Norse Atlantic ASA

86% Load Factor and Continued Strong Summer Demand: Robust Operational Performance and Fourth Consecutive Month of Zero Cancellations

In the month of August, Norse Atlantic Airways recorded an average load factor

of 86 per cent, marking a steady increase of 1 percentage point (p.p.) compared

to the previous month, and represents the sixth consecutive month of load factor

growth. Norse Atlantic Airways transported 151,420 passengers across 520

flights, operating all scheduled flights without any cancellations, resulting in

100 per cent completion rate since 24 April of this year. 70 per cent of flights

arrived within 15 minutes of the scheduled arrival time. Norse Atlantic Airways

remains dedicated to becoming the leading airline for long-haul, low-cost travel

to exciting destinations, offering passengers more opportunities and flexibility

to explore the world.

"I am very pleased that our load factor has continued to increase month on

month, demand for Norse's affordable fares and excellent service has been strong

throughout the summer. For the fourth consecutive month we have had zero

cancellations which is a testament to our robust operations and dedicated

colleagues from across the airline.

As we head into the winter trading period Norse Atlantic is well placed to act

should oil prices continue to rise as they have done recently. Our ability to

quickly respond and adapt our network as necessary, including careful control of

our cost base, are the hall marks of our low-cost operating model. The global

cargo market has continued to decline as rates and demand have fallen following

the post pandemic surge. Our competitive rates and direct route network offer a

good value proposition for cargo forwarders, however, our forecasts for

transported cargo have been lower than anticipated," said Bjorn Tore Larsen, CEO

and Founder of Norse Atlantic Airways.

Key traffic figures for August are attached.

Contacts:

Investors: CFO, Anders Jomaas, [email protected]

Media: SVP Communications, Philip Allport, [email protected]

Norse Atlantic Airways is an airline that offers affordable fares on long-haul

flights, primarily between Europe and the United States. The company was founded

by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet

of 15 modern, fuel-efficient and more environmentally friendly Boeing 787

Dreamliners that serve destinations including New York, Los Angeles, Fort

Lauderdale, Orlando, Boston, Washington, San Francisco, Boston, Jamaica,

Barbados, Miami, Oslo, London, Berlin, Rome and Paris. The company's first

flight took off from Oslo to New York on June 14, 2022.

AI Terminal