SAS gives notice of non-payment of interest on Swiss bonds as part of the ongoing chapter 11 process

Scandinavian Airlines System Denmark – Norway – Sweden (“SAS”) gives notice that it will not make the interest payment due on January 14, 2023 on its CHF 200,000,000 perpetual subordinated bonds 1986ff (with an outstanding amount of CHF 127,195,000) with ISIN CH0006125253 (the “Swiss Bonds”), as part of the voluntary chapter 11 process in the U.S.

The holders of the Swiss Bonds have been notified of the non-payment in accordance with the terms and conditions for the Swiss Bonds.

For further information, please contact:

SAS press office, +46 8 797 29 44

Louise Bergström, VP Investor Relations: +46 70 997 04 93

SAS, Scandinavia’s leading airline, with main hubs in Copenhagen, Oslo and Stockholm, is flying to destinations in Europe, USA and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS aims to be the global leader in sustainable aviation. We will reduce total carbon emissions by 25 percent by 2025, by using more sustainable aviation fuel and our modern fleet with fuel-efficient aircraft. In addition to flight operations, SAS offers ground handling services, technical maintenance and air cargo services. SAS is a founder member of the Star Alliance™, and together with its partner airlines offers a wide network worldwide. Learn more at https://www.sasgroup.net