NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTOTHE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Reference is made to the stock exchange announcement ofNorwegian Air Shuttle ASA (the "Company" or "NAS") dated25 May 2021 regarding the final results of the capital raise (consisting of a new capital perpetual bonds offering, a private placement and a rights issue) raising gross proceeds of approximatelyNOK 6,000 million by issuing 658,945,686 new shares (the "New Shares") and new capital perpetual bonds in the Company (the "New Capital Perpetual Bonds"). Further reference is made to the stock exchange announcement of11 March 2021 regarding the launch of a scheme for an exit from the Irish examinership (the "Examinership") and Norwegian reconstruction (the "Reconstruction") processes for the Company and certain of its related Irish companies (the "Examinership Companies") and proposed schemes of arrangement related to the Examinership and a restructuring plan related to the Reconstruction (as further set out therein and together the "Restructuring Proposal") and the stock exchange announcement published by the Company earlier today regarding the occurrence of the Effective Date (as defined in the Restructuring Proposal). The share capital increases pertaining to the rights issue and the private placement have now been registered in theNorwegian Register ofBusiness Enterprises (Nw. Foretaksregisteret). The Company's new share capital isNOK 70,125,485.40 , divided into 701,254,854 shares, each with a nominal value ofNOK 0.10 . The new shares issued in the rights issue are expected to be registered on the respective subscribers' VPS accounts on or around28 May 2021 and will be listed and tradable on theOslo Stock Exchange on or about27 May 2021 , subject however to the relevant subscriber having paid the subscription amount. The new shares issued in the institutional offering of the private placement are expected to be delivered to the respective investors on a delivery versus payment basis on or around27 May 2021 , whereas the new shares issued in the eligible creditor offering of the private placement are expected to be delivered to the respective investor on or around28 May 2021 , subject however to the relevant investor having properly paid for the allocated shares in accordance with the procedures set out in the securities note dated6 May 2021 . Furthermore, the issuance of the convertible loan pertaining to the New Capital Perpetual Bonds has today been registered with the NRBE. Consequently, the Effective Time (as defined in the Restructuring Proposal) has occurred and the Company and the Examinership Companies have successfully emerged from the Examinership and the Reconstruction. Advisors:DNB Markets , a part ofDNB Bank ASA , is acting as Sole Global Coordinator and Joint Bookrunner for the Capital Raise andABG Sundal Collier ASA is acting as Joint Bookrunner (jointly the "Managers").Seabury Securities ltd serves as financial advisor for the Capital Raise and Lead Financial Restructuring Advisor.Advokatfirmaet BAHR AS is acting as lead legal counsel to the Company for the overall financial restructuring and the capital raise,Matheson is acting as legal counsel to the Company inIreland , Weil Gotshal & Manges is acting as legal counsel to the Company in theUSA .Advokatfirmaet Thommessen AS is acting as legal counsel to the Managers. For further information, please contact:Geir Karlsen , Chief Financial Officer, phone: +47 916 08 332 Fornebu26 May 2021 Norwegian Air Shuttle ASA IMPORTANT INFORMATION This release is an announcement issued pursuant to legal information obligations and is subject of the disclosure requirements, 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 ). This release is an announcement issued pursuant to legal information obligations and is subject to 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. The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting exclusively for the Company and no one else in connection with the Capital Raise and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the offering and/or any other matter referred to in this release. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. No assurance can be given that such expectations will prove to have been correct. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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