Arendal, Norway, 27 October 2025: Reference is made to the stock exchange announcement by Norse Atlantic ASA (the "Company") earlier today regarding the completion of a private placement of 14,780,242 new shares in the Company at a subscription price of NOK 7.6938 per share (the "Subscription Price"), raising gross proceeds of approximately NOK 113.7 million (the "Private Placement").

The following close associates of persons discharging managerial responsibilities have been allocated shares in the Private Placement:

B T Larsen & Co Ltd, a company closely associated with and controlled by Bjørn Tore Larsen, the CEO of the Company, was allocated 4,354,980 new shares in the Private Placement at the Subscription Price. Following the Private Placement, B T Larsen & Co Ltd will hold in total 47,904,781 shares in the Company, corresponding to 29.46% of the total share capital; and

Songa Capital AS, a company closely associated with board member Felix Fürst, was allocated 1,500,000 new shares in the Private Placement at the Subscription Price. Following the Private Placement, Songa Capital AS will hold in total 14,461,330 shares in the Company, corresponding to 8.89% of the total share capital.

Please see the attached notification forms for further details about the transactions.

Contacts:

Investors: CFO, Anders Hall Jomaas, anders.jomaas@flynorse.com

This information is subject to the disclosure requirements in articles 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.