SAS — Major Shareholding Notification 2016

Oct 13, 2016

Notification of Changes in Major Shareholdings

Changes

$\sqrt{\phantom{a}}$ Own holdings
$\Box$ On behalf of a company
On behalf of a third party

Holder (company or first name and surname)

Company name	1 First name	Surname
		Svenska staten (genom Näringsdepa riementet)

Instrument

Issuer	Class/type of shares	ISIN*
SAS AB (publ)	Stam	SE0003366871
Changes due to Acquisition Disposal	Corporate action	Other

Threshold reached/exceeded/fallen below

Percentage of voting rights
$\Box$ 5% $\Box$ 10% $\Box$ 15% $\Box$ 20% $\Box$ 25% $\Box$ 30% $\Box$ 50% $\Box$ 66 23 % $\Box$ 90%
Percentage of total number of shares
$\Box$ 5% $\Box$ 10% $\Box$ 15% $\Box$ 20% $\Box$ 25% $\Box$ 30% $\Box$ 50% $\Box$ 66 23 % $\Box$ 90%
Threshold date: 2016-10-13

Holdings of shares or depositary receipts

Eauity
Number of shares before the transaction *	70,500,000
Number of shares after the transaction.	56,700,000
Percentage of shares after the transaction16.82
Voting rights
Number before the transaction *	70,500,000
Number directly held after the transaction	56,700,000
Number indirectly held after the transaction0
Percentage directly held after the transaction17.14
Percentage indirectly held after the transaction

Resulting distribution of total holdings

Percentage of voting rights
Shares 1
Instruments - FITA_Ch. 4, section 2, first paragraph, line $2^2$
Instruments - FITA Ch. 4, section 2, first paragraph, line $33$ :
Physically settled
$Cash settled$ $\blacksquare$
Total voting rights (%)17.14
Number of shares or underlying shares through Shares 1 56,700,000
Instruments - FITA Ch. 4, section 2, first paragraph, line $2^2$
Instruments - FITA Ch. 4, section 2, first paragraph, line $33$ :
Physically settled $\overline{\phantom{a}}$
Cash settled ۰
56,700,000 Total number of shares and/or underlying shares

Finansinspektionen
Box 7821
SE-103 97 Stockholm, Sweden [Brunnsgatan 3] Tel +46 8 787 80 00 Fax +46 8 24 39 25 finansinspektionen@fi.se www.fi.se

* This information is not obligatory.

First name	Surname/Company name	Company	Voting rights	End date

When voting by proxy, the former holders of voting rights are

Chain of controlling companies

Company	Number of voting rights	Percentage of voting rights

Total group holdings

Number of voting rights56,700,000
Percentage of voting rights17.14
Number of shares

Identity of the holder

Nat. ID/Company Reg. No. 202100-3831	Full name/Company name Svenska staten
Address
Regeringskansliet, 103 33 Stockholm
E-mail address	Fax	Phone
helene.westholm@	regeningskansliet.se	+46 8 405 81 45

Signature
Place and date
Otockholm
Signature
Printed name?
Andersson

Send the signed notification to listedcompanies@fi.se

¹ Also applies to depositary receipts which grant the holder voting rights for the referenced shares.

$2$ Instruments giving the holder the right to acquire already issued shares in the company (FITA = Financial Instruments Trading Act (1991:980)).

³ Instruments not included in the previous category, but which are referenced to shares referred to in that category and with a similar economic effect to that of the instruments in that category, whether the instruments are settled physically or in cash.