SAS — Earnings Release 2022

Jan 11, 2022

SAS Traffic figures - December 2021

SAS Traffic figures - December 2021

One million passengers traveled with SAS during December

In December almost one million passengers flew with SAS, an increase of more

than 150% compared to the same month last year. SAS' capacity also increased by

more than 150% versus the same period last year and in comparison with last

month, capacity remained similar. The flown load factor for December was 57%, an

improvement of 24 percentage points compared to December last year.

"Christmas and New Year's traveling were busy as expected which was positive.

However, the development of the Omicron variant of COVID-19 meant that both

customer demand as well as personnel capacity were affected throughout the

industry, which had a negative impact on the actual number of flights during the

month. We continue to be affected by the pandemic and face an unpredictable

future, which means that we must be able to respond quickly to changes in

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

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SAS scheduled traffic Dec21 Change[1] Nov21- Dec21 Change[1]

ASK (Mill.) 2,310 144.3% 4,682 140.4%

RPK (Mill.) 1,301 315.8% 2,730 383.5%

Passenger load factor 56.3%        23.2 pp 58.3%  29.3 pp

No. of passengers (000) 977 151.6% 2,286 218.3%

Geographical Dec21           Nov21-

development, vs.          Dec21

schedule Dec20   vs.

Nov20

-Dec20

RPK ASK RPK ASK

Intercontinental 1,057.8% 184.9% 1,010.6% 165.3%

Europe/Intrascandi 380.0% 260.3% 556.5% 305.2%

navia

Domestic 72.1% 27.3% 109.8% 19.0%

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SAS charter traffic Dec21 Change[1] Nov21- Dec21 Change[1]

ASK (Mill.) 97 1,658.4% 176 1,191.0%

RPK (Mill.) 73 3,635.8% 138 2,585.2%

Load factor 74.8% 39.6 pp 78.3% 40.7 pp

No. of passengers (000) 20 3,834.7% 38 2,485.3%

[][]

SAS total traffic Dec21 Change[1] Nov21- Dec21 Change[1]

(scheduled and

charter)

ASK (Mill.) 2,407 153.1% 4,858 147.8%

RPK (Mill.) 1,373 336.2% 2,868 403.4%

Load factor 57.0% 24.0 pp 59.0% 30.0 pp

No. of passengers 997 156.4% 2,324 222.9%

(000)

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

[]\\\\

Preliminary yield and PASK Dec21 Nominal change[1] FX adjusted change

Yield, SEK 0.89 -29.2% -30.5%

PASK, SEK 0.50 20.4% 18.3%

Dec21

Punctuality (arrival 15 66.0%

min)

Regularity 96.6%

Change in total CO\2 4.1%

\emissions

Change in CO\2 \emissions -10.0%

per available seat

kilometer,

Carbon offsetting of 48.9%

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 11 January 2022.