Norse Atlantic ASA

Share Issue/Capital Change • Dec 12, 2022

Norse Atlantic ASA: New share capital and nominal value registered

Norse Atlantic ASA: New share capital and nominal value registered

Arendal, 12 December 2022: Reference is made to the stock exchange notice by

Norse Atlantic ASA (the "Company") on 9 December 2022 regarding the completion

of an extraordinary general meeting in the Company (the "EGM"). The EGM resolved

to, inter alia, (i) decrease the Company's share capital by decrease of the

nominal value of the Company's shares from NOK 3.00 to NOK 1.25, (ii) to carry

out a share capital increase of NOK 150,000,000 by issuance of 120,000,000 new

shares (the "Offer Shares"), each with a nominal value of NOK 1.25, in a private

placement and (iii) to carry out a share capital increase of NOK 10,500,000 by

issuance of 8,400,000 new shares (the "UWC Shares"), each with a nominal value

of NOK 1.25, in a private placement by debt conversion.

The share capital decrease and the share capital increases pertaining to the

issuance of the Offer Shares and UWC Shares have now been registered with the

Norwegian Register of Business Enterprises:

Share capital: NOK 257,605,392.50

Total number of shares: 206,084,314

Nominal value per share: NOK 1.25

The Offer Shares and UWC Shares are tradeable on Euronext Growth Oslo as of this

notice. Settlement of the Offer Shares will take place on a delivery versus

payment (DVP) basis on 14 December 2022. Settlement of the UWC Shares will take

place on a free of payment (FOP) basis on 14 December 2022.

For further information, please contact:

Ben Boiling, Chief Financial Officer

Phone: +47 912 40 945

Email: ben.boiling@flynorse.com

About Norse

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

-haul flights, primarily 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, Oslo, London, Berlin and Paris. The company's first

flight took off from Oslo to New York on June 14, 2022.

This information is subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act and the Euronext Rule Book part II.