SAS traffic figures - August 2015

• SAS carried 2.4 million passengers in August, up 0.1%.
• Scheduled traffic (RPK) was down 1.1% and the capacity (ASK) was reduced by
0.3%.
• The load factor decreased by 0.7 p.u. to 80.5%.
• The currency adjusted yield and PASK were up 9.4% and 9.9% respectively in
July. The nominal yield and PASK were up 10.4% and 11,0% respectively.
Market trends

Market conditions in Scandinavia have temporarily stabilized and the balance
between capacity and demand has improved in comparison with 2014. However, the
competition remains very intensive in certain markets.

PASK and yield development

In July 2015, SAS’ currency adjusted yield and PASK were up 9.4% and 9.9%
respectively, higher than guided. The nominal yield and PASK were up 10.4% and
11,0% respectively. In August 2015 the currency adjusted PASK is expected to be
in line with last year.

SAS scheduled traffic development in July

SAS strategy is to focus on Scandinavia’s frequent travelers. During the summer
months the travel pattern amongst frequent travelers changes toward more leisure
oriented destinations. Customers have responded well to SAS seasonal
destinations, primarily offered to southern European destinations, while demand
was slightly lower for traveling within Scandinavia in August.

Scheduled capacity was decreased by 0.3% and traffic was down by 1.1%, which
resulted in a 0.7 p.u. lower load factor of 80.5%.

SAS intercontinental capacity was increased by 1,0% but the traffic was down
1.8% with load factors still at 90%. While SAS decreased its capacity on
European/ Intrascandinavian routes by 2.3%, traffic only fell 0.6% due to
positive response to the seasonal routes. Domestic traffic was down 1.2%. The
capacity was up 3.8% primarily reflecting increased capacity on Swedish domestic
routes.