Norse Atlantic ASA

Wet lease agreement between Norse and Interglobe Aviation Limited ("IndiGo")

Reference is made to the stock exchange announcement published by Norse Atlantic

ASA (the "Company") on 6 February regarding the entering into of a wet lease

agreement for one aircraft with the Indian airline IndiGo.

Today the Company has signed a firm wet lease agreement (the "Agreement") for

additional three - 3 - aircraft with IndiGo.

The additional three aircraft are expected to start operations from second half

of 2025 serving long haul routes out of India. The initial term of the Agreement

is six months, extendable to up to 18 months, subject to regulatory approvals.

Both Parties remain committed to explore opportunities to further extend this

period, subject to regulatory approvals. The delivery of the first aircraft is

on track and scheduled to start wet lease operations from 1st March servicing

IndiGo's Delhi - Bangkok route.

Norse and Indigo continue exploring opportunities to increase their

collaboration further.

The commercial terms of the wet lease agreements are in line with what was

communicated by the Company in the announcement of the LOI on 29 November 2024.

IndiGo is the largest airline in India by passengers carried and fleet size, it

is also one of the largest individual airlines in Asia and the world, both in

terms of passengers carried, fleet size and market cap. In 2024 IndiGo carried

more than 113 million passengers. Currently IndiGo operates primarily domestic

and regional short to medium haul services out of India but are in the process

of expanding its global reach by adding long haul services. To support its long

haul expansion IndiGo has placed a firm order for 30 Airbus 350-900 wide body

aircraft with an option for additional 70 aircraft, with deliveries expected to

commence from 2027.

Investor contacts: Anders Hall Jomaas, CFO, [email protected]

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation (MAR) and is subject to the disclosure requirements

pursuant to MAR article 17 and the Norwegian Securities Trading Act section 5

-12.

This stock exchange announcement was published by Anders Hall Jomaas on the time

and date provided.

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