Norwegian Air Shuttle ASA — Major Shareholding Notification 2021

May 25, 2021

DISCLOSURE OF LARGE SHAREHOLDING

DISCLOSURE OF LARGE SHAREHOLDING

Geveran Trading Co. Limited ("Geveran"), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 25 May 2021 been allocated 139,776,357 shares in the Private Placement of new shares in Norwegian Air Shuttle ASA ("NAS"). The shares in the Private Placement are applied for and have been allocated at a price of NOK 6.26 per share.

Following the allocation of the new shares in the Private Placement, Geveran owns 139,776,357 shares, representing 19.94% of the outstanding share capital and voting rights in NAS, and has thereby triggered the 15% threshold. The foregoing calculations are based on 700,998,158 outstanding shares in NAS after the issuance of the new shares in the Private Placement and the Rights Issue.

This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.