SAS — Earnings Release 2022

Jul 7, 2022

SAS Traffic figures - June 2022

SAS Traffic figures - June 2022

Close to 2 million passengers traveled with SAS in June

During June more than 1.9 million passengers traveled with SAS, an increase of

approximately 220% compared to the same month last year. SAS' capacity increased

at the same time by approximately 150% compared with the same period last year.

In comparison with last month, the total number of passengers increased with 7%

and capacity was increased by 6%. The flown load factor for June was 80%, an

improvement of 33 percentage points compared to June last year.

"Overall ticket sales have been positive in June, even if the whole aviation

ecosystem still faces challenges in the global ramp-up. The notice of strike

from the SAS Scandinavia pilots' unions started impacting our bookings toward

the end of the month. Our customers who for a long time have been longing to

travel, had their plans disrupted in the middle of summer peak season, when we

were looking forward to flying passengers. We continue our SAS FORWARD

restructuring plan in which all stakeholders need to participate in order to

secure SAS' financial stability. To successfully continue the transformation of

SAS we filed for Chapter 11 in the US on July 5. Update on the progress will be

published once available", says Anko van der Werff, President & CEO of SAS.

SAS scheduled traffic Jun22 Change1 Nov21- Jun22 Change1

ASK (Mill.) 3,045 123.2% 19,836 157.2%

RPK (Mill.) 2,419 270.1% 12,897 398.8%

Passenger load factor 79.4%         31.5 pp 65.0% 31.5 pp

No. of passengers (000) 1,812 197.5% 10,424 263.4%

Geographical Jun22           Nov21-

development, vs.          Jun22

schedule Jun21 vs.

Nov20

-Jun21

RPK ASK RPK ASK

Intercontinental 677.6% 164.9% 1,065.3% 155.0%

Europe/Intrascandi 262.5% 149.7% 500.0% 296.7%

navia

Domestic 80.3% 41.7% 122.4% 43.4%

SAS charter traffic Jun22 Change1 Nov21- Jun22 Change1

ASK (Mill.) 386 1,528.3% 1,205 1,962.1%

RPK (Mill.) 337 3,403.6% 1,006 4,269.8%

Load factor 87.2% 46.7 pp 83.5% 44.1 pp

No. of passengers (000) 133 2,879.2% 360 4,293.6%

SAS total traffic (scheduled and charter) Jun22 Change1 Nov21- Jun22 Change1

ASK (Mill.) 3,431 147.2% 21,040 170.8%

RPK (Mill.) 2,755 315.6% 13,903 433.0%

Load factor 80.3% 32.5 pp 66.1% 32.5 pp

No. of passengers (000) 1,946 217.1% 10,784 274.9%

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

Preliminary yield and PASK Jun22 Nominal change1 FX adjusted change

Yield, SEK 1.16 8.7% 4.1%

PASK, SEK 0.92 80.2% 42.7%

Jun22

Punctuality (arrival 15 67.7%

min)

Regularity 96.6%

Change in total CO2 133.4 %

emissions

Change in CO2 emissions -0.9%

per available seat

kilometer,

Carbon offsetting of 39.6%

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 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 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. CET on 7 July 2022.