Flyr AS — Capital/Financing Update 2022

Mar 17, 2022

Flyr - Strategic marketing agreement with TV 2 Invest and private placement

Flyr - Strategic marketing agreement with TV 2 Invest and private placement

Flyr AS (the "Company") has today entered into a strategic marketing agreement

with TV 2 Invest AS ("TV 2 Invest") (the "Agreement").

Pursuant to the Agreement, TV 2 Invest shall subscribe for shares in the Company

for an amount of NOK 10 million and the Company has undertaken to purchase

marketing services from TV 2 Invest at a significant discount for a

corresponding amount, to be shown on TV 2 AS' marketing platforms, from

1 April 2022 to 31 December 2022. The parties also have an intention to discuss

cooperation on other marketing opportunities.

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

issue 11,528,440 new shares to TV 2 Invest at a subscription price per share of

NOK 0.86742, which corresponds to the volume weighted average share price of the

Company's shares on 17 March 2022, less 10%. The new shares are issued pursuant

to the board authorization to increase the Company's share capital in connection

with, inter alia, strategic and financial partnerships granted by the Company's

extraordinary general meeting on 4 January 2022.

After the resolution by the board of directors to issue the new shares, the

Company's new resolved share capital is NOK 849,372.668 divided on 424,686,334

shares, each with a nominal value of NOK 0.002.

Issuance of the new shares entails a deviation of existing shareholders'

preferential rights. The board has considered the private placement of new

shares in light of the equal treatment obligations the Company is subject to,

and deems that the share issuance is in compliance with these requirements. The

board considers that the Agreement with TV 2 Invest is a strategic and financial

arrangement to the benefit of all shareholders, as it provides the Company with

marketing services at a significant discount. Moreover, the new shares are

issued at a subscription price with a limited discount (10%) to market price and

the new shares represent a limited portion of the Company's existing share

capital (2.79%). Based on this, the board believes that the Agreement including

the private placement directed towards TV 2 Invest is in the common interest of

the Company and its shareholders.

For further information, please contact:

Brede Huser, Chief Financial Officer

Phone: +47 99 16 99 74

Email: brede.huser@flyr.com

About Flyr

Flyr is a Norwegian based low-cost carrier with a demand driven business model

and a primary focus on the Norwegian market. The company targets a modern,

digital, and efficient setup to ensure high operational efficiency through

simplicity, optimized resource utilization and smart use of technology. Flyr AS

is listed at Euronext Growth under the ticker FLYR.

This announcement is considered to include inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act.

This stock exchange release was published by Brede Huser, Chief Financial

Officer, on 17 March 2022 at 19:50 CEST.