Norwegian Air Shuttle ASA

Earnings Release • Aug 6, 2025

Norwegian Air Shuttle TRAFFIC FIGURES JULY 2025

In July, Norwegian's capacity was 1% higher than July last year and 12% higher compared to the previous month. The load factor was 92.4%, down 0.2 p.p. from the same period last year. On average, Norwegian operated 90 aircraft during July.

Compared to the same period last year:

ASK: 4,129m

Total capacity (ASK) increased 1%

RPK: 3,813m Total passenger traffic (RPK) increased 1%

66 grams per RPK, 0.5% higher CO²

Load Factor

Load factor this month decreased 0.2 p.p.

Total number of passengers was 2,566,235, an increase of 1%

TRAFFIC DEVELOPMENT

July	Jul-25	Jul-24	Change
ASK (million)	4,129	4,068	1 %
RPK (million)	3,813	3,765	1 %
Load factor	92.4 %	92.6 %	-0.2 p.p.
Passengers	2,566,235	2,530,513	1 %
Traffic 12-month rolling	Jul-25	Jul-24	Change
ASK (million)	37,740	34,474	9 %
RPK (million)	32,188	29,261	10 %
Load factor	85.3 %	84.9 %	0.4 p.p.
Passengers	23,042,818	21,688,627	6 %

PASSENGER REVENUES (ESTIMATE)

July	Jul-25	Jul-24	Change
Yield – total	1.09	1.04	4 %
Unit revenue – total	1.00	0.96	4 %

OPERATING PERFORMANCE

July	Jul-25	Jul-24	Change
Regularity	99.2	99.5	-0.3
	%	%	p.p.
Punctuality	73.2	67.6	5.6
	%	%	p.p.
CO2	66	66	0.5
per RPK	g	g	%

OPERATING PERFORMANCE

this month

FUEL HEDGE POSITIONS

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

	Volume (mt)	Price (USD/mt)
Q3 2025	161,950	731
Q4 2025	105,600	727
2026	172,800	692
2027	23,800	668

Widerøe's Flyveselskap TRAFFIC FIGURES JULY 2025

In July, Widerøe's capacity was 0,3% lower than July last year and 4% higher compared to the previous month. The load factor was 81.4%, down 2.2 p.p. from the same period last year.

Compared to the same period last year:

Total capacity (ASK) decreased 0.3% Total passenger traffic (RPK) decreased 3% RPK: 163m ASK: 200m

33 kg per seat, 8.5% lower CO²

Load Factor

Load factor this month decreased 2.2 p.p.

Total number of passengers was 362,337, an increase of 9%

TRAFFIC DEVELOPMENT

July	Jul-25	Jul-24	Change
ASK (million)	200	201	-0.3 %
RPK (million)	163	168	-3 %
Load factor	81.4 %	83.6 %	-2.2 p.p.
Passengers	362,337	331,416	9 %
Traffic 12-month rolling	Jul-25	Jul-24	Change
ASK (million)	2,119	2,063	3 %
RPK (million)	1,560	1,449	8 %
Load factor	73.6 %	70.2 %	3.4 p.p.
Passengers	4,042,945	3,594,749	12 %

PASSENGER REVENUES (ESTIMATE)

July	Jul-25	Jul-24	Change
Yield – total	3.81	3.42	11 %
Unit revenue – total	3.10	2.86	8 %

OPERATING PERFORMANCE

July	Jul-25	Jul-24	Change
Regularity	97.6	96.0	1.6
	%	%	p.p.
Punctuality	89.3	89.8	-0.5
	%	%	p.p.
CO2	33	36	-8.5
per seat	kg	kg	%

OPERATING PERFORMANCE

FUEL HEDGE POSITIONS

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

	Volume (mt)	Price (NOK/mt)
Q3 2025	10,850	8,354
Q4 2025	10,600	8,219
2026	33,150	7,830
2027	20,150	7,950
2028	7,950	7,445

ITEM	DESCRIPTION
ASK	Available seat kilometres. Number of available passenger seats multiplied by flight distance
CO2 per RPK	Amount of CO2 emissions divided by RPK
CO2 per seat	Amount of CO2 emissions divided by available seats
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 – total revenue	Passenger ticket revenue and flight related ancillary revenue divided by RPK. A measure of average passenger revenue per kilometre. Includes compensation for PSO routes for Widerøe Flyveselskap
Unit revenue – total	Passenger ticket revenue and flight related ancillary revenue divided by ASK. A measure of average passenger revenue per available seat kilometre. Includes compensation for PSO routes for Widerøe Flyveselskap