This announcement is published in accordance with Article 19 of the Icelandic  Act on Disclosure Requirements for Issuers of Financial Instruments, No. 20/2021 which states that where an issuer increases or reduces its share capital or number of voting rights, the issuer shall, on the last trading day of the calendar month in which the changes take place, make public the total number of shares and the total number of voting rights.

The Annual General Meeting of Arion Bank hf. held on 16 March 2022 approved to reduce the company’s share capital by ISK 150,000,000 nominal value, totalling 150,000,000 shares, by cancelling the company’s own shares. This reduction was effective from 4 April 2022. The company’s share capital was reduced from ISK 1,660,000,000 to ISK 1,510,000,000 at nominal value, divided into an equal number of shares and with one vote attached to each share.