NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, INAUSTRALIA ,CANADA , THEHONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA,SOUTH AFRICA ,NEW ZEALAND ,JAPAN ORTHE UNITED STATES , OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to the stock exchange announcements ofNorwegian Air Shuttle ASA (the "Company" or the "Group") dated14 January 2021 and19 February 2021 wherein the board of directors of the Company reported on indicative plans for the Company's emergence from its ongoing restructuring processes and the stock exchange announcement dated11 March 2021 announcing that MrKieran Wallace of KPMG Ireland as Examiner of the Company and a number of Irish subsidiaries of the Group (the "Examinership Companies") had proposed schemes of arrangement for the financial restructuring the Company and the Examinership Companies (together the "Restructuring Proposals"). Following the formulation of the Restructuring Proposals the Examiner convened meetings of the relevant classes of members and creditors of the Company and the Examinership Companies to consider and vote upon the Restructuring Proposals. Those meetings initially took place over the course of 18 -20 March 2021 , with certain inquorate meetings adjourned to22 March 2021 and23 March 2021 . The Restructuring Proposals were approved by the shareholders of NAS and by a majority of meetings of Creditors of NAS and by a majority of the meetings of the creditors of the Examinership Companies. Today the Examiner presented the Restructuring Proposals to theIrish High Court for consideration and confirmation. The judge of theHigh Court approved the scheme for an exit of the Examinership. Following the ruling by theIrish High Court the Norwegian Reconstructor Håvard Wiker at Ro Sommernes advokatfirma DA will open the voting process inNorway on the NAS restructuring proposal to be concluded on or about9 April 2021 . In the event the voting process inNorway on the NAS restructuring is approved, the Company will move forward with the Capital Raise commencing in April and target closing inMay 2021 . For more information, please contact:Geir Karlsen , CFO, phone +47 916 08 332 Press contact:Esben Tuman ,SVP External Communications , phone +47 905 08 400 Fornebu,26 March 2021 Norwegian Air Shuttle ASA This information is subject of the disclosure requirements according to the Market Abuse Regulation (MAR) Article 17 no. 1, and was prepared by EVP Tore Østby atNorwegian Air Shuttle ASA , tel +47 995 46 400. Important information The release is not for publication or distribution, in whole or in part directly or indirectly, in or intoAustralia ,Canada , the Hong Kong Special Administrative Region Of The People's Republic Of China,South Africa ,New Zealand ,Japan orthe United States (including its territories and possessions, any state ofthe United States and theDistrict of Columbia ). This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of theNorwegian 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. This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of theEuropean Parliament and of the Council of14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State. Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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