Press release - 16 February 2012 07:30

Norwegian Fourth Quarter Results 2011

Fourth quarter revenue up by 18.2 % to MNOK 2,536.4 (2,145.4).

Earnings before depreciation and leasing (EBITDAR) in the fourth quarter were MNOK 216.1 (214.0).

Earnings before depreciation (EBITDA) in the fourth quarter were MNOK 1.7 (14.2).

Net result after tax in the fourth quarter was MNOK -133.3 (-23.6).

Ancillary revenue per passenger down 5 % in the fourth quarter. Ancillary revenue per scheduled passenger was equivalent to last year.

The number of passengers in the fourth quarter was 3.99 mill. (+20%).

Unit cost was NOK 0.46 in the fourth quarter compared to NOK 0.47 in the fourth quarter last year. Unit cost excluding fuel and effects from other losses and gains was NOK 0.33 in the fourth quarter compared to NOK 0.36 in the fourth quarter last year.

Unit cost for aviation fuel expense up 21% from 0.11 in fourth quarter 2010 to 0.14 in 2011. Gross realized fuel price per ton up 36% in fourth quarter compared to fourth quarter last year.

Pre-delivery payment financing facilities of MNOK 600 was arranged and closed during fourth quarter 2011. The facilities cover pre-delivery payments on aircraft delivering during 2012 to 2014.

Cash and money market deposits of MNOK 1,105 (1,178) as of 31.12.11.

Cash flow from operating activities in the fourth quarter was MNOK -73 (158).

Events after the reporting date; 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, presentation and press release.

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Press contact Norwegian Press Office press@norwegian.com +47 815 11 816

Marketing/sponsorhip requests: marketing@norwegian.com

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

Kraftig passasjervekst, fulle fly og flåtefornyelse preger Norwegians årsresultat

Norwegian hadde en passasjervekst på 20 prosent og fløy 15,7 millioner passasjerer i 2011. Fyllingsgraden gikk opp med 2 prosentpoeng, til 79 prosent. Fjoråret er også preget av at mange fabrikknye fly ble faset inn, med bedre resultatmargin og inntjening, samt en drivstoffbesparelse på hele 153 millioner kroner takket være flåteutskiftingen.

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.