Press release -

Capital Increase in Norwegian: Positioning for further growth

The Board of Directors of Norwegian Air Shuttle ASA has resolved to issue up to 1,620,000 new shares, which corresponds to approximately 5 percent of the shares outstanding. Based on today's closing quote on the Oslo Stock Exchange, the share issue will raise NOK 250 - 260 million. The proceeds will strengthen the company's balance sheet and position Norwegian well for future growth opportunities.

- We see new opportunities ahead. This combined with Norwegian's positive development makes the timing good for strengthening the company's financial position and flexibility even further, says CEO Bjørn Kjos.

HBK Invest AS, a company controlled by Norwegian's CEO Bjørn Kjos and Chairman of the Board Bjørn Kise, will reduce its holding in Norwegian from approximately 32 percent to approximately 29 percent.

- Norwegian has reached a size where I find it natural to open up for new investors, both Norwegian and international ones. The goal is to build a strong and committed investor base for further expansion. In addition, more available shares will make the share more attractive, says Kjos.

For stock marked announcement, follow the link below:

http://www.newsweb.no/newsweb/search.do?messageId=248527

Contacts:

SVP Corporate Communications Anne-Sissel Skånvik, tel +47 48 99 44 40

CFO Frode Foss, tel + 47 91 63 16 45

Contacts

For journalists only

For journalists only

Press contact Norwegian Press Office +47 815 11 816
Marketing/sponsorhip requests: marketing@norwegian.com

Marketing/sponsorhip requests: marketing@norwegian.com

Press contact Marketing/sponsorship requests: marketing@norwegian.com

Related media

Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.

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