· The partial annulment of the decision confirms SAS' view that the initial
decision was incorrect. This implies that SAS has been upheld on a significant
part of the points. However the ruling has limited financial effects.
  · SAS has not yet reviewed the judgment in detail. SAS will now thoroughly
review the judgment in order to determine further actions.

EU General Court has today, partially annulled the European Commission decision.

In 2015 the EU General Court annulled the European Commission's previous
decision from 2010. On 17 March 2017 the European Commission re-adopted its
decision and fined SAS Cargo and the SAS Group, alongside 11 other airlines for
participating in a global cartel in the air cargo sector. SAS was fined MEUR
70.2 but appealed the decision in May 2017 to the European Court of first
instance, the General Court. Today, the General Court has partially annulled the
European Commission's second Decision, including part of the fine of EUR 70.2
million from May 2017, which then was paid.

SAS will now review the judgment to determine any further actions and does not
exclude lodging a further appeal with the highest EU Court, the Court of Justice
of the European Union. SAS will continue to contest its liability in the civil
lawsuits that are largely based on the now partially annulled decision.

SAS remains fully committed to compliance and continues to do everything in its
power to avoid breaching antitrust regulations. SAS has implemented clear
regulations, comprehensive information, training programs for all employees and
audits, and continuously focuses on this issue at the management and Board
level.

For further information, please contact:

SAS press office: +46 8 797 29 44

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 AllianceT, and together with its partner airlines
offers a wide network worldwide. Learn more at https://www.sasgroup.net

This information was submitted for publication by Louise Bergström on 30 March
2022.