Electronic participation was available. The meeting agenda included conventional AGM matters whereas Finnur Árnason, the Chairman of the Board of Directors, presented the report of the Board of Directors and Birna Einarsdóttir, CEO, presented the Bank's annual financial statements for 2022 and discussed the main aspects of the Bank’s operations in 2022. The Bank’s annual financial statements and a proposal to pay a dividend of ISK 6.15 per share, amounting to approximately ISK 12.3 billion, were approved. The meeting decided that Ernst & Young would continue to serve as the Bank’s auditor.

The Board of Directors and alternates were elected by acclamation. The Board of Directors is now represented by the following seven Board members:

• Agnar Tómas Möller
• Anna Þórðardóttir
• Ari Daníelsson
• Finnur Árnason
• Frosti Ólafsson
• Guðrún Þorgeirsdóttir
• Valgerður Hrund Skúladóttir

Finnur Árnason was re-elected the Chairman of the Board of Directors.

The Board of Directors is now presented by the following alternates:

• Herdís Gunnarsdóttir
• Páll Grétar Steingrímsson

The Board of Directors’ proposal on the remuneration to the Board of Directors and compensation to the members of the Board’s sub-committees was approved by the AGM as well as the proposals to amend the Bank’s Remuneration Policy and Bank’s Nomination Committees’ Rules of Procedure. Moreover, the Board of Directors’ proposals to amend the Articles of Association, reflecting the powers of the Resolution Authority of the Central Bank of Iceland to exercise their resolution powers in accordance with the Act on Resolution of Credit Institutions and Investment Firms No. 70/2020, were approved.

The AGM approved the Board of Directors proposal on the authorisation to acquire on behalf of the Bank up to 10% of issued share capital of the Bank. The authorisation shall be used to set up a formal share repurchase program or for the purpose of offering shareholders generally to sell their shares to the Bank e.g., through auction where equal treatment of shareholders is ensured.

The attached document details the results of the meeting further.

For further information please contact:
Investor Relations – Bjarney Anna Bjarnadóttir, ir@islandsbanki.is
Public Relations – Edda Hermannsdóttir, pr@islandsbanki.is

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About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.
 
Disclaimer
This press release may contain “forward-looking statements,” involving uncertainty and risks that could cause actual results to differ materially from results expressed or implied by the statements. Íslandsbanki hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. It is the investor's responsibility to not place undue reliance on these forward-looking statements which only reflect the date of this press release. Forward-looking statements should not be considered as guarantees or predictions of future events and all forward-looking statements are qualified in their entirety by this cautionary statement.