Norse Atlantic ASA

Earnings Release • Jul 6, 2023

­­Norse Atlantic June operational update - Fourth Consecutive Month-on-Month Increase In Load Factor As Airline Celebrated One Year of Operations

­­Norse Atlantic June operational update - Fourth Consecutive Month-on-Month Increase In Load Factor As Airline Celebrated One Year of Operations

· 83 per cent load factor for the month of June marks fourth consecutive month

-on-month increase

· Ancillary revenue of over $100 per passenger in June

· Successful start-up of London to LA and Rome to New York in the month

· Additional third weekly frequency announced between Oslo and Bangkok for the

winter peak season

· Norse Atlantic Airways celebrated one year since first flight while

concluding a record-breaking month of sales

Arendal, 6[th] July 2023: Norse Atlantic proudly celebrated the first

anniversary of its inaugural flight between Oslo and New York on June 14th,

marking a remarkable year of connecting Europe to the US and making travel more

accessible than ever before. Since the first commercial flight 12 months ago

Norse Atlantic Airways has ramped up operations and is now serving 12

destinations across Europe and the United States and employs over 1000 people

across Norway, France, the UK and the US. In that time the airline has carried

well over half a million passengers.

In June the Company celebrated the inaugural flight from London to Los Angeles

and as of now Norse Atlantic is the largest long haul operator to the US from

the London airport and now has six Boeing 787 Dreamliner aircraft based in the

UK. In addition, Norse Atlantic's first flight between Rome and New York JFK

took to the skies on 19[th] June; the daily service will operate throughout the

summer season and is already available for sale from 28[th] March 2024 onwards.

Norse Atlantic Airways announced a third weekly departure between Oslo and

Bangkok, which the airline will now operate services between on Tuesdays,

Thursdays and Saturdays during the winter. The additional service on a Tuesday

will operate between 19[th] December 2023 to 9[th] January 2024 and 19[th] March

2024 to 9[th] April 2024.

"June marked a special month for Norse Atlantic as we celebrated one year of

flights operations. This milestone not only reflected the hard work and

dedication of our entire team but also highlighted the growing demand for

affordable, high-quality transatlantic travel. We now have all 15 aircraft in

our fleet operating, ten directly for Norse Atlantic and five subleased until

summer 2024.

Our load factor continues to grow and as we head into the peak summer season we

expect this trend to continue. I am especially pleased that in June we recorded

well in excess of $100 in ancillary revenue per passenger. We believe this is an

industry leading achievement and clearly demonstrates that passengers prefer to

choose the options that are relevant to them when they travel as opposed to

traditional carriers that include a premium charge in their base fares for

services that passengers do not need," said Bjorn Tore Larsen, CEO Norse

Atlantic Airways.

During June, Norse Atlantic Airways recorded an aggregate load factor for the

month of 83 per cent, an increase of 10 per centage points compared to the

previous month and the fourth month in row that the company has recorded an

increase in load factor. Norse Atlantic Airways operated a total 351 flights,

while Available Seat Kilometres (ASK) was up 47% versus the prior month as the

company increased production as planned. 50% per cent of operated flights

arrived within 15 minutes of the scheduled arrival time. The company operated

100% per cent of scheduled flights. Norse Atlantic carried 97,037 passengers in

June.

Key traffic figures for June are attached.

Contacts:

Investors: CFO, Anders Jomaas, Anders.Jomaas@flynorse.com

Media: SVP Communications, Philip Allport, philip.allport@flynorse.com