NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the United States) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. 

Íslandsbanki hf. (the Offeror) announces today the results of its invitation to holders of its outstanding €300,000,000 7.375 per cent. Senior Preferred Notes due 17 May 2026 (ISIN: XS2553604690) (the Notes) to tender any and all of their Notes for purchase by the Offeror for cash (such invitation, the Offer), as further described in the attached announcement. 

The Offer was announced on 17 June 2024 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 17 June 2024 prepared by the Offeror, and subject to the amendments to the terms of the Offer as set out in an extension announcement published by the Offeror on 25 June 2024. 
 
The Offeror received valid tenders of €272,657,000 in aggregate principal amount of the Notes for purchase pursuant to the Offer, which amounts to 90.89 per cent. of the outstanding principal amount of the Notes. All valid tenders were accepted. If the Offeror satisfies the requirements of the terms and conditions of the Notes (the Conditions), then the Offeror intends to exercise its clean-up redemption option in respect of the remaining Notes which were not validly tendered in and accepted for purchase pursuant to the Offer, notice of which will be given pursuant to the Conditions. 

Joint Lead Managers for the transaction were Deutsche Bank Aktiengesellschaft and NatWest Markets N.V.