The remaining New Capital Perpetual Bonds may be converted
into 8,573,366 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.

This stock exchange announcement has been corrected to reflect the buy-back of
the New Capital Perpetual Bonds as announced on 19 May 2025.

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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