Ramp-up was slowed down by Omicron in January

In January 760,000 passengers traveled with SAS, an increase of 170% compared to
the same month last year. SAS' capacity also increased by approximately 170%
compared with the same period last year. In comparison with last month, the
total number of passengers decreased with almost 25% and capacity was reduced by
almost 10%. The flown load factor for January was 49%, an improvement of 19
percentage points compared to January last year.

"It will come as no surprise that Omicron had an impact on customer demand
during the month, with additional travel restrictions being imposed on our core
markets. The overall operational environment was also negatively affected due to
increased sickness rates. Winter is in general a slower season and the industry
still faces uncertainties regarding the development of the pandemic and SAS must
continue to respond to changes in demand. However, our longer-term outlook is
that we see the demand for travel increase as restrictions ease," says Anko van
der Werff, President & CEO of SAS.

[][]
SAS scheduled traffic    Jan21    Change[1]     Nov21- Jan22  Change[1]
ASK (Mill.)              2,063      157.6%         6,745       145.4%
RPK (Mill.)               982       309.8%         3,712       361.5%
Passenger load factor    47.6%          17.7pp     55.0%       25.8 pp
No. of passengers (000)   724       158.5%         3,010       201.5%

Geographical        Jan22            Nov21-
development,         vs.             Jan22
schedule                 Jan21         vs.
                                     Nov20
                                     -Jan21
                     RPK      ASK     RPK     ASK
Intercontinental    944.5%  207.6%   989.0%  179.2%
Europe/Intrascandi  361.6%  262.4%   497.2%  292.5%
navia
Domestic            84.0%    35.7%   102.4%  23.4%
[][]
SAS charter traffic      Jan22  Change[1]  Nov21- Jan22  Change[1]
ASK (Mill.)               151   2,088.6%       327       1,492.0%
RPK (Mill.)               103   3,723.5%       241       2,975.5%
Load factor              68.0%   29.1 pp      73.6%       35.5 pp
No. of passengers (000)   34    4,704.1%        72       3,200.8%
[][]
SAS total traffic  Jan22  Change[1]  Nov21- Jan22  Change[1]
(scheduled and
charter)
ASK (Mill.)        2,214   174.1%       7,072       155.4%
RPK (Mill.)        1,085   347.7%       3,953       386.8%
Load factor        49.0%   19.0 pp      55.9%       26.6 pp
No. of passengers   758    169.9%       3,082       208.0%
(000)

[1] Change compared to same period last year, p p = percentage points

[]\\
Preliminary yield and PASK   Jan22  Nominal change[1]  FX adjusted change
Yield, SEK                    0.85             -29.1%              -27.4%
PASK, SEK                     0.40              12.8%               15.5%

                                                                    Jan22
Punctuality (arrival 15                                             75.2%
min)
Regularity                                                          97.1%
Change in total CO2                                                35.2%
emissions
Change in CO2 emissions                                           -8.9%
per available seat
kilometer,
Carbon offsetting of                                                42.8%
passenger related emissions

Definitions:

RPK - Revenue passenger kilometers

ASK - Available seat kilometers
Load factor - RPK/ASK
Yield - Passenger revenues/RPK (scheduled)

PASK - Passenger revenues/ASK (scheduled)

Change in CO2 emissions per available seat kilometers - SAS passenger related
carbon emissions divided with total available seat kilometers (incl non-revenue
and EuroBonus tickets), rolling 12 months vs rolling 12 months previous year

Carbon offsetting of passenger related emissions - Share of SAS passenger
related carbon emissions compensated by SAS (EuroBonus members, youth tickets
and SAS' staff travel) during the month

From fiscal year 2020 we report change in CO2 emissions in total and per
Available Seat Kilometers (ASK) to align with our overall goal to reduce our
total CO2 emissions by 25% by 2025, compared to 2005.

For further information, please contact:

SAS press office, +46 8 797 29 44

SAS, Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and
Stockholm, is flying to destinations in Europe, USA and Asia. Spurred by a
Scandinavian heritage and sustainable values, SAS aims to be the global leader
in sustainable aviation. We will reduce total carbon emissions by 25 percent by
2025, by using more sustainable aviation fuel and our modern fleet with fuel
-efficient aircraft. In addition to flight operations, SAS offers ground
handling services, technical maintenance and air cargo services. SAS is a
founder member of the Star AllianceT, and together with its partner airlines
offers a wide network worldwide. Learn more at https://www.sasgroup.net

This is information that SAS AB is obliged to make public pursuant to the EU
Market Abuse Regulation. The information was submitted for publication by Louise
Bergström at 11:00 a.m. CET on 7 February 2022.

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