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Norwegian Air Shuttle ASA

Major Shareholding Notification • May 12, 2025

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Major Shareholding Notification

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Norwegian Air Shuttle ASA (NAS): Disclosure of large holdings

The Norwegian state, represented by the Norwegian Ministry of Trade, Industry and Fisheries ("NMTIF") has today submitted a conversion notice in relation to the subordinated convertible perpetual bonds with ISINs NO0010996440, NO0010996432, NO0011157331 and NO0011157331 issued by Norwegian Air Shuttle ASA ("NAS"), whereby NMTIF will receive 65,582,436 newly issued shares in NAS, equal to 6.37% of the shares and votes in NAS on a fully diluted basis.

Delivery of the shares is, pursuant to the terms of the Bonds, required to take place no later than 27 May 2025.