Norwegian Air Shuttle ASA

Earnings Release • Mar 6, 2023

Norwegian Air Shuttle ASA TRAFFIC FIGURES FEBRUARY 2023

In February, the capacity was 68% higher than February last year and down 2% compared to the previous month. The load factor was 84%, up 3 p.p. from the same period last year. On average, Norwegian operated 64 aircraft during February.

Compared to the same period last year:

ASK: 1,826m

Total capacity (ASK) increased 68%

RPK: 1,530m

Total passenger traffic (RPK) increased 73%

77 grams per RPK, unchanged CO2

Load Factor

83.8%

Load factor this month increased 3 p.p.

Total number of passengers was 1,173,408, an increase of 83%

TRAFFIC DEVELOPMENT

February	Feb-23	Feb-22	Change
ASK (million)	1,826	1,089	68 %
RPK (million)	1,530	882	73 %
Load factor	83.8 %	81.0 %	3 p.p.
Passengers	1,173,408	640,972	83 %
Traffic 12-month rolling	Feb-23	Feb-22	Change
ASK (million)	28,691	11,565	148 %
RPK (million)	23,956	8,558	180 %
Load factor	83.5 %	74.0 %	10 p.p.
Passengers	18,869,445	7,333,406	157 %

PASSENGER REVENUES (ESTIMATE)

February	Feb-23	Feb-22	Change
Yield – ticket revenue	0.64	0.50	28 %
Yield – total	0.77	0.63	22 %
Unit revenue – ticket	0.54	0.41	32 %
Unit revenue – total	0.64	0.51	27 %

OPERATING PERFORMANCE

February	Feb-23	Feb-22	Change
Regularity	99.4	99.8	-0.4
	%	%	p.p.
Punctuality	85.4	87.8	-2.4
	%	%	p.p.
CO2	77	77	0 %
per RPK	g	g

OPERATING PERFORMANCE

Scheduled flights that operated this month

FUEL HEDGE POSITIONS

The group has hedged jet fuel for the following volume and price as per month-end:

	Volume (mt)	Price (USD/mt)
Q1 2023	17,600	903
Q2 2023	55,800	878
2H 2023	113,200	865
2024	41,000	801

Norwegian Air Shuttle ASA investor.relations@norwegian.com ● www.norwegian.com

ITEM	DESCRIPTION
ASK	Available seat kilometres. Number of available passenger seats multiplied by flight distance
CO2 per RPK	Amount of CO2 emssions divided by RPK
Load Factor	RPK divided by ASK. A measure of utilisation of available seats
Punctuality	Share of flights departing on schedule
Regularity	Share of scheduled flights taking place
RPK	Revenue passenger kilometres. Number of sold seats multiplied by flight distance
Yield – ticket revenue	Passenger ticket revenue divided by RPK. A measure of average fare per kilometre
Yield – total revenue	Passenger ticket revenue and flight related ancillary revenue divided by RPK. A measure of average passenger revenue per kilometre
Unit revenue – ticket	Passenger ticket revenue divided by ASK
Unit revenue – total	Passenger ticket revenue and flight related ancillary revenue divided by ASK