Islandsbanki — Proxy Solicitation & Information Statement 2024

Feb 29, 2024

islandsbanki.is

29 February 2024

Íslandsbanki hf.: Nomination Committee Report and information on candidates

The Board of Directors of Íslandsbanki hf. called the Bank's Annual General Meeting via an announcement on 29 February 2024. The meeting will be held on Thursday, 21 March 2024, 16:00 local time, in the Ballroom at the Reykjavik Edition hotel, Austurbakki 2, 101 Reykjavík. Remote participation is available, and all voting at the meeting will be conducted digitally.

In accordance with the Bank's Articles of Association, the Bank operates a Nomination Committee whose role is to nominate individuals to the Bank's Board of Directors at the Bank's Annual General Meeting or as applicable, at a shareholders' meeting where Board elections are on the agenda.

Further information on the Nomination Committee and its rules of procedure can be found on the Íslandsbanki website.

With an announcement made to the Nasdaq Iceland Exchange and an advertisement posted on the Bank's website on 11 January 2024, the Nomination Committee invited interested parties to declare their candidacy for Board membership to the Committee by 24 January 2024.

Icelandic State Financial Investments (ISFI) operates a three-member Selection Committee whose task is to nominate parties on behalf of the State who are eligible to participate in the boards of directors of banks or undertakings falling under the auspices of the agency. The Board of ISFI shall nominate candidates for election to the Board in proportion to the State's shareholding in the Bank at the time the election is held.

The Board of ISFI has nominated the persons named below, three members and one alternate, to the Board of Directors.

• Agnar Tómas Möller, member of the board of directors
• Haukur Örn Birgisson, member of the board of directors
• Valgerður Hrund Skúladóttir, member of the board of directors
• Herdís Gunnarsdóttir, alternate member of the board of directors

The Board of ISFI does not nominate other individuals for election to the Board. It was therefore the Nomination Committee's task to nominate four candidates and one alternate for Board membership.

The Íslandsbanki Nomination Committee recommends that, in addition to those nominated by ISFI, the following individuals be elected to the Íslandsbanki hf. Board of Directors at the Bank's Annual General Meeting on 21 March 2024.

• Helga Hlín Hákonardóttir, member of the board of directors
• Linda Jónsdóttir, member of the board of directors
• Stefán Pétursson, member of the board of directors
• Stefán Sigurðsson, member of the board of directors
• Páll Grétar Steingrímsson, alternate member of the board of directors

Moreover, the nomination committee recommends, in consultation with ISFI, that Linda Jónsdóttir is re-elected as chairman of the board of directors.

Further information on the aforementioned nominations provided in the attached Nomination Committee's report to the Annual General Meeting.

Neither the work of the Nomination Committee nor the deadline for submittal of applications for Board membership restricts candidates' right to declare their candidacy for Board membership at any time prior to the general deadline, which is 16:00 hrs. on 16 March 2024; i.e., five (5) days before the Annual General Meeting. Individuals who wish to declare their candidacy are requested to fill out a candidacy form, which can be found on the Íslandsbanki website.

For further information please contact Investor Relations – ir@islandsbanki.is.