Arion Bank hf. - Tender Offer - Launch

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:"