Eimskipafélag Íslands — AGM Information 2018

Aug 10, 2018

MEETING INVITATION

A Shareholders' Meeting of Eimskipafélag Íslands hf. hf., reg. no. 690409-0460, will be held on 6 September 2018 at 16:00 at the Company's offices at Korngarðar 2.

Following matters will be on the agenda:

1. Election of the Board of Directors.

Five persons will be elected to the Board of Directors and two to the Alternate Board of Directors.

Notes relating to the proposal:

Samherji Holding ehf. recently acquired 25.3% of shares in Eimskipafélag Íslands hf. and has now requested a shareholders meeting to elect the Board of Directors. Therefore the Board of Directors calls for a shareholders meeting.

2. Other matters.

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Rules on participation and voting

Shareholders are entitled to put items on the agenda, table proposed resolutions and ask questions, in writing or by electronic means. Request thereon shall include reasoning or a proposed resolution and has to be delivered to the Board of Directors no later than 10 days before the meeting, by 16:00 GMT on 27 August 2018. Further information on shareholders' rights is available on the Company's website: www.eimskip.com/investors

According to article 63 a. of Act on Public Limited Companies no. 2/1995 written notices on candidature to the Board of Directors shall be announced five days before the shareholders meeting. Forms for declaration of candidacy to the Board of Directors can be accessed at the Company's offices. Information on all candidates to the Board of Directors will be made available no later than two days before the shareholders meeting.

Each share in the Company carries one vote, except Treasury Shares that do not carry voting rights. Shareholders attending the meeting in person will be registered at the entrance of the meeting and will receive their ballot and other relevant documents. Shareholders who do not attend the meeting in person can vote on items on the agenda in writing, or by issuing a power of attorney. Shareholders will not be able to vote electronically at the meeting.

A shareholder's request to vote in writing must be received by the Company no later than five days prior to the meeting. Shareholders can request to have their ballot sent to them or claim their ballots at the Company's headquarters where they can cast their votes on business days from 9:00 to 16:30. Votes must be received by the Company prior to the

meeting. Shareholders can grant written power of attorney, subject to certain formalities identified on the Company's website. Written powers of attorney must be received by the Company prior to the meeting or when registering for the meeting. Further information on the voting rules and use of powers of attorney are available on the Company's website: www.eimskip.com/investors

Further information

Documents of the meeting are available at the Company's website: www.eimskip.com/investors

Shareholders can also access the documents at the Company's headquarters in Korngardar 2, 104 Reykjavík, on business days from 9:00 to 16:30.

The final agenda and proposals from the Board of Directors will be published one week before the meeting. Resolution proposed by shareholders will be published one week prior to the meeting along with updated agenda.

Shareholders and holders of power of attorney can register for the meeting on the meeting day from 15:30 at the Company's headquarters.

Reykjavík, 10 August 2018,

Board of Directors of Eimskipafélag Íslands hf.