SAS — Share Issue/Capital Change 2018

Nov 21, 2018

SAS AB resolves on an upcoming compulsory redemption of all preference shares for total redemption proceeds of approximately SEK 1.1 billion

SAS AB resolves on an upcoming compulsory redemption of all preference shares for total redemption proceeds of approximately SEK 1.1 billion

The Board of Directors of SAS AB (publ) has resolved on the compulsory

redemption of all 2,101,552 preference shares outstanding, for approximately SEK

1.1 billion of total redemption proceeds to the holders of the preference

shares.

In accordance with the redemption provision in Article 5, item E of the Articles

of Association, the Board of Directors of SAS has decided to reduce the

company's share capital by SEK 42,241,195.20 (from SEK 7,732,150,470.30) through

the compulsory redemption of 2,101,552 preference shares. The redemption

proceeds will total SEK 1,112,078,271.84, corresponding to SEK 529.17 per

preference share (SEK 525 plus accrued dividend of SEK 4.17 per preference

share).

"The compulsory redemption of the remaining preference shares completes the

preference share redemption process we started earlier this year. I would like

to thank the preference shareholders for their support since 2014," said

Torbjørn Wist, CFO.

The following applies to the redemption of preference shares:

· In accordance with Article 5, item E of the Articles of Association, the

redemption proceeds for each redeemed preference share will be SEK 529.17, which

corresponds to 105 per cent of the issue price for each preference share and an

accrued part of preference share dividend.

· The record date for the redemption is 30 November 2018. Shareholders who

wish to divest preference shares should note that the final date for trading on

Nasdaq Stockholm is 28 November 2018. Please note that the redemption of shares

may have other tax effects than a sale of shares for certain shareholders.

· The redemption procedure is carried out automatically, meaning that the

preference shareholders do not need to take any action.

· Payment of the redemption amount of SEK 529.17 per preference share is

expected to take place on 5 December 2018. Payment will be made to the bank

account linked to each preference shareholder's securities account. For

shareholders who have their preference shares registered to a nominee with a

bank or other nominee, payment will be made according to each respective

nominee's routines.

Time table for the redemption procedure

28 November 2018           Final date for trading of SAS preference share on

Nasdaq Stockholm

30 November 2018           Record date

5 December 2018             Payment of redemption proceeds is expected to be

made

The resolution on reduction of the company's share capital through a compulsory

redemption of preference shares will take place, without obtaining permission

from the Swedish Companies Registration Office or the district court, through a

process where an amount corresponding to the reduction of the share capital (SEK

42,241,195.20) is transferred from the unrestricted shareholders' equity to the

company's statutory reserve and thus, the company's restricted equity will not

be reduced.

SAS Investor Relations

Magnus Hurst, Investor Relations, +46 70 997 45 19

This information is information that SAS AB (publ) is obliged to disclose

pursuant to the EU Market Abuse Regulation. The information was submitted for

publication, through the agency of the contact person set out above, at 19:45

CET on 21 November 2018.