SAS transfers a landing and take-off right (”slot-pair”) at London Heathrow and generates a positive earnings impact of MUSD 60

SAS has entered into a slot transaction with a major international air carrier
that will take over one slot-pair at London Heathrow from SAS at the beginning
of the summer traffic program on 29 March 2015.

The transaction will generate a positive earnings impact of the equivalent of
MUSD 60 for SAS to be accounted for during the second quarter of the fiscal year
2014/2015 with a corresponding cash effect during the fiscal year 2014/2015.
SAS is the fifth largest airline operating at London Heathrow measured in number
of departures and had before this transaction 21 daily slot-pairs at London
Heathrow, which now will be reduced to 20 daily slot-pairs.

SAS operates from London Heathrow to Copenhagen, Gothenburg, Oslo, Stockholm and
Stavanger. Even after the transaction, SAS will continue to offer a strong and
comprehensive network between Scandinavia and London Heathrow. The intention is
to keep the seat capacity to/from London Heathrow through the use of larger
aircraft on remaining departures. Furthermore, SAS will consider the use of
other airports in the London-region.

SAS Investor Relations