Norse Atlantic Airways signs lease agreement for six Dreamliners

Arendal, 2 August 2021: Norse Atlantic ASA (the “Company” or “Norse”) has agreed to lease six (6) Boeing 787-9 Dreamliners from BOC Aviation Limited. The lease is at attractive rates and payment terms, allowing the Company a flexible implementation during start-up of its operation. The lease is for a term of approximately 16 years per aircraft and the Company expects to take delivery of the aircraft in December 2021. This agreement increases the Company’s fleet to a total of fifteen (15) Boeing 787 Dreamliners.

With this transaction, Norse continues to execute on its strategy of making transatlantic travel affordable to everyone by utilizing a uniform fleet of modern, fuel-efficient and more environmentally friendly aircraft and through competitive and flexible lease structures.

“We are pleased to expand our leasing relationships to include a lessor the calibre of BOC Aviation as we grow our fleet and continue to build our organization for take-off,” said Bjørn Tore Larsen, founder and Chief Executive Officer of Norse. “We very much look forward to welcoming customers on both sides of the Atlantic on board these state-of-the-art aircraft as soon as demand for transatlantic travel resumes”.

“We are delighted to welcome Norse as a new customer as we support the airline’s plans to serve the low-cost intercontinental market with fuel-efficient Boeing 787 Dreamliners,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation. “We look forward to building on this new relationship with Norse and working with the airline on its future fleet requirements.”

Investor contacts:

James Lightbourn, CFO james.lightbourn@flynorse.com

Ben Boiling, VP Finance ben.boiling@flynorse.com

Media contact:

Lasse Sandaker-Nielsen media@flynorse.com

About Norse Atlantic Airways

Norse Atlantic Airways is a new innovative airline planning to serve the international, low-cost market between popular European and US destinations with a fleet of modern, fuel-efficient and more environmentally friendly Boeing 787 Dreamliners. Norse Atlantic Airways was established in February 2021 with its shares admitted to trading on Euronext Growth Oslo in April 2021. For more information, visit www.flynorse.com.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by Ben Boiling, VP Finance, Norse Atlantic ASA, on 2 August 2021 at 06:30 CET.

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