Update on strategic options being explored in collaboration with advisors Seabury Securities

On January 23, 2024, Norse announced the appointment of Seabury Securities as its investment banker, tasked with supporting the company in executing strategic options, including potential investments from strategic partners and commercial partnerships, identified under Seabury’s prior role as strategic advisor.

One strategic investment option in advanced stage of discussions has ended with no formal agreement reached. The company will continue to work closely with Seabury Securities going forward to ensure that potential opportunities are carefully considered for the benefit of our shareholders and customers.

“Our focus remains to deliver on our opportunistic and flexible business model by securing additional longer term winter charter contracts and operating our own core summer routes when demand is at it’s highest. We will update the market and our shareholders regarding additional active strategic avenues as these progress,” said Bjorn Tore Larsen, CEO and Founder Norse Atlantic Airways.

Contacts:

Investors: CFO, Anders Hall Jomaas, anders.jomaas@flynorse.com

Media: SVP Communications, Philip Allport, philip.allport@flynorse.com

About Norse Atlantic ASA:

Norse Atlantic Airways is an airline that offers affordable fares on long-haul flights, primarily between Europe and the United States. The Company was founded by CEO and major shareholder Bjørn Tore Larsen in March 2021. Norse has a fleet of 15 modern, fuel-efficient and more environmentally friendly Boeing 787 Dreamliners that serve destinations including New York, Las Vegas, Los Angeles, Orlando, Miami, Cape Town, Bangkok, Oslo, Athens, London, Berlin, Rome and Paris. The Company's first flight took off from Oslo to New York on June 14, 2022.