SAS — Earnings Release 2021

Sep 7, 2021

Scandinavian Airlines 195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515

www.sasgroup.net

SAS Traffic figures - August 2021

In August over one million passengers traveled with SAS

During the summer season the customer demand has increased, and more than one million passengers flew with SAS in August. This is about the same level as in July, but an increase of almost 52% compared to the same month last year. Capacity was marginally lower than last month, but 65% higher than the same month last year. The total load factor for August ended at 61%, which is in line with July.

"Imposed travel restrictions remain and everybody at SAS are doing everything possible to make traveling easier for the customers. We continue to open new routes when travel restrictions and demand allow. However, there are still major uncertainties regarding the development of the pandemic, affecting the whole airline industry negatively. Flexibility during the ramp up phase to be able to respond quickly to changes in demand remains key," says Anko van der Werff, President and CEO at SAS.

SAS scheduled traffic	Aug21		Change1	Nov20- Aug21	Change1
ASK (Mill.)	2,068		58.7%	12,080	-39.2%
RPK (Mill.)	1,239		103.7%	5,195	--58.0%
Passenger load factor	59.9%		13.3 pp	43.0%	-19.1 pp
No. of passengers (000)	1,038		48.4%	4,929	-55.7%
Geographical development, schedule	Aug21	vs.	Aug20	Nov20- Aug21 vs. Nov19-Aug20
	RPK		ASK	RPK	ASK
Intercontinental	429.9%		154.5%	-80.7%	-43.4%
Europe/Intrascandinavia	128.9%		72.4%	-52.6%	-46.1%
Domestic	16.7%		-0.8%	-36.7%	-20.5%
SAS charter traffic	Aug21		Change1	Nov20- Aug21	Change1
ASK (Mill.)	168		211.4%	383	-58.5%
RPK (Mill.)	122		183.3%	279	-65.0%
Load factor	72.5%		-7.2 pp	72.8%	-13.7 pp
No. of passengers (000)	49		172.2%	113	-57,4%
SAS total traffic (scheduled and charter)	Aug21		Change1	Nov20- Aug21	Change1
ASK (Mill.)	2,236		64.7%	12,462	-40.1%
RPK (Mill.)	1,361		108.9%	5,473	-58.4%
Load factor	60.9%		12.9 pp	43.9%	-19.3 pp
No. of passengers (000)	1,087		51.5%	5,043	-55.7%

¹ Change compared to same period last year. pp = percentage points

Scandinavian Airlines

195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

			FX adjusted
Preliminary yield and PASK	Aug21	Nominal change1	change
Yield, SEK	0.96	-17.0%	-17.5%
PASK, SEK	0.57	6.5%	5.9%
			Aug21
Punctuality (arrival 15 min)			87.4%

98.8%
-56,7%
-13,1%
54%

Definitions:

RPK – Revenue passenger kilometers ASK – Available seat kilometers Load factor – RPK/ASK Yield – Passenger revenues/RPK (scheduled) PASK – Passenger revenues/ASK (scheduled) Change in CO2 emissions per available seat kilometers – SAS passenger related carbon emissions divided with total available seat kilometers (incl. non-revenue and EuroBonus), rolling 12 months Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS' staff travel)

From fiscal year 2020 we report change in CO² emissions in total and per Available Seat Kilometers (ASK) to align with our overall goal to reduce our total CO² emissions by 25% by 2025, compared to 2005.

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, is flying to destinations in Europe, USA and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS aims to be the global leader in sustainable aviation. We will reduce total carbon emissions by 25 percent by 2025, by using more sustainable aviation fuel and our modern fleet with fuel-efficient aircraft. In addition to flight operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founder member of the Star Alliance™, and together with its partner airlines offers a wide network worldwide. Learn more at https://www.sasgroup.net

This is information that SAS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Louise Bergström at 11:00 a.m. CET on 7 September 2021.