SAS

Legal Proceedings Report • Mar 26, 2024

SAS files monthly operating reports with U.S. court and announces certain financial information for the Group

SAS files monthly operating reports with U.S. court and announces certain financial information for the Group

SAS AB ("SAS" or the "Company") and each of its subsidiaries that are subject to

the voluntary chapter 11 process in the U.S. will shortly file monthly operating

reports, containing certain financial information for the period of November 1,

2023 to February 29, 2024 with the U.S. Bankruptcy Court for the Southern

District of New York (the "Court"). All SAS companies that are subject to the

voluntary chapter 11 process are each required to file operating reports with

the Court on a monthly basis. The financial information contained in the monthly

operating reports includes items such as cash position, assets, liabilities,

revenue and profit and loss for the preceding month.

In connection with these Court filings, SAS announces certain consolidated

financial information for the SAS Group as of February 29, 2024, see table

below. The financial information has not been audited or reviewed by SAS'

auditor.

[]

Financial Information, SAS Group million SEK (million USD)[1)]

November 1, 2023 - February 29, 2024

Revenue 11,784 (1,140)

Net income for the period -2,275 (-220)

As of February 29, 2024

Total assets 55,827 (5,403)

Total liabilities 64,987 (6,289)

Cash and cash equivalents 5,698 (551)

1) Amounts in SEK have been recalculated to USD based on the Swedish Riksbank's

SEK/USD exchange rate of 10.3332 as of February 29, 2024.

SAS publishes a press release in connection with each monthly operating report

filing, other than for the months when the filings coincide with the publication

of SAS' interim reports.

Additional information about the Chapter 11 process is available at the

Company's dedicated restructuring website, https://sasgroup.net/transformation.

Court filings and other documents related to the chapter 11 process 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.

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. Seabury is also serving as restructuring advisor.

For further information, please contact:

SAS Press office, +46 8 797 29 44

Investor Relations, +46 70 997 7070

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 08:00 a.m. CET on March 26, 2024.

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