SAS — Earnings Release 2021

Aug 6, 2021

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

SAS Traffic figures - July 2021

Increased traveling during the summer resulted in over a million passengers in July.

July was a month with increased numbers of travelers. More than a million passengers chose to fly with SAS, which is an increase of almost 70% compared with June. Capacity was raised during the month with increased frequency and destinations. The load factor ended at 60%, which is the highest number since February 2020.

"We see the numbers improving gradually which is pleasing. However, we do naturally remain cautious as there are still a high number of uncertainties ahead of us. Remaining travel restrictions are still affecting passengers and we do everything possible to give our customers a smooth travel experience. SAS is offering flexible tickets and rebooking possibilities. We also provide digital tools which help passengers track updates to restrictions to make it easier to travel," says Anko van der Werff, President and CEO at SAS.

SAS scheduled traffic	Jul21		Change1	Nov20- Jul21	Change1
ASK (Mill.)	2 300		75.8%	10 012	-46.1%
RPK (Mill.)	1 370		107.1%	3 956	-66.3%
Passenger load factor	59.6%		+9.0 pp	39.5%	-23.7 pp
No. of passengers (000)	1 023		46.3%	3 891	-62.7%
Geographical development, schedule	Jul21	vs.	Jul20	Nov20- Jul21 vs. Nov19-Jul20
	RPK		ASK	RPK	ASK
Intercontinental	471.3%		160.1%	-86.3%	-49.8%
Europe/Intrascandinavia	145.3%		104.3%	-63.3%	-55.3%
Domestic	10.7%		-2.8%	-41.9%	-22.7%
SAS charter traffic	Jul21		Change1	Nov20- Jul21	Change1
ASK (Mill.)	157		790.8%	215	-75.2%
RPK (Mill.)	134		831.3%	157	-79.2%
Load factor	85.6%		+3.7 pp	73.1%	-13.9 pp
No. of passengers (000)	56		882.7%	64	-74.1%
SAS total traffic (scheduled and charter)	Jul21		Change1	Nov20- Jul21	Change1
ASK (Mill.)	2 457		85.3%	10 227	-47.4%
RPK (Mill.)	1 504		122.5%	4 113	-67.1%
Load factor	61.2%		+10.2 pp	40.2%	-24.1 pp
No. of passengers (000)	1 079		53.0%	3 955	-63.0%

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	Jul21	Nominal change	change
Yield, SEK	0.87	-21.3%	-21.4%
PASK, SEK	0.52	-7.2%	-7.4%

	Jun21
Punctuality (arrival 15 min)	84.0%
Regularity	98.2%
Change in total CO2 emissions, rolling 12 months	-63.8%
Change in CO2 emissions per available seat kilometer	-13.0%
Carbon offsetting of passenger related emissions	56%

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 6 August 2021.