SAS — Earnings Release 2022

Mar 7, 2022

Scandinavian Airlines 195 87 Stockholm

Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

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.

SAS scheduled traffic	Feb21		Change1	Nov21- Feb22	Change1
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 development, schedule	Feb22	vs.	Feb21	Nov21- Feb22 vs. Nov20-Feb21
	RPK		ASK	RPK	ASK
Intercontinental	1,438.6%		104.0%	1,047.0%	158.4%
Europe/Intrascandinavia	948.4%		512.8%	562.6%	323.7%
Domestic	145.9%		68.0%	111.5%	31.0%
SAS charter traffic	Feb22		Change1	Nov21- Feb22	Change1
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%
SAS total traffic (scheduled and charter)	Feb22		Change1	Nov21- Feb22	Change1
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 (000)	946		319.9%	4,028	228.6%

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

Scandinavian Airlines

195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

			FX adjusted
Preliminary yield and PASK	Feb22	Nominal change1	change
Yield, SEK	1.03	-25.3%	-28.9%
PASK, SEK	0.58	63.3%	55.3%
			Feb22
Punctuality (arrival 15 min)			74.5%
Regularity			98.4%
Change in total CO2 emissions			78.8%

Change in CO2 emissions per available seat kilometer, -7.0% Carbon offsetting of passenger related emissions 47.0%

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 March 2022.