Reference is made to the stock exchange announcement on17 June 2020 byNorwegian Air Shuttle ASA (the "Company") regarding the agreement that has been reached with one of the Company's operating lessors to convert approximatelyUSD 16.6 million of lease debt into 40,164,731 new shares at a conversion price ofNOK 4.24919 , subject to satisfaction of documentary conditions precedent. The conditions precedent has been satisfied and the Company has today registered the share capital increase pertaining to the conversion in theNorwegian Register ofBusiness Enterprises (Nw.: Foretaksregisteret). The Company's share capital is increased byNOK 4,016,473.10 by issue of 40,164,731 new shares. The Company's new share capital isNOK 326,654,710.50 , divided into 3,266,547,105 shares, each with a nominal value ofNOK 0.10 . The new shares will be listed on theOslo Stock Exchange and admitted to trading when recorded in the VPS which is expected to take place today, however so that the new shares are subject to lock-up whereof 1/3 of these shares shall be released from lock-up on each of9 August 2020 ,9 October 2020 and9 December 2020 . For further information, please contact: Tore Østby, EVP Strategic Development, phone: +47 995 464 00Norwegian Air Shuttle ASA Fornebu26 June 2020 Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or intoAustralia ,Canada ,Japan orthe United States (including its territories and possessions,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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