Publication of prospectus regarding issue of preference shares in SAS

As previously announced today, SAS AB (“SAS”) has resolved to launch an offer to
institutional investors and the general public in Denmark, Norway and Sweden of
approximately 4 million preference shares totalling approximately SEK 2 billion.

The Board of Directors of SAS has prepared a prospectus regarding the offer and
the listing of the new preference shares on NASDAQ OMX Stockholm, which has been
approved by the Swedish Financial Supervisory Authority. The prospectus is
available on SAS’s website, www.sasgroup.net under Investor Relations, on the
website of Carnegie www.carnegie.se, on the website of Nordea, www.nordea.se
under Sparande/Handla och placera, and on the website of SEB
www.seb.se/prospekt. The prospectus can also, to the extent permissible under
applicable securities regulations, be ordered from Nordea by telephone: +46
8 534 921.

An information brochure will be distributed on or around 10 February 2014 to
shareholders in Scandinavia who are directly registered with Euroclear Sweden
AB, and an information letter will be distributed to Scandinavian shareholders
registered with Danish VP Securities or Norwegian VPS, with further information
on how to participate in the offer. The information brochure is also available
on the website of SAS, www.sasgroup.net, under Investor Relations. Shareholders
with nominee registered shares should contact the relevant nominee for further
information and instructions.