Flyr AS — Share Issue/Capital Change 2022

Jun 24, 2022

Flyr AS: End of subscription period and cancellation of Subsequent Offering

Flyr AS: End of subscription period and cancellation of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER

JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE

UNLAWFUL.

Oslo, 24 June 2022. Reference is made to the stock exchange announcement by Flyr

AS ("Flyr" or the "Company") on 10 June 2022, regarding the start of the

subscription period in the subsequent offering of up to 62,500,000 new shares in

the Company (the "Subsequent Offering") until 24 June 2022 at 16:30 hrs (CET).

The subscription period ended today at 16:30 hrs (CET). In light of the listed

price for the Company's shares on the Oslo Stock Exchange, which has been

substantially below the offer price in the Subsequent Offering of NOK 1.20 for

the last week at significant traded volumes, the Company's Board of Directors

has resolved to cancel the Subsequent Offering. Eligible shareholders that have

exercised subscription rights for shares in the Subsequent Offering will thus

not be offered offer shares at the offer price of NOK 1.20.

Arctic Securities AS and Carnegie AS act as managers in the Subsequent Offering

(the "Managers"). Advokatfirmaet Wiersholm AS acts as Norwegian legal counsel to

Flyr AS.

ENDS

For further information, please contact:

Brede Huser, CFO, Flyr AS, +47 99 16 99 74

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 information is

considered to be inside information pursuant to the EU Market Abuse Regulation.

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

Officer on the time and date provided.

Important information

The release is not for publication or distribution, in whole or in part directly

or indirectly, in or into Australia, Canada, Japan Hong Kong or the United

States (including its territories and possessions, any state of the United

States and the District of Columbia). This release is an announcement issued

pursuant to legal information obligations and is subject to the disclosure

requirements of section 5-12 of the Norwegian Securities Trading Act. It is

issued for information purposes only and does not constitute or form part of any

offer or solicitation to purchase or subscribe for securities, in the United

States or in any other jurisdiction. The securities mentioned herein have not

been, and will not be, registered under the United States Securities Act of

1933, as amended (the "US Securities Act"). The securities may not be offered or

sold in the United States except pursuant to an exemption from the registration

requirements of the US Securities Act. The Company does not intend to register

any portion of any offering of the securities in the United States or to conduct

a public offering of the securities in the United States. Copies of this

announcement are not being made and may not be distributed or sent into

Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to

specific legal or regulatory restrictions in certain jurisdictions. Neither the

Company nor the Managers assume any responsibility in the event there is a

violation by any person of such restrictions. The distribution of this release

may in certain jurisdictions be restricted by law. Persons into whose possession

this release comes should inform themselves about and observe any such

restrictions. Any failure to comply with these restrictions may constitute a

violation of the securities laws of any such jurisdiction.

The Managers are acting for the Company and no one else in connection with the

Subsequent Offering in the Company, and will not be responsible to anyone other

than the Company providing the protections afforded to their respective clients

or for providing advice in relation to the Subsequent Offering and/or any other

matter referred to in this release.

Forward-looking statements: This release and any materials distributed in

connection with this release may contain certain forward-looking statements. By

their nature, forward-looking statements involve risk and uncertainty because

they reflect the Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A number of material

factors could cause actual results and developments to differ materially from

those expressed or implied by these forward-looking statements.