Reference is made to the Norwegian Air Shuttle ASA (the "Company") FRN perpetual
subordinated convertible bond loan with ISIN NO 0010996440, ISIN NO 0010996432,
ISIN NO 0011157331 and ISIN NO 0011157356 in the outstanding amount of NOK
1,512,067,553 (the "New Capital Perpetual Bonds"). 

The Company has received conversion notices from bondholders representing NOK
11,052,496, which pursuant to standard terms set out in the bond terms are
convertible into 1,177,048 new shares in the Company.

Following the conversion, the Company has New Capital Perpetual Bonds in issue
in the nominal amount of NOK 1,501,015,057. The remaining New Capital Perpetual
Bonds may be converted into approximately 159.9 million shares in the Company at
a conversion price of NOK 9.39, subject to anti-dilution provisions. 

The Company's share capital is increased by NOK 117,704.80 by issue of 1,177,048
shares. The capital increase pertaining to the conversion of the New Capital
Perpetual Bonds has today been registered in the Norwegian Register of Business
Enterprises (Norwegian: Foretaksregisteret). The Company's new share capital is
NOK 96,388,046.20 divided into 963,880,462 shares, each with a nominal value of
NOK 0.10.

Issuance of the new shares in the VPS is expected to take place later today.


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


Fornebu, 21 March 2023
Norwegian Air Shuttle ASA


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.