SAS — Earnings Release 2022

May 6, 2022

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

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.

SAS scheduled traffic	Apr22		Change1	Nov21- Apr22	Change1
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 development, schedule	Apr22	vs.	Apr21	Nov21- Apr22 vs. Nov20-Apr21
	RPK		ASK	RPK	ASK
Intercontinental	1,732.3%		159.9%	1,254.7%	152.6%
Europe/Intrascandinavia	386.4%		363.9%	623.1%	349.0%
Domestic	166.3%		52.6%	129.3%	38.8%
SAS charter traffic	Apr22		Change1	Nov21- Apr22	Change1
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 (scheduled and charter)	Apr22		Change1	Nov21- Apr22	Change1
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 (000)	1,545		383.8%	7,013	277.3%

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

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

Apr22 1.03	Nominal change1 -16.5%	change -18.9%
0.73	94.3%	88.9%
		Apr22
		75.4%
		97.9%
		125.9%
		-4.4%
		50.8%

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. CET on 6 May 2022.