Geir Karlsen has been appointed new CEO of Norwegian Air Shuttle ASA
("Norwegian"). Karlsen succeeds Jacob Schram. The appointment will be effective
June 21st 2021.

"I am pleased to announce that Geir Karlsen on requet of the Board has accepted
the job as CEO of Norwegian. Karlsen has successfully led the financial
reconstruction of Norwegian and has the competencies, focus, trust and
dedication that makes him the best choice as CEO of Norwegian," said Svein
Harald Øygard, chairperson of Norwegian's Board of Directors.

"As travel bans now are about to be lifted, Norwegian stands ready to offer
thousands of flights to our customers in the Nordics and abroad. In parallel,
further efforts will be made to strengthen Norwegian´s position as a low-cost
airline and to return the company to sustainable profitability. Geir is the
ideal CEO to lead these efforts," said Øygard.

Karlsen (born 1965) has held the position of Chief Financial Officer (CFO) since
April 2018. From July 2019 to December 2019, he was Acting Chief Executive
Officer (CEO) of Norwegian. He has extensive experience from listed companies
within shipping and offshore. Mr. Karlsen has over the last 12 years held
various CFO positions at international companies such as Golden Ocean Group and
Songa Offshore. Before Norwegian, he held the position Group CFO at London-based
Navig8 Group, the world's largest independent pool and management company. Geir
Karlsen has a degree in Business Administration from BI Norwegian Business
School. 

"I appreciate the trust given by the Board of Directors, and I am pleased to
accept the opportunity of serving Norwegian in a new role as CEO. Going forward,
our main priorities will be to increase the profitability of our low-cost
operations and to attract new and existing customers in all key markets.
Norwegian is well positioned following the recent reconstruction of the company,
with a strong brand, proven products and services, and not least a team of
highly experienced colleagues ready to fight for every customer," said Geir
Karlsen, CEO of Norwegian.

The search for a new CFO will commence immediately.

The Board of Norwegian voted on June 20th to end the CEO tenure of Jacob Schram.
Mr. Schram's employment contract, signed in 2019, entitles him to nine months'
notice. He will support the Board on full-time basis during his notice period up
to March 31th, 2022. He will receive his current salary until then, and
thereafter a 15 month severance payment in monthly installments, as specified in
his employment contract of November 20th 2019. An effort has been made by the
Board to bring the severance payments to a level reflecting the challenges of
the industry, but no agreement could be reached.

Geir Karlsen will receive a salary of NOK 4.5 million, a bonus contingent on the
delivery of the 2021-2022 Business Plan and share options to be awarded based on
the share price at the end of day, June 21st 2021.


For further information, please contact:
Svein Harald Øygard, Chairperson; +47 90 02 40 09
Geir Karlsen, CEO; +47 91 60 83 32



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,
+47 995 46 400.

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