Norwegian Air Shuttle ASA (NAS) – Grant of share options

07 Aug 2025 20:00 CEST

Reference is made to the stock exchange announcement on 14 May 2025 regarding
the annual general meeting where it was resolved to grant the board of directors
an authorisation to issue shares in connection with the incentive programs of
Norwegian Air Shuttle ASA (NAS). On 7 August 2025, the grant date, executives
were granted a total of 3,686,376 share options in NAS. The following primary
insiders were granted share options as follows:

Geir Karlsen, Chief Executive Officer (CEO), has been granted 1,241,476 share
options. Following the grant, Karlsen holds 3,803,207 options and 651,478 shares
in NAS.

Hans-Jørgen Wibstad, Chief Financial Officer (CFO), has been granted 552,940
share options. Following the grant, Wibstad holds 1,116,529 options and 92,198
shares in NAS.

Henrik Fjeld, Chief Operation Officer (COO), has been granted 252,414 share
options. Following the grant, Fjeld holds 252,414 options and no shares in NAS.

Magnus Thome Maursund, Chief Commercial Officer (CCO), has been granted 304,534
share options. Following the grant, Thome Maursund holds 551,103 options and
7,345 shares in NAS.

Knut Olav Irgens Høeg, Chief IT & Business Services Office, has been granted
263,527 share options. Following the grant, Irgens Høeg holds 479,570 options
and 189,254 shares in NAS.

Tore Kristian Jenssen, CEO Widerøe, has been granted 257,088 share options.
Following the grant, Jenssen holds 512,403 options and no shares in NAS.

Guro Halvorsen Poulsen, Chief People Officer, has been granted 252,280 share
options. Following the grant, Poulsen holds 330,557 options and 177,789 shares
in NAS.

Anne-Sissel Skånvik, Chief Communications Customer & Public Affairs Officer, has
been granted 148,534 share options. Following the grant, Skånvik holds 207,942
options and 52,293 shares in NAS.

Jeanette Theresa Bø-Alnes, Chief Performance Officer, has been granted 104,892
share options. Following the grant, Bø-Alnes holds 104,892 options and 25,154
shares in NAS.

The granted share options vest in three equal instalments on each anniversary of
the grant date, and vested options may be exercised during a seven-year exercise
period following the grant date. Each share option entitles the holder to
acquire one share at a strike price of NOK 19.74 per share. The aggregate value
received from options granted in 2025 shall not exceed four times the
participant’s base annual salary in any calendar year, subject to certain
exemptions. The strike price shall be adjusted for dividends.

Please see attached notifications for persons discharging managerial
responsibilities in accordance with Regulation EU 596/2014 (MAR), article 19 and
section 5-12 of the Norwegian Securities Trading Act.

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

Fornebu, 7 August 2025

Norwegian Air Shuttle ASA

This release is an announcement issued pursuant to legal information obligations
and is subject of the disclosure requirements pursuant to the Market Abuse
Regulation (MAR) Article 19 no. 3 and section 5-12 of the Norwegian Securities
Trading Act, and was published by Teodora Samoila, Financial Analyst at
Norwegian Air Shuttle ASA, tel. +47 998 51 139.

More information:
Access the news on Oslo Bors NewsWeb site

652372_NAS2025 share option allocation PDMR.pdf