Norse Atlantic ASA

Earnings Release • Jun 12, 2023

­­Norse May operational update - Load factor continues to rise month on month as the airline enters significant ramp up period

­­Norse May operational update - Load factor continues to rise month on month as the airline enters significant ramp up period

· 73 per cent load factor for the month of May marks third consecutive month on

month increase.

· Miami announced as a new destination serving London and Oslo from 18[th]

September.

· Norse Atlantic Airways is operationally ready to deliver an increased

production over the peak summer season.

Arendal, 12[th] June 2023: Norse Atlantic Airways announced Miami as a new

destination serving both London and Oslo from 18[th] September. Miami has high

levels of both direct and connecting passenger traffic and a well-developed

cargo facility that will allow the airline to maximise the potential of the

company's Boeing 787 Dreamliner fleet operating on the route.

During the month of May the company celebrated two inaugurals from London with

the launch of services to Orlando and Fort Lauderdale. At London Gatwick the

airline now operates three services to the US out of seven open for sale and by

1st July will become the largest long haul operator to the US from the London

airport as flights to Los Angeles and San Francisco take to the skies.

"We are very pleased to report that May was our third highest load factor since

operations began and to see a month on month increase for the third consecutive

month. We have worked hard to ensure a robust operation and sufficient crew

numbers to deliver a significant ramp up in production for the peak summer

months and we are looking forward to welcoming on board an increasing number of

passengers during this period.

As we celebrate the first full year of flight operations on 14[th] June we can

look ahead with pride and a great sense of achievement as we will now have a

fully operational fleet serving 12 destinations throughout the summer 2023

season - five European cities connected to seven key US destinations. We remain

committed to delivering on our pledge to become the world's first profitable low

cost long haul airline," said Bjorn Tore Larsen, CEO Norse Atlantic Airways.

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

month of 73 per cent, including charter operations, an increase of six per

centage points compared to the previous month and the third month in row that

the company has recorded an increase in load factor. Norse Atlantic Airways

operated a total 243 flights. 80 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 58,680 passengers in May.

Key traffic figures for May are attached.

Contacts:

Investors: CFO, Ben Boiling, ben.boiling@flynorse.com

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

Norse Atlantic Airways is a new airline that offers affordable fares on long

-haul flights 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 will serve destinations including New York, Los Angeles, Fort

Lauderdale, Orlando, Boston, San Francisco, Washington DC, Miami, Oslo, London,

Rome, Berlin and Paris. The Company's first flight took off from Oslo to New

York on June 14, 2022.