Arendal, Norway, 21 August 2025 – Reference is made to the stock exchange announcement by Norse Atlantic ASA ("Norse" or the “Company”) earlier today at 07:30 (CEST) regarding the commencement of the subscription period for the private placement of a new 2-year senior unsecured convertible bond with gross proceeds of USD 30 million (the " Bond Issue ").

The Bond Issue has been fully subscribed and the subscription period has therefore successfully been completed.

The 2-year convertible bond will carry an interest rate of 8.5% per annum and be convertible into Norse shares at USD 1.2662 per share, representing a premium of 35% compared to the arithmetic average of the volume weighted average share price converted into USD (VWAP) for the last two trading days (19 and 20 August).

The

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