SAS

Capital/Financing Update • Jul 25, 2024

Change of record date for holders of SAS AB's commercial hybrid bonds

Change of record date for holders of SAS AB's commercial hybrid bonds

On July 19, 2024, SAS AB (publ) (the "Company") announced via a press release

that the Stockholm District Court had confirmed the Company's plan of

reorganization (the "Reorganization Plan") in its company reorganization

proceeding in Sweden (Sw. företagsrekonstruktion). The press release included

information stating that holders of the Company's listed commercial hybrid bonds

must be holders of such bonds as of Friday, July 26, 2024 (the "Record Date") to

be entitled to receive distributions under the Reorganization Plan. For

practical reasons, the Company has agreed with Intertrust (Sweden AB), in its

capacity as agent under the commercial hybrid bonds, to postpone the Record Date

until further notice. The new record date for holders of commercial hybrid bonds

will be communicated separately at a later stage through a press release.

The postponement of the Record Date will not impact the overall timeline for

SAS' emergence from its restructuring proceedings.

Information regarding SAS' U.S. chapter 11 cases and SAS AB's company

reorganization in Sweden

Additional information regarding SAS' voluntary chapter 11 cases in the U.S. and

SAS AB's company reorganization in Sweden is available on SAS' dedicated

restructuring website, https://sasgroup.net/transformation. U.S. court filings

and other documents related to the chapter 11 cases in the U.S. are available on

a separate website administered by SAS' claims agent, Kroll Restructuring

Administration LLC, at https://cases.ra.kroll.com/SAS. Information is also

available by calling (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450

(International), as well as by email at SASInfo@ra.kroll.com. Swedish court

filings related to SAS AB's company reorganization in Sweden can be requested

from the Stockholm District Court, and certain documentation is also provided by

the administrator on a separate website administered by Ackordcentralen (AC

-Gruppen AB), https://ackordscentralen.se/en/reorganisations/sas-ab/.

Advisors

Weil, Gotshal & Manges LLP is serving as global legal counsel and Mannheimer

Swartling Advokatbyrå AB is serving as Swedish legal counsel to SAS. Seabury

Securities LLC and Skandinaviska Enskilda Banken AB are serving as investment

bankers, and Seabury Securities LLC is also serving as restructuring advisor to

SAS.

For further information, please contact:

SAS press office, +46 8 797 29 44

SAS, Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and

Stockholm, flies to destinations in Europe, USA and Asia. Spurred by a

Scandinavian heritage and sustainability values, SAS aims to be the driving

force in sustainable aviation and in the transition toward net zero emissions.

We are continuously reducing our carbon emissions through using more sustainable

aviation fuel, investing in new fuel-efficient aircraft and technology

innovation together with partners - thereby contributing towards the industry

target of net zero CO2 emissions by 2050. In addition to flight operations, SAS

offers ground handling services, technical maintenance and air cargo services.

Learn more at https://www.sasgroup.net