Norse Atlantic ASA

Norse Atlantic ASA - additional information relating to delivery of offer shares, the reverse share split and change of ISIN

Arendal, 26 April 2023: Reference is made to the stock exchange announcement

published by Norse Atlantic ASA (the "Company") on 20 April 2023 regarding the

successful completion of a subsequent offer of 60,000,000 new shares ("Offer

Shares") in the Company (the "Subsequent Offering"). Reference is further made

to the stock exchange announcement published by the Company on 21 April 2023

with key information relating to the upcoming reverse share split and change of

ISIN.

Following registration of the share capital increase pertaining to the issuance

of the Offer Shares with the Norwegian Register of Business Enterprises on 25

April 2023, the Offer Shares have been delivered to investors on ISIN

NO0012899907.

The Offer Shares are not expected to be tradable until on or around 28 April

2023 as a consequence of the technical completion of the reverse share split in

the VPS. Investors should further note that the reverse share split implies that

the Company's shares, including the Offer Shares, are consolidated in the ratio

4:1, whereby 4 shares are merged to 1 share.

No fractional shares will be issued in connection with the reverse share split.

Shareholders who do not hold a number for shares dividable by the ratio (4:1)

will have their shareholding rounded upwards to the nearest whole share.

Shareholder B T Larsen & Co Limited will transfer the required number of shares

so that all fractional shares may be rounded upwards to the nearest whole share.

It is expected that upwards rounding and settlement of fractional shares will be

completed on or around 2 May 2023 due to technical delays in the VPS system.

In connection with the reverse share split, the Company's shares, including the

Offer Shares, will all be transferred to a new ISIN (NO0012885252). The ISIN

change is expected to take place on 27 April 2023.

Pareto Securities AS and SpareBank 1 Markets AS may be contacted for information

regarding delivery of the shares in the Subsequent Offering.

For further information, please contact:

Ben Boiling, CFO

Phone: +47 912 40 945

About Norse Atlantic ASA:

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 serve destinations including New York, Los Angeles, Fort

Lauderdale, Orlando, Washington DC, San Francisco, Boston, Oslo, London, Berlin,

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

June 14, 2022.

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