SAS — Earnings Release 2022

Jan 10, 2023

SAS Traffic figures - December 2022

SAS Traffic figures - December 2022

One and a half million passengers traveled with SAS during December

In December almost one and a half million passengers flew with SAS, an increase

of 50% compared to the same month last year. SAS' capacity increased by 13%

versus the same period last year. In comparison with last month, the total

number of passengers decreased with 12% and capacity was decreased by 7%. The

flown load factor for December was 72%, an improvement of 15 percentage points

compared to December last year.

"Continuing the positive trend observed during autumn, December traffic came in

1.5 million passengers, an almost 50% increase compared to December 2021. We are

concentrating on ramping up ahead of the expected busy summer season. During the

month we released our extended summer program, with 20 new routes and more than

5000 weekly flights to more than 100 destinations," says Anko van der Werff,

President & CEO of SAS.

SAS total traffic (scheduled and charter) Dec22 Change1 Nov22- Dec22 Change1

ASK (Mill.) 2,714 12.7% 5,647 16.2%

RPK (Mill.) 1,945 41.6% 3,959 38.1%

Load factor 71.7% 14.6 pp 70.1% 11.1 pp

No. of passengers (000) 1,470 47.5% 3,137 35.0%

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

Geographical Dec22           Nov22

development, vs.          - Dec2

schedule Dec21 2

vs.

Nov21

-Dec21

RPK ASK RPK ASK

Intercontinental 54.2% 33.6% 78.9% 42.4%

Europe/Intrascandi 35.4% 2.5% 19.6% 3.5%

navia

Domestic 26.5% -1.3% 20.1% 4.5%

Preliminary yield and PASK Dec22 Nominal change1 FX adjusted change

Yield, SEK 1.03 14.8% 9.1%

PASK, SEK 0.73 44.2% 37.1%

Dec22

Punctuality (arrival 15 56.2%

min)

Regularity 97.9%

Change in total CO2 77.7%

emissions

Change in CO2 emissions 2.7%

per available seat

kilometer,

Carbon offsetting of 41.5%

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 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 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 10 January 2023.