SAS traffic figures - August 2014

• SAS carried a total of 2.6 million passengers in August, up 9.1%.

• The total traffic (RPK) increased by 6.3%.

• The total capacity (ASK) was up by 3.2%.

• The total load factor increased by 2.4 p.u. to 82.9%.
Market trends, PASK and yield development

Market conditions remain challenging with declining yield and PASK. However,
since the introduction of the summer 2014 program, load factors have improved
and in August 2014, SAS reports its highest August load factor ever.

In July, SAS’ yield and PASK were down 10.7% and 8.6% respectively and currency
adjusted down 11.8% and 9.8%, both negatively affected by a revaluation in July
2013 of EuroBonus’ liability of MSEK 100. Adjusted for this item, the currency
adjusted yield and PASK were down 8.3% and 6.2% respectively. In August 2014 the
change in PASK vs. last year is expected to be negative, but not as negative as
in July 2014.

SAS scheduled traffic development in August

During the summer months, SAS opened 35 new mostly seasonal routes. These
contributed to a positive traffic development in August and a scheduled
passenger growth of 9.2%.

SAS intercontinental routes developed as expected with a load factor above 90%
and traffic growth of 2.1%, primarily driven by a positive development on the
USA routes. Due to the launch of new leisure routes, SAS
European/Intrascandinavian traffic grew strongly by 10.1% combined with
significantly higher load factors.

Domestic routes grew 3.9%. The growth was strongest in the Norwegian and Danish
domestic markets.