SAS — Earnings Release 2022

Mar 7, 2022

SAS Traffic figures - February 2022

SAS Traffic figures - February 2022

Increased number of travelers in February as restrictions are eased

During February 946,000 passengers traveled with SAS, an increase of 320%

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 almost 25% while

capacity was reduced by 12%. The flown load factor for February was 58%, an

improvement of 30 percentage points compared to February last year.

"Once again we saw that demand is positively impacted when travel restrictions

around the world ease. We need to stay agile and flexible as demand changes due

to unexpected events such as the pandemic or the uncertain geopolitical

situation. Our recently launched plan, SAS FORWARD will make us a competitive

sustainable airline going forward," says Anko van der Werff, President & CEO of

SAS.

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SAS scheduled traffic Feb21 Change[1] Nov21- Feb22 Change[1]

ASK (Mill.) 1,822 170.8% 8,567 150.4%

RPK (Mill.) 1,026 491.7% 4,738 384.6%

Passenger load factor 56.3%         30.5pp 55.3%  26.7 pp

No. of passengers (000) 908 303.9% 3,918 220.3%

Geographical Feb22           Nov21-

development, vs.          Feb22

schedule Feb21   vs.

Nov20

-Feb21

RPK ASK RPK ASK

Intercontinental 1,438.6% 104.0% 1,047.0% 158.4%

Europe/Intrascandi 948.4% 512.8% 562.6% 323.7%

navia

Domestic 145.9% 68.0% 111.5% 31.0%

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SAS charter traffic Feb22 Change[1] Nov21- Feb22 Change[1]

ASK (Mill.) 130 2,248.8% 457 1,652.1%

RPK (Mill.) 108 4,969.1% 349 3,401.2%

Load factor 83.2% 44.6 pp 76.3% 38.1 pp

No. of passengers (000) 38 6,793.7% 110 3,931.5%

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SAS total traffic Feb22 Change[1] Nov21- Feb22 Change[1]

(scheduled and

charter)

ASK (Mill.) 1,951 187.7% 9,023 161.8%

RPK (Mill.) 1,134 546.0% 5,087 415.1%

Load factor 58.1% 32.2 pp 56.4% 27.7 pp

No. of passengers 946 319.9% 4,028 228.6%

(000)

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

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Preliminary yield and PASK Feb22 Nominal change[1] FX adjusted change

Yield, SEK 1.03 -25.3% -28.9%

PASK, SEK 0.58 63.3% 55.3%

Feb22

Punctuality (arrival 15 74.5%

min)

Regularity 98.4%

Change in total CO\2 78.8%

\emissions

Change in CO\2 \emissions -7.0%

per available seat

kilometer,

Carbon offsetting of 47.0%

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 March 2022.