SAS — Earnings Release 2023

Dec 7, 2022

SAS Traffic figures - November 2022

SAS Traffic figures - November 2022

1.7 million passengers traveled with SAS in November

In November 1.67 million passengers traveled with SAS, an increase of

approximately 26% compared to the same month last year. SAS' capacity increased

by approximately 20% compared with the same period last year. In comparison with

last month, the total number of passengers decreased with 14% and capacity was

decreased by 17%. The flown load factor for November was 69%, an improvement of

8 percentage points compared to November last year.

"Passenger numbers are up 26%, year on year. Tracking our usual seasonality we

will see lower passenger numbers during the winter season. We keep our focus on

our transformation plan, SAS FORWARD, whilst at the same time we plan ahead.

This is why we are excited to announce network additions such as New York JFK,

as well as announcing our summer program soon", says Anko van der Werff,

President & CEO of SAS.

SAS total traffic (scheduled and charter) Nov22 Change1

ASK (Mill.) 2,933 19.7%

RPK (Mill.) 2,014 34.8%

Load factor 68.7% 7.7 pp

No. of passengers (000) 1,667 25.6%

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

Geographical development, schedule Nov22            vs.         Nov21

RPK ASK

Intercontinental 117.9% 52.7%

Europe/Intrascandinavia 8.5% 4.4%

Domestic 15.0% 9.8%

Preliminary yield and PASK Nov22 Nominal change FX adjusted change

Yield, SEK 1.12 5.6% 0.2%

PASK, SEK 0.75 18.6% 12.5%

Nov22

Punctuality (arrival 15 82.6%

min)

Regularity 98.5%

Change in total CO2 89.6%

emissions, rolling 12

months

Change in CO2 emissions 2.5%

per available seat

kilometer

Carbon offsetting of 42.3%

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 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 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 Louise

Bergström at 11:00 a.m. CEST on December 7, 2022.