Reference is made to the previous stock exchange announcements by Norwegian Air
Shuttle ASA (the "Company"), regarding the public offering of new shares in the
Company, and the conversion of bond, lease and vendor debt into equity in the
Company and convertible perpetual bonds as further described in the Company’s
prospectus dated 5 May 2020 (the “Prospectus”) and subsequent announcements.

Certain amounts of shares and perpetual bonds that have been issued as described
in the abovementioned announcements are subject to lock-up regulations that
expire on 9 October 2020 or 9 December 2020. Accordingly, 897,345,343 Company
shares shall on 9 October 2020 be released from lock-up and transferred to the
Company’s ordinary ISIN NO0010196140.

In addition, perpetual bonds in a nominal amount of NOK 739,236,984 (including
amounts issued in other currencies exchanged into NOK at the fixed exchange rate
set out in the applicable perpetual bond agreements) shall on 9 October 2020 be
released from lock-up. Such perpetual bonds shall become transferrable and may
in the option of the holder be converted into approximately 173,971,269 ordinary
shares in the Company, subject to certain adjustment provisions including
Euro-market standard anti-dilution provisions. See section 5.5 of the Prospectus
and the stock exchange announcement of the Company dated 30 September 2020 for a
further description of the perpetual bonds.

For further information, please contact: 
Tore Østby, EVP Strategic Development, phone: +47 995 464 00



Important information 

The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan or the United States
(including its territories and possessions, any state of the United States and
the District of Columbia) or in any other jurisdiction where such publication or
distribution is unlawful. This release is an announcement issued pursuant to
legal information obligations, and is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued
for information purposes only, and does not constitute or form part of any offer
or solicitation to purchase or subscribe for securities, in the United States or
in any other jurisdiction. The securities mentioned herein have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the "US Securities Act"). The securities may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the US Securities Act.