Arion Banki

Arion Bank HF has entered into a supplemental agency agreement on 15 March 2024 (the Supplemental Agency Agreement) in order to amend and restate the final terms for Series 2021-1 Tranche 1 Covered Bonds dated 1 October 2021 (ISIN: XS2391348740) (the Series 2021-1 Tranche 1 Final Terms), the final terms for Series 2021-1 Tranche 2 Covered Bonds dated 6 April 2022 (ISIN: XS2391348740) (the Series 2021-1 Tranche 2 Final Terms and together with Series 2021-1 Tranche 1 Final Terms, the Series 2021-1 Final Terms) and Series 2021-2 Covered Bonds dated 5 July 2022 (ISIN: XS2500208991) (the Series 2021-2 Final Terms and together with the Series 2021-1 Final Terms, the Final Terms).
 
Arion Bank HF has also entered into a supplemental Deed of Covenant in relation to Series 2021-1 (ISIN: XS2391348740) and Series 2021-2 (ISIN: XS2500208991) Covered Bonds.
 
Annexed to this announcement is the Supplemental Agency Agreement, the Supplemental Deed of Covenant and the amended and restated Final Terms.

DISCLAIMER – INTENDED ADDRESSEES
The Supplemental Agency Agreement, the amended and restated Final Terms and the Supplemental Deed of Covenant do not constitute an offer of securities for sale in the United States. This is not for distribution in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or under any relevant securities laws of any state of the United States of America and are subject to U.S. tax law requirements. Subject to certain exceptions, the securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons or to persons within the United States of America, as such terms are defined in Regulation S under the Securities Act. There will be no public offering of the securities in the United States. Your right to access this service is conditional upon complying with the above requirement.