SAS — Earnings Release 2021

Jul 8, 2021

SAS Traffic figures - June 2021

SAS Traffic figures - June 2021

Continued increase in passenger numbers in June.

More than 600,000 passengers flew with SAS in June, an increase of some 50%

compared with May. As a result of increased demand, SAS raised capacity during

the month almost 30% with a final load factor of 48%, up 12 percentage points

compared with May.

"We are delighted to welcome more passengers in pace with the gradual increase

in demand. SAS is continuing to open routes to popular summer destinations and

is increasing capacity on existing routes to meet demand. In light of certain

remaining restrictions, we are doing everything we can to facilitate a smooth

travel experience for our passengers. The SAS Travel Ready Center digital tool

allows passengers track updates to travel restrictions and prepare their trip

online, thus ensuring everything is ready when they arrive at the airport," says

Karl Sandlund, acting CEO of SAS.

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SAS scheduled traffic Jun21 Change[1] Nov20- Jun21 Change[1]

ASK (Mill.) 1 364 220.5% 7 711 -55.3%

RPK (Mill.) 653 193.3% 2 586 -76.7%

Passenger load factor 47.9% -4.5 p u 33.5% -30.7 p u

No. of passengers (000) 609 85.6% 2,868 -70.5%

Geographical Jun21           Nov20

development, vs.          - Jun2

schedule Jun20 1 vs.

Nov19

-Jun20

RPK ASK RPK ASK

Intercontinental 843.7% 848.7% -91.2% -56.9%

Europe/Intrascandi 421.9% 327.8% -78.7% -69.2%

navia

Domestic 52.4% 56.9% -48.0% -25.1%

[][]

SAS charter traffic Jun21 Change[1] Nov20- Jun21 Change[1]

ASK (Mill.) 24 1344.0% 58 -93.1%

RPK (Mill.) 10 1555.7% 23 -96.9%

Load factor 40.5% +5.2 p u 39.4% -47.7 p u

No. of passengers (000) 4 4421.2% 8 -96.6%

[][]

SAS total traffic Jun21 Change[1] Nov20- Jun21 Change[1]

(scheduled and

charter)

ASK (Mill.) 1 388 224.9% 7 770 -57.1%

RPK (Mill.) 663 196.8% 2 609 -77.9%

Load factor 47.8% -4.5 p u 33.6% -31.7 p u

No. of passengers 614 86.9% 2,877 -71.2%

(000)

[1] Change compared to same period last year. p u = percentage units

\\\\

Preliminary yield and PASK Jun21 Nominal change FX adjusted change

Yield, SEK 1.07 -44.4% -44.7%

PASK, SEK 0.51 -49.2% -49.5%

Jun21

Punctuality (arrival 15 89.7%

min)

Regularity 99.0%

Change in total CO\2 -70.2%

\emissions, rolling 12

months

Change in CO\2 \emissions -12.3%

per available seat

kilometer

Carbon offsetting of 67%

passenger related emissions

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 CO\2 \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 CO\2\ emissions in total and per

Available Seat Kilometers (ASK) to align with our overall goal to reduce our

total CO\2\ 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 AllianceT, 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 Michel

Fischier at 11:00 a.m. CET on 8 July 2021.