Kópavogur, 21 December 2022 Íslandsbanki hf. (the “Issuer”) hereby gives notice to all Noteholders of the EUR 300,000,000 Senior Callable Fixed Rate Notes due 19 January 2024 with ISIN XS1755108344 issued by the Issuer (the “Notes”), of the Issuer’s intention to exercise the option to call the Notes in full on the Notes’ first call date, 19 January 2023. Current outstanding nominal amount of the Notes is EUR 37,325,000. The call will be exercised in accordance with paragraph 18 (a) of the Final Terms (“Issuer Call”). The call price will be 100.00%. For further information:Investor Relations - email@example.comPublic Relations - firstname.lastname@example.org Íslandsbanki press releasesIf you wish to receive Íslandsbanki press releases by e-mail please register at:https://www.islandsbanki.is/english/investor-relations/ir-contacts/e-mail-subscription/ About ÍslandsbankiWith a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market. Disclaimer This press release may contain “forward-looking statements,” involving uncertainty and risks that could cause actual results to differ materially from results expressed or implied by the statements. Íslandsbanki hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. It is the investor's responsibility to not place undue reliance on these forward-looking statements which only reflect the date of this press release. Forward-looking statements should not be considered as guarantees or predictions of future events and all forward-looking statements are qualified in their entirety by this cautionary statement.