Norse Atlantic ASA: Norse and PIA sign partnership for two Boeing 787-9 Dreamliners

Arendal, Norway, 9 October 2026

Norse Atlantic ASA has signed a landmark ACMI agreement with PIA, the largest and flag bearing airline of Pakistan, for two modern Boeing 787-9 Dreamliners, accelerating PIA's long-haul capacity between the UK and Pakistan to meet growing demand for direct, premium connectivity.

Flight operations are expected to commence from the start of November 2026, bridging multiple destinations between UK and Pakistan. The strategic partnership, under which Norse provides the aircraft, crew, maintenance and insurance, powers PIA's ambitious route expansion while enabling Norse to rapidly redeploy capacity from its previous ACMI operation. It demonstrates Norse's Airline on Demand strategy, meeting global long-haul travel needs through its own network and high-profile partners like PIA.

"As previously communicated to the market, we deliver according to what we have said by now gradually redeploying capacity into new ACMI opportunities. We are pleased to support PIA's long-haul capacity expansion and to strengthen connectivity between the UK and Pakistan by providing the large Pakistani community in the UK with more options for travel between the two countries. We see this as the start of a strategic partnership between the two companies," said Eivind Roald, CEO of Norse Atlantic.

"Charter and ACMI agreements are integral to our balanced business model, enabling us to capture attractive capacity opportunities worldwide with a clear focus on utilization, predictable cash flows and long-term value creation," said Eivind Roald.

Speaking on the occasion of signing, CEO of PIA, Amir Hayat said, "UK is an important market for PIA, and this agreement will allow us to expand the much -needed capacity and provide greater choice and connectivity for passengers travelling on these routes. We are pleased to partner with Norse Atlantic as we continue to strengthen our international network and respond to strong demand for direct travel between the two countries. This is the first set of Dreamliners that is being adopted by the Pakistani market and we hope they will provide a dream journey to our valued guests who expect premium services from their national carrier."

Norse's "Airline on Demand" strategy is based on flexible, efficient deployment of the modern Dreamliner fleet across scheduled routes, bespoke charters and robust ACMI operations. This agility enables the Company to swiftly pivot aircraft allocation to capture emerging market opportunities, adapt to seasonal shifts, and maximize earnings. Simultaneously, high-impact ACMI arrangements with major international carriers shield Norse from passenger-demand volatility and unpredictable fuel-price fluctuations, ensuring a resilient operational framework.

Buoyed by the momentum of this PIA partnership, Norse is currently in active discussions with other leading international airlines regarding potential additional ACMI agreements and will provide further information as these exciting opportunities materialize.

Investor and media contact Norse ASA:

Anders Hall Jomaas, CFO, anders.jomaas@flynorse.com

Media Contact PIA

Abdullah H. Khan, GM Corporate Communications, abdullah.hafeez@piac.aero

About Norse Atlantic ASA Norse Atlantic Airways is an airline committed to offering affordable fares on direct, long-haul flights to popular destinations, along with specialized charter and ACMI services for tailored travel needs and extensive cargo operations. Norse operates a modern fleet of 12 fuel-efficient Boeing 787-9 Dreamliners, serving a network of destinations across North America, Europe, Africa and Asia.

About PIA

Founded in 1955, Pakistan International Airlines (PIA) is the national flag carrier of Pakistan. Following its landmark privatization in December 2025, the airline has embarked on a comprehensive corporate transformation, focused on rapid fleet modernization, digital innovation, and strategic route expansion.

PIA has a fleet of 31 aircraft comprising of Boeing 777s and Airbus 320s and serves a vast network from China to North America.