Date for plan hearing in SAS AB’s company reorganization announced

SAS AB (publ) (the “Company”) announces that the plan hearing in the Company’s ongoing company reorganization proceeding (Sw. företagsrekonstruktion) in Sweden will take place at 1:00 p.m. CEST on Friday July 12, 2024.

On June 10, 2024, the Company announced the plan of reorganization in its company reorganization proceeding in Sweden (the “Reorganization Plan”). On June 11, 2024, the Company requested that the Stockholm District Court decide to open plan proceedings. The Stockholm District Court has today decided that the plan hearing, during which affected parties will have the opportunity to vote on the Reorganization Plan, will take place at 1:00 p.m. CEST on Friday July 12, 2024.

All affected parties in the company reorganization proceeding (including creditors and holders of the Company’s common shares) may participate in the plan hearing and vote on the Reorganization Plan. Affected parties that wish to be represented by proxy, or to grant power of attorney to the administrator to vote in favor of the Reorganization Plan, must issue a dated written power of attorney to such proxy or the administrator (as applicable). Proxy forms are available on the Company’s website, www.sasgroup.net/transformation.

Affected parties that wish to attend the plan hearing are encouraged to notify the Company of their attendance in advance by e-mail to louise.sjodahl@ackordscentralen.se to ensure that there is sufficient space in the courtroom.

Instructions for holders of commons shares who wish to participate in the plan hearing

Holders of the Company’s common shares who wish to participate in the plan hearing in person or by proxy must be listed as a shareholder in the presentation of the share register prepared by Euroclear Sweden AB concerning the circumstances on Thursday July 4, 2024. Shareholders represented by proxy must also issue a dated written proxy for their representative, and bring the original proxy to the plan hearing.

To be entitled to participate in the plan hearing, a shareholder whose shares are registered in the name of a nominee must register its shares in its own name so that the shareholder is listed in the presentation of the share register as of the record date, July 4, 2024. Such registration may be temporary (so-called voting right registration), and a request for such voting right registration shall be made to the nominee, in accordance with the nominee’s routines, at such a time prior to the record date as decided by the nominee. Voting right registrations that have been made by the nominee no later than Monday July 8, 2024 will be taken into account in the presentation of the share register.

Any shareholder whose common shares are registered with Euronext Securities Copenhagen in Denmark must request that Euronext Investor Services temporarily register the common shares in the shareholder’s own name with Euroclear Sweden AB to be entitled to participate in the plan hearing. A request for such voting right registration must be received by Euronext Securities Copenhagen no later than 3:00 p.m. CEST on Friday July 5, 2024, and can be submitted by sending a completed and signed registration form by regular mail to Euronext Securities Copenhagen, Nicolai Eigtveds Gade 8, DK-1402 Copenhagen, Denmark, or by email to CPH-investor@euronext.com, or through Euronext InvestorPortalen. The registration form and a link to Euronext InvestorPortalen are available on the Company’s website, www.sasgroup.net/transformation.

Any shareholder whose common shares are registered with Euronext Securities Oslo in Norway must request that Nordea Norway temporarily register the common shares in the shareholder’s own name with Euroclear Sweden AB to be entitled to participate in the plan hearing. A request for such voting right registration must be received by Nordea Bank Abp, filial i Norge, Securities Services – Issuer Services no later than 3:00 p.m. CEST on Friday June 28, 2024, and can be submitted by sending a completed and signed registration form by regular mail to P.O. Box 1166 Sentrum, NO-0107 Oslo, Norway or by email to nis@nordea.com. The registration form is available on the Company’s website, www.sasgroup.net/transformation.

Information on record date for listed commercial hybrid bonds

For practical reasons, the number of eligible voters in the group where the holders of the Company’s listed commercial hybrid bonds are included will, in accordance with the Reorganization Plan, be determined based on the conditions prevailing on the record date, Friday July 5, 2024.

Information regarding SAS’ U.S. chapter 11 cases and SAS AB’s company reorganization in Sweden

Additional information regarding SAS’ voluntary chapter 11 cases in the U.S. and SAS AB’s company reorganization in Sweden is available on SAS’ dedicated restructuring website, https://sasgroup.net/transformation. U.S. court filings and other documents related to the chapter 11 cases in the U.S. are available on a separate website administered by SAS’ claims agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/SAS. Information is also available by calling (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450 (International), as well as by email at SASInfo@ra.kroll.com. Swedish court filings related to SAS AB’s company reorganization in Sweden can be requested from the Stockholm District Court, and certain documentation is also provided by the administrator on a separate website administered by Ackordscentralen (AC-Gruppen AB), https://ackordscentralen.se/en/reorganisations/sas-ab/.

Advisors

Weil, Gotshal & Manges LLP is serving as global legal counsel and Mannheimer Swartling Advokatbyrå AB is serving as Swedish legal counsel to SAS. Seabury Securities LLC and Skandinaviska Enskilda Banken AB are serving as investment bankers, and Seabury Securities LLC is also serving as restructuring advisor to SAS.

For further information, please contact:
SAS press office, +46 8 797 29 44
Investor relations, +46 709 977 070

SAS, Scandinavia’s leading airline, with main hubs in Copenhagen, Oslo and Stockholm, flies to destinations in Europe, USA and Asia. Spurred by a Scandinavian heritage and sustainability values, SAS aims to be the driving force in sustainable aviation and in the transition toward net zero emissions. We are continuously reducing our carbon emissions through using more sustainable aviation fuel, investing in new fuel-efficient aircraft and technology innovation together with partners – thereby contributing towards the industry target of net zero CO2 emissions by 2050. In addition to flight operations, SAS offers ground handling services, technical maintenance and air cargo services. Learn more at https://www.sasgroup.net