Norwegian Air Shuttle ASA

M&A Activity • Dec 21, 2023

Norwegian gets go-ahead to acquire Widerøe

Norwegian gets go-ahead to acquire Widerøe

The Norwegian Competition Authority (NCA) approved Norwegian's acquisition of Widerøe today. In July, Norwegian announced its intention to acquire Widerøe for a cash consideration of NOK 1,125 million subject to certain closing adjustments. The acquisition will give customers a stronger route offering, more flight options, and will help secure and develop jobs in Norway. For Norwegian, the transaction will enable the linking of complementary route networks, create significant operational synergies and add diversification through Widerøe’s PSO routes.

“We are very happy with today's decision from the NCA and that they have taken our inputs into account. The acquisition will give all our customers, those travelling within, from and into Norway, an improved route offering with more travel options, in addition to enabling seamless travel across our route networks. We will have a more efficient operation and ensure a strong aviation industry in Norway with local jobs and fair working conditions,” said Geir Karlsen, CEO of Norwegian.

"We are pleased that the NCA has chosen to take our input into account and are of course very happy that they now have approved the transaction. This has been a demanding case for both us and the NCA, with much documentation, and we have great respect for the work they have done. We are now looking forward to working together with Norwegian to offer better and more competitive travels for those who depend on air travel for their transportation needs," Stein Nilsen, CEO of Widerøe says.

"The acquisition will secure jobs in Norway with fair wage and working conditions, in addition to ensuring that critical public infrastructure remains in Norwegian ownership and that Widerøe remains as a separate airline and brand, headquartered in Bodø. I couldn't wish for a better Christmas present," says Nilsen.

Strengthened domestic and international air travel

Air travellers in Norway can look forward to improved connectivity to Widerøe's extensive regional route network and Norwegian's wide-ranging national and international network. Widerøe serves more than 40 small and medium-sized airports throughout Norway, in addition to some larger airports in Europe. Norwegian flies over 300 routes in the high season to more than 120 destinations throughout the Nordics and Europe. The Widerøe brand and operations will continue to exist as its own separate airline with its head office in Bodø, northern Norway.

For further information, please contact:

Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle ASA Tel: +47 906 64 401

Norwegian Air Shuttle ASA

Fornebu, 21 December 2023

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