Norse Atlantic ASA: Share capital increase

Arendal, 14 May 2021: Norse Atlantic ASA (the “Company”) refers to the announcement on 12 May 2021 regarding the end of the stabilisation period and partial exercise of the Greenshoe Option, where it was informed that Pareto Securities AS, as Stabilisation Manager, has partially exercised the Greenshoe Option and accordingly will subscribe for 3,934,314 new shares in the Company. The new shares will be subscribed for at a subscription price of NOK 20.00 per share, equal to the subscription price in the private placement carried out in advance of the listing of the Company on Euronext Growth Oslo.

Following such exercise of the Greenshoe Option, the board of directors of the Company has today resolved a corresponding increase of the Company's share capital by NOK 11,802,942 through the issuance of 3,934,314 new shares, each with a nominal value of NOK 3. Following the share capital increase, the Company will have a total share capital of NOK 233,052,942 divided into 77,684,314 shares, each with a nominal value of NOK 3.

For further information, please contact:

James Lightbourn, CFO

james.lightbourn@flynorse.com

+1 (804) 313 0375

Ben Boiling, VP Finance

ben.boiling@flynorse.com

+47 912 40 945

About Norse Atlantic ASA:

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

This information 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 14 May 2021 at 11:00 CET.

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