Arion Banki — Major Shareholding Notification 2021

Feb 5, 2021

S

FINANCIAL SUPERVISORY AUTHORITY

Standard form – Notification of the acquisition or disposal of major proportions of voting rights

Voting rights attached to shares – article 85 of the act on securities transactions no. 108/2007

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached i:
   Arion banki hf., reg. no. 5810080150 (ARION, ISIN IS0000028157)

2. Reason for the notification (please tick the appropriate box or boxes):
   ☐ an acquisition or disposal of voting rights
   ☐ an acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
   ☐ an event changing the breakdown of voting rights

3. Full name of person(s) subject to the notification obligation ii:
   Taconic Capital Advisors L.P.

4. Full name of shareholder(s) (if different from the person mentioned in point 3.) iii:

5. Date of the transaction and date on which the threshold is crossed or reached iv: 04/02/2021

6. Threshold(s) that is/are crossed or reached: Crossing below 15% threshold

---

FINANCIAL SUPERVISORY AUTHORITY

1. Notified details:

A) Voting rights attached to shares
Class/type of shares (if possible using the ISIN CODE):
IS0000028157	Situation previous to the Triggering transaction		Resulting situation after the triggering transaction vi
	Number of Shares	Number of Voting rights vii	Number of shares	Number of voting rights viii		% of voting rights
			Direct	Direct ix	Indirect x	Direct	Indirect
	281,711,052	281,711,052	251,711,052	0	251,711,052	0	14.55%
SUBTOTAL A
(based on aggregate voting rights)
B) Financial Instruments
---	---	---	---	---
Resulting situation after the triggering transactionxi
Type of financial instrument	Expiration Date xii	Exercise/Conversion Period/Date xiii	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights
		SUBTOTAL B (in relation to all expiration dates)
Total (A+B) [if applicable]	number of voting rights	% of voting rights
---	---	---

---

FINANCIAL SUPERVISORY AUTHORITY

1. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable $^{\text{xlv}}$:

A: Taconic Sidecar Master Fund SPC, Segregated Portfolio 3; TCA New Sidecar III S.à r.l.
B: Taconic Opportunity Master Fund L.P.; TCA SPV I S.à r.l.
C: Taconic Master Fund 1.5 L.P.; TCA SPV I S.à r.l.

1. In case of proxy voting: [name of the proxy holder] will cease to hold [number] voting rights as of [date].

2. Additional information:

Taconic Capital Advisors L.P., in its capacity as an investment manager of funds holding securities in the issuer, has the power to vote, and to execute proxies, waivers, consents and other instruments with respect to the securities or to refrain from the exercise of such rights to vote, consent, waive, or take other action, in such manner as Taconic Capital Advisors L.P. may determine in its discretion.

Done in London on 4th February 2021

For and on behalf of

Taconic Capital Advisors L.P.

Sam Taylor