SAS — Capital/Financing Update 2018

May 23, 2018

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

SAS considers SEK 1 bn tap issue of bond maturing November 2022

In November 2017, SAS AB issued an unsecured bond of SEK 1.5 bn, maturing on 24 November 2022. The bond was well over-subscribed.

To further improve the financial flexibility for aircraft investments, upcoming debt maturities and general corporate purposes, SAS has decided to investigate the possibility to make a tap issue of the bond by up to SEK 1 bn in the beginning of June 2018.

For further information Jan Torberger, Head of Group Treasury, +46 70 997 1430

SAS Investor Relations

Björn Tibell, Head of Investor Relations, +46 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 08.00 CET on 23 May 2018.