Norwegian Air Shuttle ASA

Capital/Financing Update • Jun 5, 2025

Norwegian Air Shuttle ASA (NAS) - Conversion of New Capital Perpetual Bonds - New share capital registered

Norwegian Air Shuttle ASA (NAS) - Conversion of New Capital Perpetual Bonds - New share capital registered

Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440, ISIN NO 0010996432, ISIN NO 0011157331 and ISIN NO 0011157356 in the outstanding amount of NOK 80,503,908 (the "New Capital Perpetual Bonds").

The Company has received conversion notices from bondholders representing NOK 77,748,596, which pursuant to standard terms set out in the bond terms are convertible into 8,279,928 new shares in the Company.

Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount of NOK 2,755,312. The remaining New Capital Perpetual Bonds will be repaid in accordance with the terms set out in the previously announced call notice, at a price equal to 103 per cent of the Nominal Value plus accrued and unpaid interest, with the repayment date on 11 June 2025.

The Company’s share capital is increased by NOK 827,992.80 by issue of 8,279,928 shares. The capital increase pertaining to the conversion of the New Capital Perpetual Bonds has today been registered in the Norwegian Register of Business Enterprises (Norwegian: Foretaksregisteret). The Company’s new share capital is NOK 105,523,891.90 divided into 1,055,238,919 shares, each with a nominal value of NOK 0.10.

Issuance of the new shares in the VPS is expected to take place later today.

For further information, please contact:

Hans-Jørgen Wibstad, CFO at Norwegian Air Shuttle ASA, Tel: +47 916 89 661

Fornebu, 5 June 2025

Norwegian Air Shuttle ASA

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.