SAS Delays Release of Q3 Results until 12 November 2012 at the latest

On 30 October 2012, SAS announced that it was in negotiations regarding the
extension and amount of its revolving credit facility and backstop bilateral
facilities, as well as a positive preliminary Q3 result. The finalization of
SAS’ comprehensive plan to address the company’s cost structure and complete
asset disposals is an essential part of these negotiations.

SAS has materially advanced these negotiations and the plan, and both are
expected to be finalized within a few days. Therefore, the company has decided
to delay the release of its Q3 results to no later than on 12 November 2012 at
08.00 CET, when it will announce the outcome of these negotiations and the plan
along with its final Q3 results.