The Norwegian Group reported the strongest quarterly results in group history in
the third quarter, with a profit before tax (EBT) of NOK 2,891 million an
operating profit (EBIT) of NOK 3,071 million. The quarter was characterised by
several important milestones, including the first-ever dividend, paid in August,
and the exercise of a purchase option to acquire 30 additional new Boeing
aircraft. 

During the third quarter, the Norwegian Group recorded an operating profit
(EBIT) of NOK 3,071 million. The operating margin was 25.1 percent. The
liquidity position decreased to NOK 10.5 billion at the end of the quarter.

"We are very pleased to once again report a record quarter. In August, we paid
our first-ever dividend of NOK 0.90 per share to approximately 75,000
shareholders. It has been a strong quarter overall, and I would like to thank
all my colleagues in both Widerøe and Norwegian for their outstanding efforts
during the busiest months of the year. Widerøe's record-breaking passenger
numbers also deserve recognition, which in September reached an all-time high in
the company's more than 90-year long history," said Geir Karlsen, CEO of
Norwegian.

In the third quarter, the Norwegian Group had 8.41 million passengers, of which
7.28 million were passengers of Norwegian and 1.12 million of Widerøe. The
quarterly load factor for Norwegian was 88.3 percent, up 0.3 percentage points
from last year, while Widerøe had a load factor of 77.5 percent, down 0.6
percentage points. Capacity increased 2 percent and 3 percent for Norwegian and
Widerøe respectively. The quarter also held solid operational performance from
both airlines. Widerøe stood out with 98.2 percent of scheduled flights taking
place and a punctuality of 91.8 percent. Norwegian had a punctuality of 77.8
percent, up 3.6 percentage points from last year, and 99.3 percent of scheduled
flights taking place. 

Fleet renewal and Denmark on the rise

During the quarter, Norwegian expanded the existing Boeing order by exercising
an option to purchase 30 additional Boeing 737 MAX 8 aircraft, increasing the
total firm order to 80 aircraft. 

"By exercising the Boeing purchase option, we maintain flexibility while
reinforcing our commitment to operating one of Europe's most modern and
fuel-efficient fleets. This is an important step in our ongoing fleet renewal
programme, and we are very pleased to further strengthen our long-term
partnership with Boeing," said Geir Karlsen.

October was an important month in Denmark, marked by several positive
developments. The month began strongly with the announcement of ten new
international routes from Billund airport. On the same day, Norwegian was named
"Best European Airline" at the Danish Travel Awards. A few days later, Norwegian
won the Danish government's tender for a domestic route aimed at reducing
climate impact. Under this agreement, 93 percent of Norwegian's flights between
Aalborg and Copenhagen will operate using at least 40 percent sustainable
aviation fuel (SAF) from March next year. The project is expected to save
approximately 6,700 tonnes of CO2 on a life-cycle basis.

Well prepared for the winter season

For the upcoming winter months, Norwegian has reduced the monthly capacity by
between 25 to 40 percent, compared to the October capacity. This is to better
align with demand during winter and optimise performance in the low season.

"We have an attractive route network in the winter season, well tailored to our
customers' needs. Booking trends are looking encouraging, and our customers are
booking their flights further in advance this year compared to previous years.
We have therefore sold more tickets this year, compared to the same time last
year, with reduced capacity. This bodes well for a busy winter season with high
load factors," said Geir Karlsen.

For detailed information, please see attached report and presentation.


For further information, please contact: 
Jesper M. Hatletveit, Investor Relations at Norwegian, Tel: +47 906 64 401


Fornebu, 22 October 2025
Norwegian Air Shuttle ASA


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Jesper M. Hatletveit, VP Investor Relations at
Norwegian Air Shuttle ASA, on 22 October 2025 at 07:00 CET/CEST.