Norse Atlantic ASA

Earnings Release • Mar 10, 2023

­­Norse February operational update - Record results in February with complete summer schedule available for sale between Europe and the US

­­Norse February operational update - Record results in February with complete summer schedule available for sale between Europe and the US

· Completed the launch of the company's full summer schedule featuring six new

destinations from London Gatwick to the US, bringing the total number of routes

served to seven.

· Norse Atlantic is now the number one airline serving the US from London

Gatwick, with Los Angeles, San Francisco, Boston, Washington D.C., Orlando and

Fort Lauderdale joining New York.

· From New York JFK the airline will serve five European destinations this

summer, including Rome, Paris, Berlin, Oslo and London.

· In total Norse Atlantic will operate 13 routes between Europe and the US

this summer.

· Making significant progress toward becoming the industry's first successful

long haul, low cost airline

Arendal, 10[th] March 2023: During February Norse Atlantic Airways completed the

launch of the company's full summer schedule featuring six new destinations from

London Gatwick to the US, bringing the total number of routes served to seven.

Norse Atlantic is now the number one airline serving the US from London Gatwick,

with Los Angeles, San Francisco, Boston, Washington D.C., Orlando and Fort

Lauderdale joining New York. From New York JFK the airline will serve five

European destinations this summer, including Rome, Paris, Berlin, Oslo and

London. In total Norse Atlantic will operate 13 routes between Europe and the US

this summer.

The month of February marked a milestone for Norse Atlantic Airways as record

ticket sales combined with a focus on ancillaries led to the most successful

month in the company's history. Norse Atlantic Airways continues to be on track

to deliver on the previously announced business plan and to be profitable by the

end of 2023.

"We are very pleased to now be able to offer customers our full summer flight

schedule. Demand since launch has been very encouraging and we expect a busy

summer season. In February Norse Atlantic broke multiple revenue, ticket sales

and website visit records and we are seeing strong booking volumes across our

network for the summer period with flights to and from London to the US proving

to be particularly popular during the peak months. Our planning team is now

shifting its focus from summer to winter, as our business matures and we seek

longer selling windows. We look forward to sharing initial winter plans with an

emphasis on sun destinations towards the end of March," said Bjorn Tore Larsen,

CEO Norse Atlantic Airways.

During February, Norse Atlantic Airways recorded an aggregate load factor for

the month of 50 per cent, including charter operations. Norse Atlantic Airways

operated a total 203 flights. 80 per cent of operated flights arrived within 15

minutes of the scheduled arrival time, an improvement of six per cent compared

to the previous month. The company operated 98 per cent of scheduled flights,

three round trips were cancelled due to the closure of New York JFK terminal 1

over multiple days related to a fire at the facility. Norse Atlantic carried

32,970 passengers in February.

Key traffic figures for February 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, Oslo, London, Rome,

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

June 14, 2022.