Reykjavík, 30 June 2025 – Kaldalón hf. (“Kaldalón” or the “Company”) announces the implementation of a share buyback program based on the authorization granted by the Company’s shareholders’ meeting held on 2 July 2024.

At the shareholders’ meeting, the Board of Directors was authorized to repurchase shares in the Company, provided that legal requirements are met, for the purpose of market making and/or in accordance with Article 55 of the EU Market Abuse Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) 2016/1052, as transposed into Icelandic law by Act No. 60/2021 on Actions against Market Fraud. The authorization allows for repurchases of up to 10% of the Company’s share capital, equal to a maximum of ISK 1,119,568,483 or 111,956,848 shares (each with a nominal value of ISK 10).

In 2024, Kaldalón repurchased 33,700,150 shares for a total consideration of ISK 613,868,947 under this authorization. Following a share capital reduction announced on 30 May 2025, the Company currently holds no treasury shares.

On 30 June 2025, the Board of Directors resolved to initiate a share buyback program, with the objective of reducing the Company’s issued share capital. The Company plans to repurchase up to 15,000,000 shares, for a total purchase price not exceeding ISK 350,000,000.

The program will commence on Tuesday, 1 July 2025, and remain in effect until either of the above thresholds (volume or value) is reached, but no later than 31 December 2025.

Íslandsbanki hf. will supervise the execution of the buyback program and will make all decisions regarding share repurchases and their timing, independently of the Company.

The purchase price per share shall not exceed the higher of (i) the price in the last independent transaction or (ii) the highest current independent purchase offer in the Nasdaq Iceland trading system. Purchases will be carried out in stages, with daily purchases limited to a maximum of 25% of the average daily trading volume of Kaldalón shares on Nasdaq Iceland over the 20 trading days preceding the date of purchase, in accordance with Article 3(3) of Commission Delegated Regulation (EU) 2016/1052.

Íslandsbanki hf. will calculate the average daily trading volume and ensure compliance with the program’s regulatory limits. All transactions under the buyback program will be publicly disclosed in accordance with applicable laws and regulations.

For further information, please contact:
Jón Þór Gunnarsson, CEO
Email: jon.gunnarsson@kaldalon.is