SAS — Capital/Financing Update 2017

Nov 17, 2017

Scandinavian Airlines SE-195 87 Stockholm, Sw eden Telephone: +46(0)8 797 0000

SAS issues MSEK 1,500 unsecured bond

SAS AB (publ) has successfully issued a senior unsecured bond on the Nordic capital market. The bond amounts to MSEK 1,500, pays a fixed coupon of 5.375% and has a tenor of 5 years with a final maturity on 24 November 2022.

The bond was well over subscribed and the proceeds will be used to refinance debt and general corporate purposes. SAS intends to list the bond at NASDAQ OMX Stockholm.

"We are pleased with the strong demand from investors and this further confirms the market's increased confidence in SAS" says Jan Torberger, Group Treasurer SAS.

Danske Bank and Nordea Bank acted as Global Coordinators and SEB and Swedbank acted Joint Bookrunners for the transaction.

SAS Investor Relations

Björn Tibell, Head of Investor Relations, +46 (0)70 997 1437

This information is information that SAS AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.30. CET on November 17, 2017.