Reference is made to theNorwegian Air Shuttle ASA (the "Company") FRN perpetual subordinated convertible bond loan with ISIN NO 0010996440 and ISIN NO 0010996432 in the aggregate amount of 1,875,000,000 (the "New Capital Perpetual Bonds"). Pursuant to the bond terms, the New Capital Perpetual Bonds with ISIN NO 0010996440 in the aggregate amount ofNOK 1,738,293,310 can be converted into shares from the date falling on the second anniversary of the issue date (the "Ordinary Conversion Bonds") and the New Capital Perpetual Bonds with ISIN NO 0010996432 in the aggregate amount ofNOK 136,706,690 are convertible into shares from the issue date, being26 May 2021 (the "Early Conversion Bonds"). The New Capital Perpetual Bonds were issued as a part of the capital raise being prescribed under the scheme of arrangement for the financial restructuring of the Company and certain of its Irish subsidiaries, which was implemented on26 May 2021 through an Irish examinership process and a Norwegian reconstruction process. For further details, please see the stock exchange announcement on11 March 2021 ,3 May 2021 and26 May 2021 . The Company has received conversion notices from bondholders representingNOK 42,018,277 Early Conversion Bonds, which pursuant to standard terms set out in the bond terms are convertible into 4,474,787 new shares in the Company. Following the conversion, the Company has New Capital Perpetual Bonds in issue in the nominal amount ofNOK 1,832,981,723 , of whichNOK 1,738,293,310 constitute Ordinary Conversion Bonds andNOK 94,688,413 constitute Early Conversion Bonds. The remaining New Capital Perpetual Bonds may be converted into approximately 195 million shares in the Company at a conversion price ofNOK 9.39 , subject to anti-dilution provisions. The Company's share capital is increased byNOK 447,478.70 by issue of 4,474,787 new shares. The increase pertaining to the conversion of the Early Conversion Bonds has today been registered in theNorwegian Register ofBusiness Enterprises (Nw.: Foretaksregisteret). The Company's new share capital isNOK 70,572,964.10 divided into 705,729,641 shares, each with a nominal value ofNOK 0.10 . Issuance of the new shares in the VPS is expected to take place later today. For further information, please contact: Tore Østby, EVP Strategic Development, phone: +47 995 464 00 Important information This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations atNorwegian Air Shuttle ASA , tel. +47 995 46 400. The release is not for publication or distribution, in whole or in part directly or indirectly, in or intoAustralia ,Canada ,Japan orthe United States (including its territories and possessions, any state ofthe United States and theDistrict of Columbia ) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, inthe United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold inthe United States except pursuant to an exemption from the registration requirements of the US Securities Act. This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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