Republic of Iceland - Tender Offer - Launch

Republic of Iceland launches cash tender offer

16 MAY 2023

Full announcement including disclaimers and offer restrictions available via globenewswire

16 May 2023. The Republic of Iceland (the "Offeror") announces today an invitation (such invitation, the "Offer") to holders of its €500,000,000 0.100 per cent. Notes due 20 June 2024 (ISIN: XS2015295814) (of which €500,000,000 in aggregate nominal amount is outstanding as at the date hereof) (the "Notes") to tender their Notes for purchase by the Offeror for cash.

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"Rationale for the Offer

The rationale of the Offer is to proactively manage upcoming debt repayments."