Islandsbanki — M&A Activity 2017

Dec 13, 2017

Correction: Íslandsbanki hf.: Result of Tender Offer

Correction: Íslandsbanki hf.: Result of Tender Offer

This is a correction of the announcement from 09:42 13.12.2017 GMT. Reason for
the correction: Update of accepted total amount and pro rata scaling factor.

Íslandsbanki announced today the results of a tender offer announced on 5
December 2017 where holders of its EUR 300,000,000 2.875 per cent notes due 27
July 2018 (ISIN XS1266140984) were invited to tender their notes for purchase by
the Bank against a cash payment. The tender offer was subject to the terms and
conditions outlined in the Tender Offer Memorandum dated 5 December 2017.

The Bank received valid tenders of EUR 158,160,000 and offers amounting to EUR
150,000,000 were accepted with a pro rata scaling factor of 96.4858%.

Further information on the tender offer results is available in the announcement
made public on the Irish Stock Exchange (www.ise.ie) where the bonds are listed.

For further information:
Investor Relations - Gunnar S. Magnusson, ir@islandsbanki.is and tel:
+354 440 4665.

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