SAS

Legal Proceedings Report • Jun 12, 2024

Date for plan hearing in SAS AB's company reorganization announced

Date for plan hearing in SAS AB's company reorganization announced

SAS AB (publ) (the "Company") announces that the plan hearing in the Company's

ongoing company reorganization proceeding (Sw. företagsrekonstruktion) in Sweden

will take place at 1:00 p.m. CEST on Friday July 12, 2024.

On June 10, 2024, the Company announced the plan of reorganization in its

company reorganization proceeding in Sweden (the "Reorganization Plan"). On June

11, 2024, the Company requested that the Stockholm District Court decide to open

plan proceedings. The Stockholm District Court has today decided that the plan

hearing, during which affected parties will have the opportunity to vote on the

Reorganization Plan, will take place at 1:00 p.m. CEST on Friday July 12, 2024.

All affected parties in the company reorganization proceeding (including

creditors and holders of the Company's common shares) may participate in the

plan hearing and vote on the Reorganization Plan. Affected parties that wish to

be represented by proxy, or to grant power of attorney to the administrator to

vote in favor of the Reorganization Plan, must issue a dated written power of

attorney to such proxy or the administrator (as applicable). Proxy forms are

available on the Company's website, www.sasgroup.net/transformation.

Affected parties that wish to attend the plan hearing are encouraged to notify

the Company of their attendance in advance by e-mail to

louise.sjodahl@ackordscentralen.se to ensure that there is sufficient space in

the courtroom.

Instructions for holders of commons shares who wish to participate in the plan

hearing

Holders of the Company's common shares who wish to participate in the plan

hearing in person or by proxy must be listed as a shareholder in the

presentation of the share register prepared by Euroclear Sweden AB concerning

the circumstances on Thursday July 4, 2024. Shareholders represented by proxy

must also issue a dated written proxy for their representative, and bring the

original proxy to the plan hearing.

To be entitled to participate in the plan hearing, a shareholder whose shares

are registered in the name of a nominee must register its shares in its own name

so that the shareholder is listed in the presentation of the share register as

of the record date, July 4, 2024. Such registration may be temporary (so-called

voting right registration), and a request for such voting right registration

shall be made to the nominee, in accordance with the nominee's routines, at such

a time prior to the record date as decided by the nominee. Voting right

registrations that have been made by the nominee no later than Monday July 8,

2024 will be taken into account in the presentation of the share register.

Any shareholder whose common shares are registered with Euronext Securities

Copenhagen in Denmark must request that Euronext Investor Services temporarily

register the common shares in the shareholder's own name with Euroclear Sweden

AB to be entitled to participate in the plan hearing. A request for such voting

right registration must be received by Euronext Securities Copenhagen no later

than 3:00 p.m. CEST on Friday July 5, 2024, and can be submitted by sending a

completed and signed registration form by regular mail to Euronext Securities

Copenhagen, Nicolai Eigtveds Gade 8, DK-1402 Copenhagen, Denmark, or by email to

CPH-investor@euronext.com, or through Euronext InvestorPortalen. The

registration form and a link to Euronext InvestorPortalen are available on the

Company's website, www.sasgroup.net/transformation.

Any shareholder whose common shares are registered with Euronext Securities Oslo

in Norway must request that Nordea Norway temporarily register the common shares

in the shareholder's own name with Euroclear Sweden AB to be entitled to

participate in the plan hearing. A request for such voting right registration

must be received by Nordea Bank Abp, filial i Norge, Securities Services -

Issuer Services no later than 3:00 p.m. CEST on Friday June 28, 2024, and can be

submitted by sending a completed and signed registration form by regular mail to

P.O. Box 1166 Sentrum, NO-0107 Oslo, Norway or by email to nis@nordea.com. The

registration form is available on the Company's website,

www.sasgroup.net/transformation.

Information on record date for listed commercial hybrid bonds

For practical reasons, the number of eligible voters in the group where the

holders of the Company's listed commercial hybrid bonds are included will, in

accordance with the Reorganization Plan, be determined based on the conditions

prevailing on the record date, Friday July 5, 2024.

Information regarding SAS' U.S. chapter 11 cases and SAS AB's company

reorganization in Sweden

Additional information regarding SAS' voluntary chapter 11 cases in the U.S. and

SAS AB's company reorganization in Sweden is available on SAS' dedicated

restructuring website, https://sasgroup.net/transformation. U.S. court filings

and other documents related to the chapter 11 cases in the U.S. are available on

a separate website administered by SAS' claims agent, Kroll Restructuring

Administration LLC, at https://cases.ra.kroll.com/SAS. Information is also

available by calling (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450

(International), as well as by email at SASInfo@ra.kroll.com. Swedish court

filings related to SAS AB's company reorganization in Sweden can be requested

from the Stockholm District Court, and certain documentation is also provided by

the administrator on a separate website administered by Ackordscentralen (AC

-Gruppen AB), https://ackordscentralen.se/en/reorganisations/sas-ab/.

Advisors

Weil, Gotshal & Manges LLP is serving as global legal counsel and Mannheimer

Swartling Advokatbyrå AB is serving as Swedish legal counsel to SAS. Seabury

Securities LLC and Skandinaviska Enskilda Banken AB are serving as investment

bankers, and Seabury Securities LLC is also serving as restructuring advisor to

SAS.

For further information, please contact:

SAS press office, +46 8 797 29 44

Investor relations, +46 709 977 070

SAS, Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and

Stockholm, flies to destinations in Europe, USA and Asia. Spurred by a

Scandinavian heritage and sustainability values, SAS aims to be the driving

force in sustainable aviation and in the transition toward net zero emissions.

We are continuously reducing our carbon emissions through using more sustainable

aviation fuel, investing in new fuel-efficient aircraft and technology

innovation together with partners - thereby contributing towards the industry

target of net zero CO2 emissions by 2050. In addition to flight operations, SAS

offers ground handling services, technical maintenance and air cargo services.

Learn more at https://www.sasgroup.net