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 procure that certain amendments and waivers are implemented and granted in relation to the Bonds and Warrants, including that all Warrants should be cancelled and delivered.

On 14 December 2018, a Cancellation Agreement was sent to Warrant holders and as of today, all Warrant holders have agreed to and signed the Cancellation Agreement. It is therefore resolved that the Request has been approved.

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 votes has been obtained in order to form a quorum and a requisite majority of the Bondholders have given their consent to the Request. It is therefore resolved that the Request has been approved.