Change in number of shares and votes in SAS

SAS AB (“SAS”) has, as previously announced, successfully implemented the recapitalization plan and carried out share issues of 6,883,620,656 common shares in total. The 1,729,170,833 common shares subscribed for in the directed issue to the governments of Sweden and Denmark, the 1,163,793,087 common shares subscribed for in the set-off issue to holders of SAS’ MSEK 1,500 subordinated perpetual floating rate capital securities, the 547,413,777 common shares subscribed for in the set-off issue to holders of SAS’ MSEK 2,250 senior unsecured fixed rate bond due 24 November 2022 and 3,437,102,162 common shares out of the 3,443,242,959 common shares subscribed for in the rights issue, have been registered with the Swedish Companies Registration Office in October 2020, and the number of shares and votes in SAS has therefore increased by 6,877,479,859. The new common shares will be admitted to trading on Nasdaq Stockholm, Nasdaq Copenhagen and Oslo Børs on 3 November 2020, and cannot be traded prior to this date. The remaining 6,140,797 common shares subscribed for in the rights issue are expected to be registered with the Swedish Companies Registration Office in the beginning of November 2020.

Prior to the implementation of the recapitalization plan, there were in total 382,582,551 shares in SAS, of which all were common shares, corresponding to 382,582,551 votes.

As of 30 October 2020, there are in total 7,260,062,410 shares in SAS, of which all are common shares, corresponding to 7,260,062,410 votes.