SAS — Earnings Release 2023

May 9, 2023

SAS Traffic figures - April 2023

SAS Traffic figures - April 2023

1.9 million passengers traveled with SAS during April

1.9 million passengers traveled with SAS in April, an increase by 22 percent

compared to the same period last year. RPK increased by 28 percent compared to

the same period last year, and SAS' passenger demand continued its positive

trend. The flown load factor for April was 76 percent, an improvement by 5

percentage points compared to April last year.

"SAS continues to see positive demand evolution. In April, 1.9 million

passengers traveled with SAS, up 22 percent compared to the same month last

year. We continue to ramp up for a busy summer season and have inaugurated two

new direct intercontinental routes: From Aalborg to New York and from Gothenburg

to New York. We have also announced a new direct route between Copenhagen and

Bangkok, which will start this autumn. Thailand and the Scandinavian countries

have a long history of friendship and cooperation, and we are very proud to

bring back the direct route which our customers clearly asked for ," says Anko

van der Werff, President & CEO of SAS.

[][]

SAS total traffic Apr23 Change[1] Nov22- Apr23 Change[1]

(scheduled and

charter)

ASK (Mill.) 3,441 20.0% 17,495 21.7%

RPK (Mill.) 2,607 27.5% 12,582 42.3%

Load factor 75.8% 4.5 pp 71.9% 10.4 pp

No. of passengers 1,889 22.2% 9,921 41.5%

(000)

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

Geographical Apr23           Nov22

development, vs.          -Apr23

schedule Apr22   vs.

Nov21

-Apr22

RPK ASK RPK ASK

Intercontinental 43.6% 26.1% 76.6% 34.0%

Europe/Intrascandi 28.0% 22.7% 33.0% 19.3%

navia

Domestic 5.9% 6.8% 25.3% 12.8%

[]\\\\

Preliminary yield and PASK Apr23 Nominal change[1] FX adjusted change

Yield, SEK 1.00 -2.9% -4.2%

PASK, SEK 0.76 3.4% 2.1%

Apr23

Punctuality (arrival 15 71.3%

min)

Regularity 98.5%

Change in total CO\2 46.7%

\emissions

Change in CO\2 \emissions 3.4%

per available seat

kilometer,

Carbon offsetting of 41.0%

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, through

the agency of Erno Hildén, at 11:00 a.m. CEST on May 9, 2023.