The Board has decided that the conditions for the implementation of 4 Excellence NG plan exist

- 8 of 8 new union agreements have been signed November 19 - The Danish Pilot
Union Agreement is conditional upon approval by one third of its members.

4Excellence NG is targeting approximately 3 bn SEK of annual improvement from
cost reductions and organizational restructuring and approximately 3 bn SEK
increased liquidity from asset sales

~ New 3.5 bn SEK Revolving Credit Facility from Banks and Core Shareholders to
secure financial preparedness conditional on final parliamentary approvals and
approval of the Danish Pilot Union Agreement from one third of the members of
the Danish Pilot Union
On November 12 the Board of SAS approved the 4 Excellence Next Generation (4XNG)
plan to address

the issues facing SAS. The 4XNG plan will improve EBT by approximately 3 bn SEK
on an annualized basis and improve the overall cost flexibility through:

• New union agreements for personnel

• Centralization of administration functions

• Reduction of compensation to market levels

• New pension terms

• Outsourcing of Call Centers and Ground Handling

SAS also communicated that it has reached a conditional agreement to increase
its existing 3.1 bn SEK revolving credit facility to 3.5 bn SEK and extend the
term of the facility to 31 March 2015.

This new revolving credit facility is being provided by seven current lenders
and SAS’ core shareholders (The Kingdom of Denmark, the Swedish State, the
Kingdom of Norway and KAW) on equal terms. The availability of this new
revolving credit facility is subject to final documentation, parliamentary
approval where required, and it is conditional on signed union agreements that
are a central and integral part of the 4XNG plan.

The condition to have 8 union agreements signed have been fulfilled on November
19, 2012, subject to a ballot approval by one third of the members of the Danish
Pilot Union to be finalized in the next few days. The availability of the new
revolving credit facility is still subject to parliamentary approvals (where
required).

SAS Group Investor Relations

SAS is publishing this information in accordance with the Swedish Securities
Market Act and/or the Swedish Financial Instruments Trading Act and
corresponding Danish and Norwegian legislation. This information was submitted
for publication on November 19, 2012 at 1525CET.