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WOW air bondholders approve to convert their bonds to equity Reykjavik, Iceland – March 26, 2019

Reference is made to a market announcement of WOW air (“WOW“), dated March 24 2019, regarding WOW air’s advanced discussions with bondholders about voluntary restructuring including an agreement of converting current debt into equity. Bondholders have formally approved to convert their bonds into equity and formal discussions with investors have commenced to fund the company. This is an important milestone in financially restructuring the company and secure the long-term sustainability of WOW air. This information is information that WOW air hf. is obliged to make public pursuant to

WOW air Bond Holders in advance discussions

A majority of WOW air Bond Holders and other creditors of WOW air are in advance discussions with the aim of reaching an agreement on a voluntary restructuring including an agreement of converting current debt into equity and fund the company towards long term sustainability. Further information will be given tomorrow. 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 19:35 GMT on March 24, 2019.

Discussions between WOW air and Icelandair Group cancelled

Reykjavik, Iceland – March 24, 2019 Icelandair Group has decided that its possible involvement in WOW air’s operations, as announced on 20 March 2019, will not materialize. Therefore, all discussions between the parties have been cancelled. 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 18:30 GMT on March 24, 2019.

Indigo Partners cancel negotiations with WOW air – WOW air starts discussions with Icelandair Group

Reykjavik, Iceland – March 21, 2019 The proposed investment of Indigo Partners LLC ("Indigo Partners") in WOW air has been cancelled by Indigo Partners. Therefore, all negotiations between WOW air and Indigo Partners have been cancelled. Subsequently WOW air has started discussions with Icelandair Group. The parties aim to conclude the negotiations by Monday March 25, 2019. 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

WOW air hf. – Notice of a written procedure to be distributed to bondholders next week

Reykjavik, Iceland – March 9, 2019  Reference is made to previous announcements concerning the ongoing negotiations between the shareholders of WOW air hf. (“WOW”) and Indigo Partners LLC (“Indigo”). Although no agreement has been reached, the parties continue to work in good faith towards closing an investment as soon as practicable following successful completion of due diligence and satisfaction of other conditions precedent pursuant to a Share Purchase Agreement (the "Share Purchase Agreement") to be entered into between an SPV formed and controlled by Indigo Partners (the "Indigo

WOW air in breach of information disclosure requirements and financial covenants

Reykjavik, Iceland – March 9, 2019  Reference is made to WOW air’s (the "Company") up to EUR 100,000,000 Senior Secured Floating Rate Bonds 2018/2021 with ISIN: NO0010832785 (the "Bonds"). Terms defined in the terms and conditions of the abovementioned bond issue (the "Terms and Conditions") shall have the same meaning when used in this notice, unless otherwise defined herein. According to the Terms and Conditions the Company shall make its Financial Report available by way of press release and by publication on the Company’s website as required by the applicable rules and regulations

Update on negotiations between Indigo Partners and WOW air

While the parties have not reached an agreement, Indigo Partners and WOW air continue to work in good faith to negotiate terms while working toward closing an investment by March 29th.  A new written procedure will be submitted to the bond holders in the coming days.  No further comments will be made at this time.   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

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

WOW air hf. – Successful result from the written procedure

ISIN: NO0010832785 – Senior Floating Rate Bonds with an aggregate outstanding amount of USD 60,000,000. Terms defined in the terms and conditions of the abovementioned bond issue (the "Terms and Conditions") shall have the same meaning when used in this notice, unless otherwise defined herein. On 14 December 2018, a notice of written procedure (the "Notice of Written Procedure") was sent to the Bondholders regarding a Request (as defined in the Notice of Written Procedure) for amendments of the Terms and Conditions. The voting period expired on 17 January 2019. A sufficient number of

Clarifications regarding the Notice of Written Procedure

The following letter has been sent to WOW air´s bondholders.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")[1] in WOW air and the Notice of Written Procedure sent to bondholders dated 14 December 2018. Following discussions with bondholders over the past weeks, WOW wants to make the following clarifications regarding the investment and conditions related to the WOW bonds and warrants. Should the investment be completed as planned, the actual

Ragnhildur Geirsdóttir leaves her position as WOW air‘s COO to join RB as CEO

Ragnhildur Geirsdóttir, who has been WOW air’s COO for the last 18 months is taking over a new position as CEO of RB, Reiknistofa Bankanna, later this month. Skuli Mogensen, WOW air’s CEO, will take over the day to day responsibilities as before. For more information, please visit WOW’s website at https://wowair.is/investors or contact: Svanhvit Fridriksdottir, VP 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,

WOW air sells four aircraft to Air Canada

WOW air has signed a sale and purchase agreement to sell Air Canada four Airbus A321 aircraft that WOW air has had on finance lease since 2014. The board of directors of WOW air has approved of this transaction. The sale is a part of WOW air ongoing restructuring and to ensure the maximum utilization of its remaining fleet. The aircraft will be delivered in January 2019. This transaction that will improve WOW air's liquidity by more than 12 million USD. For more information, please visit WOW’s website at https://wowair.is/investors or contact: Svanhvit Fridriksdottir, VP

WOW AIR ANNOUNCES UK ROUTE UPDATE

Ultra-low-cost airline to shift daily flights from London Gatwick to London StanstedUltra-low-cost airline WOW air  has today announced that it will be moving its London Gatwick service across to London Stansted, effective 31 March 2019. The new schedule from London Stansted will see daily flights to Keflavik depart at 11:20, allowing passengers to make onward connections to the US and Canada. Mats Sigurdson, London Stansted Aviation Director, said: “We’re delighted that WOW air has chosen to base its London operation at London Stansted Airport. We saw really

WOW air hf. – Notice of a written procedure

As announced in a press release dated November 29, 2018 the shareholders of WOW air hf ("WOW" or the "Company") and Indigo Partners LLC ("Indigo") have agreed in principle for Indigo to invest in WOW after the signing of a Term Sheet (“Term Sheet”). The Term Sheet contains certain conditions for the completion of the transaction, including that certain amendments and waiver shall be made in relation to the terms and conditions for the Company’s up to up to EUR 100,000,000 Senior Secured Floating Rate Bonds 2018/2021 with ISIN: NO0010832785 (the "Bonds"). Following successful completion

WOW air is restructuring and going back to its roots

After a challenging year, WOW air is now restructuring and simplifying its operations to return to its roots as a profitable ultra-low cost airline while discussions with Indigo Partners progress. WOW air´s fleet will be reduced from twenty to eleven aircraft, all single-aisle Airbus. WOW air is in negotiations with its lessors to return some of its aircraft including all Airbus A330s. Four Airbus A321s are being sold in a transaction that will improve WOW air´s liquidity by more than 10 million USD. There will no changes in the schedule in December and early January. In January 2019,

Indigo Partners and WOW air Discussions Progressing

Reykjavik, Iceland – December 5, 2018 Indigo Partners (“Indigo”) and WOW air (“WOW”) initiated diligence meetings this week in Reykjavik as the initial steps to a potential Indigo investment after the signing a term sheet last week. A team from Indigo Partners spent the last two days with WOW air management to review the business and opportunities of the airline going forward. The overall process is progressing and both parties are working to finalize the investment. Issues remaining include WOW’s planned network development, vendor contracts including aircraft leases and certain

Nine months 2018 results

Revenues for the period January to September 2018 were USD 501 million and increased by 31% as compared to the same period last year. Total loss for the period was USD 33.6 million compared to USD 13.5 million loss for the same period last year. · Loss for the period USD 33.6 million · EBITDA USD -18.9 million, as compared to USD 8.8 million last year · Equity ratio 7% at the end of September The Board of Directors and the Chief Executive Officer draw attention to notes 3 and 11 that accompany these financial statements which contain information on events after the reporting

Written procedure cancelled

As announced in a press release dated 29 November 2018 the acquisition of Icelandair Group of WOW air (The “Acquisition”), based on a purchase agreement signed on November 5th, has been cancelled. The share purchase agreement contained certain conditions for the completion of the acquisition, including that certain amendments and waivers should be made in relation to the terms and conditions for the Company's up to EUR 100,000,000 Senior Secured Floating Rate Bonds 2018/2021 with ISIN: NO0010832785 (the "Bonds"). On the 9th of November WOW air initiated a written procedure where bondholders

Indigo Partners and WOW air Reach Preliminary Agreement

Indigo Partners LLC (“Indigo”), and WOW air (“WOW”), the Icelandic airline based in Reykjavik, have agreed in principle for Indigo to invest in WOW. Terms of the transaction were not disclosed. Following successful completion of due diligence, the parties would work to close as soon as practicable. WOW’s CEO and primary shareholder, Skuli Mogensen, would remain a principal investor in WOW upon completion of the transaction. WOW air is an ultra-low-cost carrier currently serving 25 destinations across Europe and North America. “The demand for low-cost air service continues to expand

Icelandair Group's acquisition of WOW air cancelled

The acquisition of Icelandair Group of WOW air, based on a purchase agreement signed on November 5th, has been cancelled. Both parties agree on this outcome. Icelandair Group hf. issued a stock exchange release last Monday, November 26th, stating that the company estimated that it would be unlikely that all of the conditions in the share purchase agreement would be fulfilled by the shareholders’ meeting on November 30th. That situation remains unchanged. Therefore, it is unlikely that the Board of Directors of Icelandair Group can recommend to the shareholders that they agree to the

WOW air downsizes its fleet by four aircraft

WOW air is downsizing its fleet by two Airbus A320 aircraft and two Airbus A330 aircraft in cooperation with its lessors. This is a part of necessary restructuring of the airline and to ensure maximum utility of its remaining fleet. This restructuring will not impact WOW air´s current plans to fly to India. For more information, please visit WOW’s website at https://wowair.is/investors or contact: Svanhvit Fridriksdottir, VP 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

WOW air hf. publishes weakened financial projections and information on decrease of sales and liquidity concerns

On 24 September 2018, WOW air hf. (the "Company") issued senior secured floating rate bonds on the Nordic bond market in an amount of EUR 60 million within a total framework of EUR 100 million. The bonds carry a floating rate interest of EURIBOR plus 9.00 per cent per annum and mature on 24 September 2021 (the "Bond Issue"). Since the date of the Bond Issue, a number of external and internal events have worsened significantly and the Company is now working on securing its long term funding. During and following the Bond Issue, the Company had significant bad publicity about the

WOW air hf. publishes bond prospectus and applies for listing of its bonds on Nasdaq Stockholm

On 24 September 2018, WOW air hf. issued senior secured floating rate bonds on the Nordic bond market in an amount of EUR 60 million within a total framework of EUR 100 million. The bonds carry a floating rate interest of EURIBOR plus 9.00 per cent per annum and mature on 24 September 2021. WOW air hf. has applied for listing of the bonds on the Corporate Bond list at Nasdaq Stockholm. The bonds will be admitted to trading as soon as possible. In connection with the listing, WOW air hf. has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish

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