Norwegian Air Shuttle ASA — Capital/Financing Update 2021

Mar 12, 2021

Norwegian Air Shuttle ASA (NAS) – Summons to bondholders’ written resolution

Norwegian Air Shuttle ASA (NAS) – Summons to bondholders’ written resolution

Norwegian Air Shuttle ASA (the “Company" or the “Issuer") has today requested Nordic Trustee as the trustee for the outstanding bonds NAS07 and NAS08 to summon bondholders’ written resolution with the aim to approve a proposal to amend the bond terms.

The Issuer is approaching the bondholders as a consequence of the schemes of arrangement for the financial restructuring of the Company and certain Irish subsidiaries of the Group, as announced in the stock exchange announcement 11 March 2021 (the “Restructuring Proposal”). The requested amendments reflects the modelled business plan, the effect of the schemes of arrangement relating to the Irish Examinership and the Norwegian Reconstruction and takes into account the value of the security interest under the NAS07 and NAS08 bonds.

The envisaged amendments are described in detail in the summons to bondholders’ written resolution.

Fornebu, 11 March 2021

Norwegian Air Shuttle ASA

This information is subject of the disclosure requirements according to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development at Norwegian Air Shuttle ASA, tel +47 995 46 400.