WOW air hf. – All Warrant holders agree to Warrant Cancellation Agreement

ISIN: NO0010832785 – Senior Floating Rate Bonds with an aggregate outstanding amount of USD 60,000,000.

Reference is made to the market announcement of WOW air (“WOW“), dated 29 November 2018, of the signing of a term sheet for the proposed investment of Indigo Partners LLC ("Indigo Partners") in WOW air.

In connection with the aforementioned bonds, WOW issued on 2 November 2018 share warrant instruments (the "Warrants").

Pursuant to a Share Purchase Agreement that will be negotiated between the Indigo Investor and the shareholders of WOW, the shareholders of WOW undertook to procure that certain amendments and waivers are implemented and granted in relation to the Bonds and Warrants, including that all Warrants should be cancelled and delivered.

On 14 December 2018, a Cancellation Agreement was sent to Warrant holders and as of today, all Warrant holders have agreed to and signed the Cancellation Agreement. It is therefore resolved that the Request has been approved.

For more information, please visit WOW’s website at https://wowair.is/investors or contact:

Svanhvit Fridriksdottir, SVP Communications

Mail: svana@wow.is | Tel: +354 6959359

This information is information that WOW air hf. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:00 GMT on January 18, 2019.

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