Share and Ownership Structure

12.03.2010

Norwegian Air Shuttle ASA has been listed on the Oslo Stock Exchange (OSE) since December 2003 under the ticker symbol NAS. At the end of 2009 the company had 34,209,858 shares at a nominal value NOK 0.10 outstanding. In November 2009 the company undertook a MNOK 251 private placement in order to strengthen Norwegian’s financial position and flexibility even further, positioning the company for future opportunities and endeavors. In relation to the capital increase the company issued 1,620,000 new shares. Market capitalization at the end of 2009 was MNOK 3,934, up from MNOK 1,194 the year before.

Ownership Structure

At the end of the year Norwegian Air Shuttle ASA had a total of 4,297 shareholders split between institutional and private investors. Overseas shareholders controlled 18% of the shares at year-end, compared to 10% at the beginning of the year. Apart from Norway the largest shareholdings are in Finland, the United States, and the United Kingdom with a 5%, 5% and 4% share, respectively.

The company’s “Employee Share Saving Plan” purchased 81,811 shares for the company’s employees. In 2008 Norwegian issued options to employees who agreed to join a voluntary option program where their salary was reduced in exchange for options. The initiative was part of the Group’s cost-cutting program precipitated by the record high fuel prices last summer. A total of 230,080 of the options were called in 2009.

The company did not own any own shares at year end.

The Share

The share price at year-end was NOK 115, an increase of 212% since the end of 2008. The share is included in the OB Match Liquidity Group on the Oslo Stock Exchange. The average daily traded volume in 2009 was 145,289 shares, equivalent to an annual turnover ratio of 1.1.