Publication of listing prospectus

Reference is made to the following perpetual bond issues (the “Perpetual Bonds”) of Norwegian Air Shuttle ASA (the “Company”):

(i) Norwegian Air Shuttle ASA perpetual 0% EUR convertible bond loan with ISIN NO 0010883416 in the aggregate amount of EUR 7,617,931;

(ii) Norwegian Air Shuttle ASA perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount of USD 80,956,203; and

(iii) Norwegian Air Shuttle ASA perpetual 0% SEK convertible bond loan with ISIN NO 0010883473 in the aggregate amount of SEK 13,593,553.

On 9 December 2020, the Company applied for the Perpetual Bonds to be admitted to stock exchange listing on Oslo Børs, subject to approval by the Norwegian Financial Supervisory Authority (“NFSA”) of a listing prospectus. Since such date, certain amounts of Perpetual Bonds have been converted into 1,414,987 shares in the Company (the “Shares”), which have been placed on a separate ISIN NO0010914823, pending approval of a listing prospectus pertaining to listing of the Perpetual Bonds and listing of the Shares (the “Listing Prospectus”) as set out in the Company’s stock exchange notices dated 11 December 2020 and 23 December 2020.

The NFSA has today approved the Listing Prospectus. For more information, please refer to the Listing Prospectus which will, subject to regulatory restrictions in certain jurisdictions, be available at the Company’s website, www.norwegian.no. The Listing Prospectus has been prepared for the purpose of listing of the Perpetual Bonds and the Shares only, and no securities are being offered pursuant to the Listing Prospectus.

The Shares will be transferred to and registered on the Company's ordinary ISIN NO0010196140 and become freely tradable on Oslo Børs tomorrow, 15 January 2021, under the trading symbol "NAS". The Perpetual Bonds are expected to commence trading on Oslo Børs on Monday 18 January 2021.

For further information, please contact:

Tore Østby, EVP Strategic Development, phone: +47 995 464 00