Norse Atlantic ASA

Earnings Release • Feb 7, 2025

Norse continues record high load factor

For the second successive month Norse Atlantic Airways recorded a load factor of 94%, equaling its highest ever load factor, and representing a 30-percentage point increase from 64% in the same month the year before. The Company operated 377 flights and transported 111,543 passengers across its network and ACMI/charter operations, a 71% increase in passenger numbers compared to the same period last year. 70% of the flights departed within 15 minutes of their scheduled departure time, compared to 80% the same month last year. ACMI/charter services saw large growth, with 140 flights operated in January 2025 compared to 23 flights in January 2024.

KEY FIGURES JANUARY 2025 *compared year on year	Load Factor 94% 30 p.p.	ASK (millions) 810 14%	RPK (millions) 763 67%
Passengers 111,543 71%	Flights 377 20%	Completion 100% -	Punctuality 70% 10 p.p.

ASK (Available Seat Kilometers): Number of available passenger seats multiplied by flight distance. | Completion: Percentage of scheduled flights that operated. | LF (Load Factor): A measure of how efficiently seats are filled, found by dividing RPK by ASK.| Punctuality: Aircraft departed within 15 minutes of the scheduled departure time. Indicates on time performance.| RPK (Revenue Passenger Kilometers): Number of sold seats multiplied by flight distance.