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SAS – Notice of Issuer’s election to defer the interest payment 26 October 2022

13 October 2022

To the holders of:

SE0014958005 – SAS AB (publ) SEK 5,000,000,000 subordinated perpetual floating rate callable capital securities
SE0014958013 – SAS AB (publ) SEK 1,000,000,000 subordinated perpetual floating rate callable capital securities
SE0014957999 – SAS AB (publ) SEK 1,615,000,000 unsubordinated perpetual floating rate callable capital securities

Reference is made to the terms and conditions of (i) the SEK 5,000,000,000 unsubordinated perpetual floating rate callable capital securities, (ii) the SEK 1,000,000,000 unsubordinated perpetual floating rate callable capital securities, and the SEK 1,615,000,000 unsubordinated perpetual floating rate callable capital securities  issued by SAS AB (publ) (the “Issuer”) on 26 October 2020 (jointly, the “Capital Securities”) in accordance with the respective terms and conditions for the Capital Securities (the “Terms and Conditions”).

All capitalised terms used herein and not otherwise defined in this notice shall have the meaning assigned to them in the relevant Terms and Conditions.

The Issuer hereby gives notice to all Holders of the Issuer’s outstanding Capital Securities that the Issuer elects to defer the Interest Payment on the Interest Payment Date falling on 26
October 2022 in accordance with Clause 10.1 (Deferral of Interest Payments) of the respective Terms and Conditions. It is noted that interested previously deferred in accordance with the
Terms and Conditions will remain to be Deferred Interest together with the interest so deferred pursuant to this notice.

This notice is governed by Swedish law. This notice is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell
with respect to any securities of the Issuer.

The notices can be downloaded:

SAS – Deferral of interest notice (October 2022) – State Hybrids

SAS – Deferral of interest notice (October 2022) – Commercial Hybrid

For further information, please contact the Issuer at:
Louise Bergström, VP Investor Relations
Tel: +46 70 997 04 93

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