Kvika banki hf.: Launch of Share Buyback Programme

At the Annual General Meeting of Kvika banki hf. (“Kvika” or the “bank”) on 18 March 2026, the shareholders authorised the board of directors to acquire up to 10% of the bank's issued share capital, including for the purpose of implementing a formal share buyback programme.

On the basis of above and following authorisation by the Financial Supervisory Authority of the Central Bank of Iceland, the board of directors of Kvika decided on 3 July 2026 to utilise part of this authorisation by establishing a share buyback programme for the repurchase of shares for an aggregate purchase price of up to ISK 2,000,000,000 and no more than 200,000,000 shares, for the purpose of reducing Kvika's issued share capital. Kvika currently holds 7,236,463 own shares.

Íslandsbanki hf. will manage the execution of the buyback programme and make all trading decisions relating to the repurchase of shares independently of Kvika.

Repurchases under the buyback programme will be carried out such that the daily purchase volume does not exceed 25% of the average daily trading volume in Kvika shares on Nasdaq Iceland during the month preceding this announcement.

Íslandsbanki hf. can, according to agreement between the parties, start the buyback on 6 July 2026 and the buyback programme will remain in effect until shares have been repurchased for an aggregate consideration of ISK 2,000,000,000 or 200,000,000 shares have been acquired, whichever occurs first, but no later than 30 April 2027.

The buyback programme will be implemented in accordance with the Icelandic Public Limited Companies Act No. 2/1995, Regulation (EU) No. 596/2014 on market abuse (MAR), Commission Delegated Regulation (EU) 2016/1052 supplementing MAR, and Act No. 60/2021 on Measures Against Market Abuse, which entered into force in Iceland on 1 September 2021. In deciding on and executing repurchases under the programme, Kvika will comply with all applicable legal and regulatory requirements. The implementation of the programme will ensure transparency in transactions involving the Bank's own shares.

Transactions in the bank's own shares under the buyback programme will be disclosed in accordance with applicable laws and regulations.

For further information, please contact Investor Relations at [email protected].