SAS — Earnings Release 2022

Oct 7, 2022

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

SAS Traffic figures - September 2022

Close to 2 million passengers traveled with SAS in September

In September 1.98 million passengers traveled with SAS, an increase of approximately 72% compared to the same month last year. SAS' capacity increased by approximately 53% compared with the same period last year. In comparison with last month, the total number of passengers increased with 7% and capacity was decreased by 5%. The flown load factor for September was 78%, an improvement of 24 percentage points compared to September last year.

"We are pleased to see passenger numbers increasing again in September, to the highest numbers seen since the outbreak of the pandemic. We continue making SAS a financially stable airline as the transformation plan SAS FORWARD progresses. During the month we have been able to reach agreements on a large number of aircraft and equipment lease agreements, and we are grateful to those lessors who are working constructively with us. We are continuing to pursue additional lease amendments to achieve our targets", says Anko van der Werff, President & CEO of SAS.

SAS scheduled traffic	Sep22		Change1	Nov21- Sep22	Change1
ASK (Mill.)	3,130		46.5%	28,451	100.1%
RPK (Mill.)	2,401		112.9%	19,692	211.5%
Passenger load factor	76.7%		+23.9 pp	69.2%	+24.7 pp
No. of passengers (000)	1,853		68.2%	15,195	151.9%
Geographical development, schedule	Sep22	vs.	Sep21	Nov21- Sep22 vs. Nov20-Sep21
	RPK		ASK	RPK	ASK
Intercontinental	488.3%		101.8%	586.1%	123.8%
Europe/Intrascandinavia	62.7%		29.9%	195.2%	134.8%
Domestic	31.8%		23.3%	72.6%	29.0%
SAS charter traffic	Sep22		Change1	Nov21- Sep22	Change1
ASK (Mill.)	362		150.8%	2,389	353.2%
RPK (Mill.)	320		195.3%	1,988	413.5%
Load factor	88.4%		+13.3 pp	83.2%	+9.8 pp
No. of passengers (000)	126		173.5%	745	367.2%
SAS total traffic (scheduled and charter)	Sep22		Change1	Nov21- Sep22	Change1
ASK (Mill.)	3,492		53.1%	30,840	109.2%
RPK (Mill.)	2,721		120.2%	21,680	223.1%
Load factor	77.9%		+23.7 pp	70.3%	+24.8 pp
No. of passengers (000)	1,979		72.4%	15,939	157.5%

¹ Change compared to same period last year, p p = percentage points

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

Sep22 1.11 0.85	Nominal change1 1.1% 47.0%	FX adjusted change -5.0% 38.1%
		Sep22
		78.3%
		98.8%
		110.1 %
		1.7%
		37.3%

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 tickets), rolling 12 months vs rolling 12 months previous year Carbon offsetting of passenger related emissions – Share of SAS passenger related carbon emissions compensated by SAS (EuroBonus members, youth tickets and SAS' staff travel) during the month

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 October 7, 2022.