Press release - 26 April 2012 07:30

Norwegian First Quarter Results 2012

First quarter revenue up by 25% to MNOK 2,360 (1,895).

RASK up 7% to 0.38, where yield was up 3% to 0.49 and load factor was up 3% to 77%.

Earnings before depreciation and leasing (EBITDAR) were MNOK -252 (-230).

Earnings before tax (EBT) were MNOK -398 (-406).

The number of passengers was 3.65 mill. (+19%).

Unit cost was NOK 0.54 (NOK 0.52), and unit cost excluding fuel and effects from other losses and gains was NOK 0.36 (NOK 0.37).

Gross realized fuel price per ton up 25%.

Cash and money market deposits of MNOK 1,487 (1,229) as of 31 March 2012.

Cash flow from operating activities was MNOK 544 (229).

Firm order of 222 new aircraft with an aggregated value at list price of approximately NOK 127 billion. The delivery of aircraft starts in 2016 and is supported by export credit agencies.

For further information please see the enclosed report and presentation.

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

Norwegian Reports First Quarter Results: Increased Revenue by 25 percent Compared to Previous Year

Norwegian (NAS) today reported its first quarter results. The company’s total revenue was 2.36 BNOK, up 25 percent compared to the same quarter previous year. The company’s net profit of - 286 MNOK was strongly influenced by high oil prices.

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.