SAS — Earnings Release 2022

Dec 7, 2022

Scandinavian Airlines

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

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%

Scandinavian Airlines

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

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 min)	82.6%
Regularity	98.5%
Change in total CO2 emissions, rolling 12 months	89.6%
Change in CO2 emissions per available seat kilometer	2.5%
Carbon offsetting of passenger related emissions	42.3%

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. CEST on December 7, 2022.