SAS — Earnings Release 2022

May 6, 2022

SAS Traffic figures - April 2022

SAS Traffic figures - April 2022

1.5 million passengers traveled with SAS in April

During April more than 1.5 million passengers traveled with SAS, an increase of

approximately 380% compared to the same month last year. SAS' capacity increased

at the same time by 190% 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 15%. The flown load factor for April was 71%, an improvement of

41 percentage points compared to April last year.

"We continue the ramp-up and see the highest number of passengers since March

2020. Looking forward, sales and booking trends are positive for the summer

period ahead. Traffic to and from Asia remains a challenge due to remaining

COVID-19 restrictions as well as the geopolitical situation, that impact the

recovery of far-Eastern traffic. We remain focused on building a competitive and

financially strong SAS, which will be achieved through the success of the SAS

FORWARD transformation plan", says Anko van der Werff, President & CEO of SAS.

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SAS scheduled traffic Apr22 Change[1] Nov21- Apr22 Change[1]

ASK (Mill.) 2,794 184.1% 13,720 160.4%

RPK (Mill.) 1,980 561.4% 8,316 439.0%

Passenger load factor 70.9%         40.4 pp 60.6%  31.3 pp

No. of passengers (000) 1,526 378.2% 6,842 268.8%

Geographical Apr22           Nov21-

development, vs.          Apr22

schedule Apr21   vs.

Nov20

-Apr21

RPK ASK RPK ASK

Intercontinental 1,732.3% 159.9% 1,254.7% 152.6%

Europe/Intrascandi 386.4% 363.9% 623.1% 349.0%

navia

Domestic 166.3% 52.6% 129.3% 38.8%

[][]

SAS charter traffic Apr22 Change[1] Nov21- Apr22 Change[1]

ASK (Mill.) 74 2,576.9% 658 1,816.1%

RPK (Mill.) 65 5,743.1% 526 3,849.5%

Load factor 87.6% 47.5 pp 79.9% 41.1 pp

No. of passengers (000) 19 6,626.3% 171 4,644.9%

[][]

SAS total traffic Apr22 Change[1] Nov21- Apr22 Change[1]

(scheduled and

charter)

ASK (Mill.) 2,868 190.8% 14,378 171.1%

RPK (Mill.) 2,045 580.5% 8,842 468.2%

Load factor 71.3% 40.8 pp 61.5% 32.1 pp

No. of passengers 1,545 383.8% 7,013 277.3%

(000)

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

[]\\\\

Preliminary yield and PASK Apr22 Nominal change[1] FX adjusted change

Yield, SEK 1.03 -16.5% -18.9%

PASK, SEK 0.73 94.3% 88.9%

Apr22

Punctuality (arrival 15 75.4%

min)

Regularity 97.9%

Change in total CO\2 125.9%

\emissions

Change in CO\2 \emissions -4.4%

per available seat

kilometer,

Carbon offsetting of 50.8%

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 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 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

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 6 May 2022.