Settlement concerning the Norwegian NH90 program

The Norwegian Government and NHIndustries SAS (with parent companies) have reached an amicable settlement by which all disputes between the parties relating to the Norwegian NH90 program are resolved.

As a result of the settlement, all court proceedings between the parties are now concluded.

The settlement provides that NHIndustries (NHI) will take back all helicopters along with associated spare parts, tools, and mission-specific equipment from the Norwegian Government. NHI will assume full control over the recovered assets and reintegrate them within the NH90 program, making in-demand parts and equipment available to other users of the NH90. NHI will pay the Norwegian Government an agreed cash amount of EUR 305 Millions, in addition to amounts previously paid pursuant to bank guarantees amounting to approx. EUR 70 Millions. This solution reflects the parties’ mutual agreement to bring all related disputes to a conclusive end.

The parties have engaged in constructive cooperation and demonstrated a willingness to resolve the matter. This has occurred through dialogue with mediators at the Oslo District Court, who have conducted the process in a professional and trustworthy manner.

The parties look forward to moving ahead positively.