Reference is made to the announcement published by Norwegian Air Shuttle ASA ("NAS" or the "Company") on 20 March 2018 regarding a private placement of new shares with gross proceeds of approximately NOK 1,300 million (the "Private Placement").

The Board of Directors has resolved to conduct a subsequent offering (the "Subsequent Offering") with gross proceeds of up to NOK 200,000,065 by issuing up to 1,290,323 new shares at NOK 155 per share, equal to the subscription price in the Private Placement.

The Subsequent Offering will, on the basis of a prospectus approved by the Norwegian Financial Supervisory Authority expected to be approved on or about 2 May 2018, be directed towards shareholders in the Company as of 20 March 2018, as registered in the VPS on 22 March 2018, who were not allocated shares in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful or, for jurisdictions other than Norway, would require any prospectus, filing, registration or similar action. Such shareholders will be granted non-tradable subscription rights to subscribe for, and, upon subscription, be allocated new shares. One subscription right will entitle the holder to subscribe for one share in the Subsequent Offering. Oversubscription for the relevant shareholders will be allowed. Subscription without subscription rights will not be allowed.

The subscription period in the Subsequent Offering is expected to commence on or about 3 May 2018 and end on or about 22 May 2018 at 16:30 CET.

In accordance with the continuing obligations for companies listed on the Oslo Stock Exchange, the following key information is given with respect to the Subsequent Offering:

The following will apply for the Subsequent Offering:

Date of announcement of the Subsequent Offering: 20 March 2018
Last day of trading including subscription right: 20 March 2018
Ex. date: 21 March 2018
Record date: 22 March 2018
Date of approval: The Subsequent Offering is subject to approval at an EGM scheduled to be held on 4 April 2018
Maximum number of new shares: 1,290,323
Subscription price: NOK 155
Maximum gross proceeds: NOK 200,000,065

Arctic Securities AS, Carnegie AS, Danske Bank, Norwegian branch and Pareto Securities AS acted as Joint Lead Managers (together the "Managers") for the Private Placement. Advokatfirmaet Simonsen Vogt Wiig AS is acting as legal advisor to the Company in connection with the Private Placement, and Advokatfirmaet BAHR AS is acting as legal advisor to the Managers.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.