NAS: GRANT OF EMPLOYEE SHARE OPTIONS IN NORWEGIAN AIR SHUTTLE ASA

15:35
Grant of employee share options in Norwegian Air Shuttle ASA (NAS).

1. On 29 May 2019 NAS employees were granted 1,200,000 share options, of which
1,050,000 to primary insiders.

The options were granted on terms resolved by NAS Annual General Meeting on 7
May 2019:
o The number of options to be granted was limited to 1,200,000. Each share
option corresponds to one share.
o The strike price is NOK 43.00.
o Options may be exercised in 2022 at the earliest, and in 2026 at the latest.
o Any calendar year, each optionees aggregated gross profit from exercise of
options under all share option programs shall not exceed 3 years gross base
salary.
o If an optionee leaves the company, the non-vested options will be forfeited.
Outstanding options exercisable at the date of such termination shall be
exercisable no later than the first exercise period thereafter.

2. The primary insiders mentioned below were granted the following number of
options:

Bjørn Kjos 300,000
Geir Karlsen 150,000
Helga Bollmann Leknes 150,000
Kurt Simonsen 150,000
Tore Kristian Jenssen 150,000
Bjørn Erik Barman-Jenssen 50,000
Anne-Sissel Skånvik 50,000
Frode Berg 50,000
1,050,000

3. New holding

After grant, the primary insiders mentioned in paragraph 2 hold the following
number of unexercised options in NAS, each option corresponding to one share, at
the indicated strike price:

Issued in 2018 2019
Strike price, NOK 278.00 43.00
Expiry year 2025 2026

Bjørn Kjos 80,000 300,000
Geir Karlsen 50,000 150,000
Helga Bollmann Leknes 50,000 150,000
Kurt Simonsen 50,000 150,000
Tore Kristian Jenssen 20,000 150,000
Bjørn Erik Barman-Jenssen 10,000 50,000
Anne-Sissel Skånvik 20,000 50,000
Frode Berg 20,000 50,000

After completion of the above mentioned transactions, the primary insiders hold
the following number of shares in NAS*:

Bjørn Kjos 20,832,399
Geir Karlsen 0
Helga Bollmann Leknes 665
Kurt Simonsen 0
Tore Kristian Jenssen 0
Bjørn Erik Barman-Jenssen 0
Anne-Sissel Skånvik 1,000
Frode Berg 0

*Includes shares held by related parties and holding companies.


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