SAS traffic figures - February 2014

• The scheduled traffic (RPK) decreased by 0.1%.

• SAS scheduled capacity (ASK) was up by 3.1%

• The SAS scheduled load factor decreased by 2.0 p.u. to 64.8%.

• SAS carried 1.8 million scheduled passengers in February

• The yield and PASK were down 7.4% and 9.5% respectively in January and
currency adjusted down 5.2% and 7.3%

Market trends, PASK and yield development
Overall, the competition and capacity in the Nordic market intensified combined
with a lower growth rate during the end of calendar year 2013. Although SAS has
focused on defending its yield, as expected, this development has continued in
the first quarter of the 2013/2014 financial year with a negative yield/PASK and
low growth. The yield pressure will affect the revenues even further due to the
weakening of the NOK versus last year. Demand continues to be strongest on
intercontinental routes and relatively stable on routes within Scandinavia,
while weaker on European routes.

In February 2014, SAS expects the change in yield and PASK vs. last year to
continue to be negative.