Arion Bank hf.: Arion Bank - Reduction of share capital

This announcement is published in accordance with Article 84 of the Icelandic Securities Transactions Act No. 108/2007 which states that where an issuer increases or reduces its share capital or number of voting rights, the issuer shall, on the last trading day of the calendar month in which the changes take place, make public the total number of shares and the total number of voting rights.

At the Annual General Meeting of Arion Bank hf. on 20 March 2019 a motion was passed to reduce the company's share capital by ISK 186,000,000 at nominal value, totaling 186,000,000 shares, by cancelling the company's own shares. This reduction has now taken place. The company's share capital has therefore now been reduced from ISK 2,000,000,000 to ISK 1,814,000,000 at nominal value, divided into an equal number of shares and with one vote attached to each share.

For further information please contact Sture Stolen, head of Arion Bank's investor relations, at [e-mail] or Theodor Fridbertsson, investor relations, at [e-mail], tel. [phone].