Press release - 30 December 2013 17:32

Changes to Corporate Structure implemented

Reference is made to notices to the stock exchange of Aug. 30th2013 and Oct. 15th 2013.

Norwegian has completed the planned restructuring activities for 2013. The background for the restructuring is to optimize the airline operation, and set a new corporate structure in order to position the company for further international growth.

In addition to the earlier announced establishment of new AOCs and Resource companies, specific activities of the airline’s commercial activities are further reorganized and established in separate new entities including, but not limited to, Norwegian Holiday, Norwegian Cargo as well as brand and marketing activities. A key consideration has been to build a structure which maintains Norwegian’s flexibility and adaptability despite growing size and entry into new markets in Europe, and across continents. The restructuring has included the establishment of new legal entities, reorganizing and relocation of key personnel and decision making authority, rights and assets to the relevant entities at their respective legal locations.

The significant transactions contemplating the financial aspect of the restructuring will take effect as of 31.12.2013. Norwegian will continue its financial reporting on a Group-level as the restructuring is expected to yield no material changes to the balance sheet or earnings (EBT) for the Group as of 31.12.2013. Tax effect of the sale, transfer and future operations will be governed by the appropriate laws and regulations of the relevant jurisdictions. The reorganization will not trigger immediate payable tax as the reorganization is governed by the freedom of establishment under the EEA-agreement.

Norwegian will in 2014 continue to optimize the legal structure and activities between subsidiaries where necessary.

Fornebu, 30.12.2013

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Norwegian.com

The Norwegian group is a leading Nordic aviation company, headquartered at Fornebu outside Oslo, Norway. The company has over 8,200 employees and owns two of the prominent airlines in the Nordics: Norwegian Air Shuttle and Widerøe’s Flyveselskap. Widerøe was acquired by Norwegian in 2024, aiming to facilitate seamless air travel across the two airline’s networks.

Norwegian Air Shuttle, the largest Norwegian airline with around 4,700 employees, operates an extensive route network connecting Nordic countries to key European destinations. In 2023, Norwegian carried over 20 million passengers and maintained a fleet of 87 Boeing 737-800 and 737 MAX 8 aircraft.

Widerøe’s Flyveselskap, Norway’s oldest airline, is Scandinavia’s largest regional carrier. The airline has more than 3,500 employees. Mainly operating the short-runway airports in rural Norway, Widerøe operates several state contract routes (PSO routes) in addition to its own commercial network. In 2023, the airline had 3.3 million passengers and a fleet of 48 aircraft, including 45 Bombardier Dash 8’s and three Embraer E190-E2's. Widerøe Ground Handling provides ground handling services at 41 Norwegian airports.

The Norwegian group has sustainability as a key priority and has committed to significantly reducing carbon emissions from its operations. Among numerous initiatives, the most noteworthy is the investment in production and use of fossil-free aviation fuel (SAF). Norwegian strives to become the sustainable choice for its passengers, actively contributing to the transformation of the aviation industry.