Norwegian Air Shuttle enters into agreements in principle to lease up to 13 Boeing 737-800 NG aircraft

Norwegian continues to selectively add to its growing aircraft fleet through
signed LOIs, subject to approvals and documentation, for the lease of up to
thirteen Boeing 737-800 NG aircraft at favorable terms. The lessors are
experienced and have prior relationships with Norwegian. The aircraft are
scheduled to begin delivery in Q4 2021 through Q1 2022 to deliver Norwegian’s
announced Summer 2022 flying program with flights to over 250 destinations.

The lease terms are between five to eight years, depending on aircraft age. They
include ‘power-by-the-hour’ (PBH) arrangements for both the IATA Winter Seasons
2021/22 and 2022/23, giving Norwegian necessary flexibility to manage capacity
through the low season as the world emerges from the Covid pandemic. Finally
Norwegian has the right, under some of the leases, to substitute the subject
737-800 NG aircraft for new technology narrow-body aircraft from either Boeing
or Airbus. This will enable Norwegian to continue its focus on offering the most
environmentally friendly travel options for our customers.