SAS — Earnings Release 2021

May 7, 2021

SAS Traffic figures - April 2021

SAS Traffic figures - April 2021

Passenger numbers in April in line with preceding month.

In April, nearly 320,000 passengers flew with SAS, an increase of about 2%

compared with March. While traffic and demand remain far below normal levels,

they improved substantially compared with April last year when traffic was

essentially at a standstill at the start of the pandemic. SAS is continuing to

efficiently adapt its production to prevailing demand, which was reflected in an

unchanged load factor compared with March.

"We have noted that willingness to book strongly correlates with vaccination

levels and the relaxation of travel restrictions, and that customers are

continuing to book at short notice. There is undoubtedly a considerable pent-up

need to travel, which we hope to meet as we are now approaching the important

summer season. In the coming summer, SAS is flying to 100 destinations, which

provides us with good preconditions to meet our customers' travel needs," says

Karl Sandlund, Acting CEO of SAS.

[][]

SAS scheduled traffic Apr21 Change[1] Nov20- Apr21 Change[1]

ASK (Mill.) 983 385.4% 5 269 -68.4%

RPK (Mill.) 299 455.7% 1 543 -85.7%

Passenger load factor 30.4% +3.9 p u 29.3% -35.3 p u

No. of passengers (000) 319 240.0% 1 855 -79.9%

Geographical Apr21           Nov20-

development, vs.          Apr21

schedule Apr20    vs.

Nov19

-Apr20

RPK ASK RPK ASK

Intercontinental 2757.2% 4376.9% -95.4% -69.9%

Europe/Intrascandi 1587.2% 810.9% -88.3% -80.9%

navia

Domestic 210.0% 111.5% -61.6% -38.5%

[][]

SAS charter traffic Apr21 Change[1] Nov20- Apr21 Change[1]

ASK (Mill.) 3 -90.8% 34 -95.9%

RPK (Mill.) 1 -87.0% 13 -98.2%

Load factor 40.1% +11.8 p u 38.8% -48.4 p u

No. of passengers (000) 0.3 -76.8% 4 -98.5%

[][]

SAS total traffic Apr21 Change[1] Nov20- Apr21 Change[1]

(scheduled and

charter)

ASK (Mill.) 986 323.8% 5 303 -69.7%

RPK (Mill.) 301 381.5% 1 556 -86.5%

Load factor 30.5% +3.7 p u 29.3% -36.3 p u

No. of passengers 319 235.9% 1 859 -80.4%

(000)

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

\\\\

Preliminary yield and PASK Apr21 Nominal change FX adjusted change

Yield, SEK 1.24 -24.6% -27.3%

PASK, SEK 0.38 -13.6% -16.8%

Apr21

Punctuality (arrival 15 86.6%

min)

Regularity 99.5%

Change in total CO\2 -78.4%

\emissions, rolling 12

months

Change in CO\2 \emissions -10.6%

per available seat

kilometer

Carbon offsetting of 52%

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

Michel Fischier, VP Investor Relations, +46 70 997 06 73

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 7 May 2021.