NASDAQ Iceland hf.: Settlement procedure due to Nasdaq CSD Iceland's transition to a new system

Nasdaq CSD Iceland (NCSDI) is planning a transition to a new settlement system
on May 25, 2020. With reference to an announcement from NCSDI, which can be
seen here, there will be no settlement of trades on that date. May 25, 2020
will thus be declared a non-settlement day. This entails that trades done on
Wednesday May 20, 2020 will be settled on Tuesday May 26th (instead of Monday
May 25th as per usual). Also, trades done on Friday May 22nd will be settled on
Wednesday May 27th (instead of Tuesday May 26th as per usual). For these two
dates only, the settlement procedure will be T+3 affecting, among other things,
the calculations of accrued interests and indexations factors. 

Settlement days for all trades executed on other dates will remain the same
(T+2) 

See further explanation in the table below:

Weekday    Trade date  Settlement date  Settlement procedure
------------------------------------------------------------
Monday     18.5.2020   20.5.2020        T+2                 
------------------------------------------------------------
Tuesday    19.5.2020   22.5.2020        T+2                 
------------------------------------------------------------
Wednesday  20.5.2020   26.5.2020        T+3                 
------------------------------------------------------------
Thursday   21.5.2020   holiday                              
------------------------------------------------------------
Friday     22.5.2020   27.5.2020        T+3                 
------------------------------------------------------------
Monday     25.5.2020   27.5.2020        T+2                 
------------------------------------------------------------
Tuesday    26.5.2020   28.5.2020        T+2                 
------------------------------------------------------------



For further information concerning this notice please contact Nasdaq Iceland,
telephone [phone], or e-mail [e-mail]