Arion Bank hf. - Consent Solicitation 2024 (XS) - Launch

Arion Bank hf. Announces Consent Solicitation in respect of €500,000,000 0.050 per cent. Fixed Rate Covered Bonds due 5 October 2026 (ISIN: XS2391348740)(The “Covered Bonds”)

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12 FEBRUARY 2024

Full announcement including disclaimers and offer restrictions available via Luxse

ARION BANK HF.

(incorporated with limited liability in Iceland)

(the "Issuer")

NOTICE

to the holders of the

€300,000,000 Series 2021-1 Tranche 1 0.050 per cent. Fixed Rate Covered Bonds due 5 October 2026 consolidated with €200,000,000 Series 2021-1 Tranche 2 0.050 per cent. Fixed Rate Covered Bonds due 5 October 2026 (ISIN: XS2391348740)

The Issuer has today given a Notice of Meeting in respect of the Covered Bonds to be held from 10.00 a.m. (London time) via teleconference on 8 March 2024 for the purpose of soliciting a consent to modify the final terms of the Covered Bonds (the Final Terms) through a Supplemental Agency Agreement and the deed of covenant executed by the Issuer on 16 July 2021 in favour of the holders of the Covered Bonds (the Deed of Covenant), to give effect to the following:

(i) the Covered Bonds will no longer be rated by S&P Global Ratings Europe Limited (S&P); and

(ii) the covenants relating to the credit ratings provided by S&P in respect of the Covered Bonds or the Issuer shall cease to apply,

all as proposed by the Issuer (the Proposal) for approval by extraordinary resolution of the Covered Bondholders, all as further described in the consent solicitation memorandum dated 12 February 2024 (the Consent Solicitation Memorandum).

It should be noted that the Covered Bonds will continue to be rated by Moody's Investor Services Limited (Moody's) and the covenants provided to support the rating from Moody’s will continue to apply."

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Arion Bank hf. Announces Final Results of Tender Offer in respect of its €300,000,000 0.625% Notes due 27 May 2024

23 MAY 2023

Full announcement including disclaimers and offer restrictions available via Luxse

"23 May 2023. Arion Bank hf. (the Bank) announces today the results of its invitation to holders of its €300,000,000 0.625% Notes due 27 May 2024 (ISIN: XS2262798494) (the Notes) to tender any and all of their Notes for purchase by the Bank for cash (the Offer)."

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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 22 May 2023. As at the Expiration Deadline, the Bank had received valid tenders of €220,357,000 in aggregate nominal amount of the Notes for purchase.

Subject to the satisfaction of the New Financing Condition, the Bank announces that it has decided to accept all of the Notes validly tendered for purchase pursuant to the Offer.

Pricing for the Offer took place at or around 11.00 a.m. (London time) today. A summary of the final results of, and pricing for, the Notes appears below:"

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Arion Bank hf. Announces Tender Offer for its €300,000,000 0.625% Notes due 2024

15 MAY 2023

Full announcement including disclaimers and offer restrictions available via Luxse

"15 May 2023. Arion Bank hf. (the Bank) announces today its invitation to holders of its €300,000,000 0.625% Notes due 2024 (ISIN: XS2262798494) (the Notes) to tender any and all of their Notes for purchase by the Bank for cash (the Offer). The Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated 15 May 2023 (the Tender Offer Memorandum) prepared by the Bank, and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum."

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"Rationale for the Offer

The Offer is being made as part of the Bank’s commitment to the active management of its balance sheet.

Details of the Offer

A summary of certain of the terms of the Offer appears below:"