SAS — Earnings Release 2022

Jan 10, 2023

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

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 development, schedule	Dec22	vs.	Dec21	Nov22- Dec22 vs. Nov21-Dec21
	RPK		ASK	RPK	ASK
Intercontinental	54.2%		33.6%	78.9%	42.4%
Europe/Intrascandinavia	35.4%		2.5%	19.6%	3.5%
Domestic	26.5%		-1.3%	20.1%	4.5%

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

			FX adjusted
Preliminary yield and PASK	Dec22	Nominal change1	change
Yield, SEK	1.03	14.8%	9.1%
PASK, SEK	0.73	44.2%	37.1%
			Dec22
Punctuality (arrival 15 min)			56.2%
Regularity			97.9%

Change in total CO2 emissions 77.7% Change in CO2 emissions per available seat kilometer, 2.7% Carbon offsetting of passenger related emissions 41.5%

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 10 January 2023.