SAS — Earnings Release 2022

Apr 7, 2022

SAS Traffic figures - March 2022

SAS Traffic figures - March 2022

1.4 million passengers traveled with SAS in March

During March more than 1.4 million passengers traveled with SAS, an increase of

360% compared to the same month last year. SAS' capacity increased at the same

time by approximately 190% compared with the same period last year. In

comparison with last month, the total number of passengers increased with more

than 50% and capacity was increased by 30%. The flown load factor for March was

69%, an improvement of 38 percentage points compared to March last year.

"The passenger numbers this month are the highest since the pandemic hit in

March 2020. The ramp-up continues and we are increasing our capacity toward the

summer peak season, also on the back of improved sales trends. We have added

flights and destinations to the Mediterranean as well as to North America, that

will be operated with our new, fuel efficient A321LR aircraft. At the same time,

the need for transformation of our company remains and we continue with the SAS

FORWARD plan, to secure a competitive and financially strong SAS for the future"

says Anko van der Werff, President & CEO of SAS.

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SAS scheduled traffic Mar22 Change[1] Nov21- Mar22 Change[1]

ASK (Mill.) 2,359 172.9% 10,926 155.0%

RPK (Mill.) 1,597 500.8% 6,335 409.5%

Passenger load factor 67.7%         37.0pp 58.0%  29.0 pp

No. of passengers (000) 1,398 346.8% 5,316 246.1%

Geographical Mar22           Nov21-

development, vs.          Mar22

schedule Mar21   vs.

Nov20

-Mar21

RPK ASK RPK ASK

Intercontinental 1,603.1% 125.6% 1,142.4% 150.9%

Europe/Intrascandi 762.9% 442.2% 604.9% 345.0%

navia

Domestic 155.9% 57.0% 121.5% 36.1%

[][]

SAS charter traffic Mar22 Change[1] Nov21- Mar22 Change[1]

ASK (Mill.) 128 2,210.3% 585 1,749.8%

RPK (Mill.) 113 4,898.7% 461 3,677.9%

Load factor 88.3% 47.5 pp 78.9% 40.3 pp

No. of passengers (000) 42 6,982.1% 152 4,472.3%

[][]

SAS total traffic Mar22 Change[1] Nov21- Mar22 Change[1]

(scheduled and

charter)

ASK (Mill.) 2,487 185.8% 11,510 166.6%

RPK (Mill.) 1,710 537.9% 6,797 441.3%

Load factor 68.8% 38.0 pp 59.0% 30.0 pp

No. of passengers 1,440 359.3% 5,467 255.2%

(000)

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

[]\\\\

Preliminary yield and PASK Mar22 Nominal change[1] FX adjusted change

Yield, SEK 1.07 -16.8% -21.9%

PASK, SEK 0.73 83.2% 71.9%

Mar22

Punctuality (arrival 15 84.4%

min)

Regularity 98.6%

Change in total CO\2 122.3%

\emissions

Change in CO\2 \emissions -5.8%

per available seat

kilometer,

Carbon offsetting of 53.1%

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 7 April 2022.