Eimskipafélag Íslands — Proxy Solicitation & Information Statement 2017

Mar 2, 2017

ANNUAL GENERAL MEETING OF EIMSKIPAFÉLAG ÍSLANDS HF.

Annual General Meeting of Eimskipafélag Íslands hf. will be held on Thursday 23 March 2017 at 16:00 at the Company's headquarters in Korngardar 2, 104 Reykjavík.

PROPOSED AGENDA

1. The report of the Board of Directors on the activities of the Company for the financial year 2016
2. Confirmation of the Company's consolidated financial statements for the financial year 2016
3. Decision on the handling of the net earnings for 2016
4. Proposal on the Company's Remuneration Policy
5. Election to the Board of Directors
6. Decision on remuneration to the members of the Board of Directors, the alternate Board members and subcommittees
7. Election of auditors
8. Other issues, lawfully presented

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 13 March 2017. Further information on shareholders' rights is available on the Company's website: www.eimskip.is/investors/agm

Each share in the Company carries one vote, except Treasury Shares that do not carry voting rights. Shareholders attending the Annual General 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 Annual General 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 Annual General 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 Annual General 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 Annual General 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.is/investors/agm

FURTHER INFORMATION

Documents of the Annual General Meeting are available at the Company's website: www.eimskip.is/investors/agm

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 two weeks before the meeting. Resolution proposed by shareholders will be published at least three days prior to the meeting along with updated agenda. According to article 63 a. of Act on Public Limited Companies no. 2/1995 written notices on candidature to the Board of Directors can be announced until five days before the Annual General Meeting. Information on all candidates to the Board of Directors will be made available no later than two days before the Annual General Meeting.

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

Reykjavík, 2 March 2017

Board of Directors of Eimskipafélag Íslands hf.

EIMSKIP

Korngardar 2 | 104 Reykjavík | +354 525 7000 | eimskip.is