Nordic Trustee AS has informed Norwegian Air Shuttle ASA ("the Company") about
the results from bondholders' meetings (see attachment below). 
 
The Company is pleased to see very robust support from 3 out of 4 bondholder
groups, approving the Company´s proposals. The proposal to NAS07 did, however,
not receive sufficient support with a vote in favour of 62% (2/3 required). The
Company is however continuing a constructive dialogue with bondholders to assess
whether the required majority for approval of the proposal can be reached. 
 
The Company has furthermore received strong support from lessors for a minimum
conversion to equity of 550 million USD (excluding conversion under the
so-called power-by-the-hour arrangement), which would satisfy the condition set
out in the proposal to the bondholders. 
 
The Company's scheduled extraordinary general meeting will be conducted as
planned on Monday 4 May 2020. 
 
The Company intends to summon a new bondholder meeting planned to be held on
Monday 18 May 2020. The Company will on Monday 4 May 2020 determine the timeline
for the capital raise, which will end on or about 18 May 2020.
 
"Our dialogue with the bondholders continues with the clear goal of reaching a
solution. Unfortunately, we were not able to reach an agreement within the
deadline. However, the discussion is continuing through the weekend to find a
solution, said CEO Jacob Schram of Norwegian.

Fornebu, 1 May 2020

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