Norse Atlantic ASA: Mandatory notification of trades

27 Oct 2025 19:21 CET

Arendal, Norway, 27 October 2025: Reference is made to the stock exchange
announcement by Norse Atlantic ASA (the "Company") earlier today regarding the
completion of a private placement of 14,780,242 new shares in the Company at a
subscription price of NOK 7.6938 per share (the "Subscription Price"), raising
gross proceeds of approximately NOK 113.7 million (the "Private Placement").

The following close associates of persons discharging managerial
responsibilities have been allocated shares in the Private Placement:

B T Larsen & Co Ltd, a company closely associated with and controlled by Bjørn
Tore Larsen, the CEO of the Company, was allocated 4,354,980 new shares in the
Private Placement at the Subscription Price. Following the Private Placement, B
T Larsen & Co Ltd will hold in total 47,904,781 shares in the Company,
corresponding to 29.46% of the total share capital; and

Songa Capital AS, a company closely associated with board member Felix Fürst,
was allocated 1,500,000 new shares in the Private Placement at the Subscription
Price. Following the Private Placement, Songa Capital AS will hold in total
14,461,330 shares in the Company, corresponding to 8.89% of the total share
capital.

Please see the attached notification forms for further details about the
transactions.

Contacts:

Investors: CFO, Anders Hall Jomaas, anders.jomaas@flynorse.com

This information is subject to the disclosure requirements in articles 19 of the
EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.

More information:
Access the news on Oslo Bors NewsWeb site

658045_Norse_Atlantic_ASA_PCA_notification_forms.pdf