SAS — Earnings Release 2023

Aug 7, 2023

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

SAS Traffic figures – July 2023

2.4 million passengers traveled with SAS during July

2.4 million passengers traveled with SAS in July, the highest monthly passenger figure since before the pandemic. The number of passengers increased with 82 percent compared to the same month last year, which was negatively impacted by the pilot strike. SAS' capacity increased by 84 percent and RPK by 92 percent, compared to the same month last year. The flown load factor was 86 percent during the month.

"The summer season continued with another busy month for SAS. 2.4 million passengers traveled with SAS in July, the highest passenger figure since before the pandemic. We are pleased to see the positive trend for passenger demand, with continued booking strength throughout the month of July", says Anko van der Werff, President & CEO of SAS.

SAS total traffic (scheduled and charter)	Jul23	Change1	Nov22- Jul23	Change1
ASK (Mill.)	4,872	84.1%	30,148	27.3%
RPK (Mill.)	4,177	92.1%	22,892	42.4%
Load factor	85.7%	3.5 pp	75.9%	8.1 pp
No. of passengers (000)	2,415	82.3%	16,894	39.5%

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

Geographical development, schedule	Jul23	vs.	Jul22	Nov22-Jul23 vs. Nov21-Jul22
	RPK		ASK	RPK	ASK
Intercontinental	145.9%		161.2%	67.6%	41.1%
Europe/Intrascandinavia	73.5%		69.3%	35.9%	24.9%
Domestic	118.6%		88.2%	26.9%	16.3%

			FX adjusted
Preliminary yield and PASK	Jul23	Nominal change1	change
Yield, SEK	1.03	-1.6%	-5.5%
PASK, SEK	0.87	0.1%	-3.8%

	Jul23
Punctuality (arrival 15 min)	62.6%
Regularity	97.5%
Change in total CO2 emissions	35.6%
Change in CO2 emissions per available seat kilometer	1.9%
Carbon offsetting of passenger related emissions	34.6%

Definitions:

RPK – Revenue passenger kilometers ASK – Available seat kilometers Load factor – RPK/ASK Yield – Passenger revenues/RPK (scheduled) PASK – Passenger revenues/ASK (scheduled)

Scandinavian Airlines

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

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, through the agency of Erno Hildén, at 11:00 a.m. CEST on August 7, 2023.