Supreme Court decide not to admit EU ETS appeal

Reference is made to the stock exchange announcement dated 12 March 2026 in which Norwegian Air Shuttle ASA (“Norwegian”) announced that it would appeal the judgement from the Borgarting Court of Appeal concerning the EU ETS obligation for 2020.

Norwegian has today been notified by the Supreme Court of Norway of its decision not to admit the case for consideration. This despite the Oslo District Court which ruled fully in Norwegian’s favour.

“We are both disappointed and surprised that the Supreme Court has declined to hear our appeal. Our view has always been that we were unable to fulfil our EU ETS obligations for 2020 as we were under reconstruction and that doing so could entail criminal liability. The merits of our situation were also demonstrated by the Oslo District Court, which ruled fully in our favour, and the Irish High Court, which ruled that EU ETS obligations were subject to cram down in a reconstruction. Following the Supreme Court’s decision, we now have a final conclusion on this matter. While it is not the outcome we had hoped for, we are pleased to finally put this behind us and focus on our strong operations to the benefit of our close to 27 million yearly passengers, said Hans-Jørgen Wibstad, CFO of Norwegian.

Following this decision, Norwegian expects to record a non-recurring loss of approximately NOK 730 million during the second quarter of 2026, primarily related to the previously imposed penalty of approximately NOK 400 million and the 372,818 outstanding EU ETS emission allowances for 2020 to be surrendered. The expected cash outlay is expected to be approximately NOK 330 million as the imposed penalty was settled in 2023.

For further information, please contact: Jesper M. Hatletveit, Investor Relations at Norwegian Air Shuttle, Tel: +47 906 64 401 Hans-Jørgen Wibstad, CFO at Norwegian Air Shuttle, Tel: +47 916 89 661

Fornebu, 25 June 2026 Norwegian Air Shuttle ASA

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Teodora Samoila, Finance Manager at Norwegian Air Shuttle ASA, on 25 June 2026 at 16:55 CEST.