NORWEGIAN AIR SHUTTLE ASA Reference is made to theNorwegian Air Shuttle ASA (the "Company") perpetual 0% USD convertible bond loan with ISIN NO 0010883515 in the aggregate amount ofUSD 79,077,894 ("USD Perpetual Bonds"). The Company has received conversion notices from bondholders representingUSD 5,471,152 in this bond issue, which pursuant to standard terms set out in the bond terms are convertible into 135,875 new shares in the Company. The USD Perpetual Bonds form part of the Company's subordinated perpetual bond issues as further described in the prospectus dated5 May 2020 (the "Prospectus").As set out in the Prospectus, the perpetual bonds have been issued on multiple ISINs reflecting different currencies of issue. Following the conversion, NAS has perpetual bonds in issue in the nominal amount of approximatelyNOK 818 million (including amounts issued in other currencies exchanged into NOK at the fixed exchange rate set out in the applicable perpetual bond agreements) which may in the option of the holders be converted into approximately 1.9 million shares in the Company atNOK 424.919 (the "Conversion Price"), subject to anti-dilution provisions as set out in the Prospectus. The Company's share capital is increased byNOK 13,587.50 by issue of 135,875 new shares. The increase pertaining to the conversion of the USD Perpetual Bonds has today been registered in theNorwegian Register ofBusiness Enterprises (Nw.: Foretaksregisteret). The Company's new share capital isNOK 4,037,029.50 divided into 40,370,295 shares, each with a nominal value ofNOK 0.10 . Issuance of the new shares in the VPS is expected to take place later today. Fornebu,19 March 2021 Norwegian Air Shuttle ASA This information is subject of the disclosure requirements according to Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by Tore Østby, EVP Strategic Development atNorwegian Air Shuttle ASA , tel +47 99546400.
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