SAS — Share Issue/Capital Change 2017

Nov 3, 2017

Resolution by extraordinary shareholders' meeting of SAS AB

Resolution by extraordinary shareholders' meeting of SAS AB

The extraordinary shareholders' meeting of SAS AB, on Friday, November 3, 2017,

resolved in accordance with the Board's proposal to authorize the Board, with

deviation from the preferential rights of shareholders, up until the next AGM,

to decide on issuance of no more than 66 million common shares corresponding to

almost 20 percent of the number of common shares outstanding.

Any new issue of common shares is to be conducted at market terms, which means

the subscription price for each new common share is determined through an

auction procedure, known as an accelerated book-building process.

The SAS Board of Directors has not resolved to utilize the authorization, but

now can make such a decision if market conditions and other circumstances are

favorable.