Norse Atlantic ASA

Earnings Release • May 6, 2025

Norse Atlantic Remains Steady at Record-High Load Factor

In April, Norse Atlantic Airways recorded a load factor of 95%, again equaling its highest ever load factor achieved, and representing a 16 %-point increase from 79% in the same month the previous year. The load factor of own scheduled network stand-alone was 95%, compared to 76% in April 2024. The Company operated 499 flights and transported 155,813 passengers across its network and ACMI/charter operations, a 58% increase in passenger numbers compared to the same period the previous year. 71% of the flights departed within 15 minutes of their scheduled departure time, down 10%-points compared to the same month the previous year. On-time performance was negatively impacted by Air Traffic Control (ATC) delays and airport congestions. ACMI/charter services was on par with last year as 66 flights were operated in April 2025, compared to 61 flights in April 2024.

KEY FIGURES APRIL 2025 *compared year on year	Load Factor 95% 16 p.p.	ASK (millions) 1,175 36%	RPK (millions) 1,120 65%
Passengers 155,813 58%	Flights 499 25%	Completion 99.5% - 0.5 p.p.	Punctuality 71% - 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.