Norse Atlantic ASA

Delisting Announcement • Dec 12, 2025

NORSE ATLANTIC ASA: Cancellation of subsequent offering

NORSE ATLANTIC ASA: Cancellation of subsequent offering

Arendal, Norway, 12 December 2025 - Reference is made to the stock exchange

announcement published by Norse Atlantic ASA (the "Company") on 27 October 2025

regarding a private placement of new shares raising gross proceeds of

approximately NOK 113.7 million (the "Private Placement"), and a potential

subsequent offering of up to 12,092,853 new shares (the "Subsequent Offering")

at a subscription price per share of NOK 7.6938 (the "Subscription Price"),

equal to the price per share in the Private Placement.

Following completion of the Private Placement, the volume-weighted average price

(VWAP) per share between 28 October 2025 and 11 December 2025 was NOK 6.5643 and

approximately 21.37 million shares were traded at prices below the Subscription

Price on Euronext Expand in the period. Additionally, the latest closing price

per share on Euronext Expand was NOK 6.98, also lower than the Subscription

Price. Accordingly, any existing shareholder seeking to reduce the dilutive

effect of the Private Placement has had sufficient opportunity to purchase

shares in the market at prices at or below the Subscription Price.

On this basis, the board of directors of the Company has today resolved to

cancel the Subsequent Offering.

For further inquiries, please contact:

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

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.