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Arion Bank proposes merger talks with Kvika Banki

MAR

The Board of Directors of Arion Bank decided at a meeting today to contact the Board of Directors of Kvika Banki to request the initiation of merger talks between the two companies. A letter regarding this matter has been sent to the Chairman of the Board and the CEO of Kvika Banki.

The Board of Arion Bank believes that merging the companies would create considerable value for shareholders of both companies. The merger would offer opportunities for increased revenue, risk diversification, operational optimization and reduced funding cost. Merging the companies could accordingly increase efficiency in the Icelandic financial market, benefitting clients of both companies.

If the Board of Kvika Banki agrees to enter into negotiations, Arion Bank hopes that discussions can start as soon as possible. The Board of Arion Bank recommends that the exchange ratio be determined based on the market value of the companies over a mutually agreed reference period, as appropriate.

The letter from the Board of Arion Bank to the Board of Kvika Banki is attached.

For further information please contact:

Theodór Friðbertsson, Investor Relations at Arion Bank, ir@arionbanki.is, tel. +354 856 6760 or Haraldur Guðni Eiðsson, Head of Corporate Communications, samskiptasvid@arionbanki.is, tel. +354 856 7108.

This information is information that Arion Bank is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-27 16:58 GMT.

Attachments

2025 5 27 Letter To The Chairman And CEO Of Kvika Banki

Datum 2025-05-27, kl 18:58
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2025 5 27 Letter To The Chairman And CEO Of Kvika Banki
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