Reference is made to the "Terms of Dividend Claims" forNorwegian Air Shuttle ASA (the "Company") dated11 March 2021 (the "Dividend Claim Terms") relating to the dividend claims (the "Dividend Claims") representing part of the dividends approved by (i) the scheme of arrangement under the Irish examinership commenced by the presentation of a petition on18 November 2020 for the Company and certain of its Irish subsidiaries as formulated by the examiner of the Company pursuant to section 534 of the Irish Companies Act 2014 and (ii) the reconstruction plan under the Norwegian reconstruction negotiations (Nw. rekonstruksjonsforhandling) in respect of the Company pursuant to section 23 of the Norwegian Temporary Reconstruction Act (Nw. rekonstruksjonsloven) commenced by service of a petition dated8 December 2020 . For further details, please see previously published stock exchange notices. Capitalised terms used but not defined in this notice shall be given the meaning given to such term in the Dividend Claim Terms. Pursuant to the Dividend Claim Terms, the Company shall, in conjunction with the Overseer, calculate and make available the Conversion Price for the conversion of the Dividend Claims to shares in the Company on the Conversion Price Determination Date (being today). The Conversion Price shall be calculated using the below formula in accordance with the Dividend Claim Terms: CP=C/S where: CP is the initial Conversion Price; C is the aggregate nominal amount of Dividend Claims outstanding as of the Conversion Price Determination Date; and S is 233,548,229. The aggregate nominal amount of Dividend Claims outstanding as of the Conversion Price Determination Date isNOK 2,020,841,449.27 . Consequently, the Conversion Price for conversion of the Dividend Claims to shares in the Company will beNOK 8.65 . The Independent Verification Statement from the Overseer is posted together with this notice. Pursuant to the Dividend Claim Terms, all Dividend Claims, other than Dividend Claims in respect of which the relevant Creditor has delivered a Conversion Opt-out Notice or a Structured Sale Opt-out Notice within the Opt-out Deadline (being22 July 2021 ), shall be converted to shares in the Company on the Structured Sale Conversion Date (being26 July 2021 ). Any Dividend Claims in respect of which a Creditor has delivered a Structured Sale Opt-out Notice within the Opt-out Deadline will be converted to new shares in the Company on the No-Sale Conversion Date (being the earlier of (a) a date to be determined by the Company and communicated to the Conversion Agent no later than five (5) Business Days prior to its occurrence, such date to fall promptly following the completion of the Structured Sale Process and (b) the date falling three (3) months after the commencement of the Structured Sale Process). Fornebu19 July 2021 Norwegian Air Shuttle ASA Important information 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 and the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, Investor Relations atNorwegian Air Shuttle ASA , tel. +47 995 46 400. The release is not for publication or distribution, in whole or in part directly or indirectly, in or intoAustralia ,Canada ,Japan orthe United States (including its territories and possessions, any state ofthe United States and theDistrict 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, inthe 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 inthe United States except pursuant to an exemption from the registration requirements of the US Securities Act.
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