Islandsbanki — AGM Information 2017

Mar 23, 2017

PROPOSALS

Annual General Meeting
23 March 2017

Íslandsbanki

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Íslandsbanki

Íslandsbanki hf.
Proposals to the Annual General Meeting
23 March 2017

1. Proposal for the allocation of profits and payment of dividends 2016

The Board of Directors of Íslandsbanki proposes 10 billion kronas of net profit in 2016 will be paid in dividends to shareholders. The dividend payment amounts to nearly 50% of net profit in 2016 and is therefore in accordance with the bank's long term dividend policy of a 40-50% dividend payout ratio. The Board may convene a special shareholder meeting later in the year where a proposal regarding payment of dividends of profit for the previous fiscal years could be suggested.

1. Proposal for the election of members to the Board of Directors

Shareholders propose that the annual general meeting of Íslandsbanki hf. elects the following persons as members, and alternates, on the Board of Directors of Íslandsbanki for a term of up until the next Annual General Meeting.

Board of Directors: Alternates:
Friðrik Sophusson
Anna Þórðardóttir
Auður Finnbogadóttir
Árni Stefánsson
Hallgrímur Snorrason
Heiðrún Jónsdóttir
Helga Valfells

Herdís Gunnarsdóttir
Pálmi Kristinsson

and that Friðrik Sophusson be elected as Chairman.

1. Proposal for the appointment of external auditors

The Board of Directors of Íslandsbanki proposes the annual general meeting of Íslandsbanki hf. elects Ernst & Young as the bank's auditing firm.

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Íslandsbanki

4. Proposal for the Board of Directors' remuneration for the coming term

The Board of Directors of Íslandsbanki proposes that the annual general meeting of Íslandsbanki hf. resolves to pay remuneration to members of the board of directors for their services on the board of directors in the amount of ISK 400,000 per month and ISK 700,000 per month to the Chairman of the Board. In addition to that each board member shall be paid remuneration in the amount of ISK 200,000 per month for services on sub-committees. In addition to this the chairmen of sub-committees shall be paid ISK 25,000 per month.

Alternate members of the board shall be paid remuneration in the amount of ISK 200,000 for each meeting they attend and meetings with the Financial Supervisory Authority on the Fit and Proper Assessment of Managing Directors and Directors of Financial Undertakings. Remuneration to alternate members shall be at least ISK 400,000 per annum. Remuneration to alternate members shall not exceed ISK 400,000 per month.

5. Proposal for the Compensation Policy

The Board of Directors of Íslandsbanki proposes that the annual general meeting approves the enclosed compensation policy for the bank.

6. Other matters

None.

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