SAS has accomplished an unsecured private placement of MEUR 35

SAS (Scandinavian Airlines System Denmark Norway Sweden) has on 30 July 2013
managed to accomplish a private placement of MEUR 35. The private placement is
unsecured and has a 5 years term. The funds will be used to support SAS’ longer
term liquidity level and be used to pay off upcoming unsecured maturing debt.
The private placement has been completed in accordance with current market
conditions with private investors.

Deutsche Bank has acted as a sole advisor for the transaction.