Arion Banki — Proxy Solicitation & Information Statement 2020

Mar 14, 2020

THE FOLLOWING CANDIDATES ARE STANDING FOR ELECTION TO THE NOMINATION COMMITTEE AT ARION BANK'S ANNUAL GENERAL MEETING TO BE HELD 17 MARCH 2020:

Július Porfimsson. Július was born in 1965 and lives in Iceland. Július has a BSc in Business Studies. Július has been the CEO of Stoðir hf. since 2010 and sits on the board of various Private Limited Companies. Július was a member of the board of Tryggingamiðstöðin in 2010-2014 and Nordicom A/S in 2011-2016 and provided consultancy services to variety of companies. Július has not carried out work for Arion Bank except for consultancy to a company partly owned by Arion Bank in 2015-2016. Július is not a shareholder in Arion Bank.

Július has declared that he is independent according to the Corporate Governance Guidelines (published by the Icelandic Chamber of Commerce, NASDAQ OMX Iceland hf. and the Confederation of Icelandic Employers, 5th edition May 2015).

Sam Taylor. Sam was born in 1982 and lives in the United Kingdom. Sam graduated from the University of Oxford in modern history in 2004 and was admitted as a solicitor of England and Wales in 2009. Sam joined Taconic Capital in 2014 and works on Taconic's European credit and special situations strategies, which include Taconic's 23.5% holding in Arion Bank and Taconic's holding in Kaupthing, through a number of affiliated investment funds. He has been closely involved in and advised on a broad range of investments across Europe with a focus on transaction execution and ongoing monitoring, as well as having a significant role alongside the Taconic investment team in building, reviewing and improving boards and governance in both listed and private companies. Prior to joining Taconic, Sam worked at Simpson Tacher & Bartlett LLP and Linklaters LLP. Sam has not carried out any work for Arion Bank and is not a shareholder of Arion Bank.

Sam has declared that he is independent of the Company but dependent on the Company's major shareholder, Taconic Capital Advisors UK LLP, according to the Corporate Governance Guidelines (published by the Icelandic Chamber of Commerce, NASDAQ OMX Iceland hf. and the Confederation of Icelandic Employers, 5th edition May 2015).