SAS — Earnings Release 2022

Apr 7, 2022

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

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.

SAS scheduled traffic	Mar22	Change1	Nov21- Mar22	Change1
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 development, schedule	Mar22	vs. Mar21		Nov21- Mar22 vs. Nov20-Mar21
	RPK	ASK	RPK	ASK
Intercontinental	1,603.1%	125.6%	1,142.4%	150.9%
Europe/Intrascandinavia	762.9%	442.2%	604.9%	345.0%
Domestic	155.9%	57.0%	121.5%	36.1%
SAS charter traffic	Mar22	Change1	Nov21- Mar22	Change1
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 (scheduled and charter)	Mar22	Change1	Nov21- Mar22	Change1
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 (000)	1,440	359.3%	5,467	255.2%

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

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

		FX adjusted
		change
1.07	-16.8%	-21.9%
0.73	83.2%	71.9%
		Mar22
		84.4%
		98.6%
		122.3%
		-5.8%
		53.1%
	Mar22	Nominal change1

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 7 April 2022.