Festi hf.: Notification regarding execution of a buyback program

Core Points - The shareholders of Festi approved a buyback program to purchase up to 10% of issued shares to reduce share capital and meet stock option obligations [1] - The Board of Directors decided to buy back a maximum of 2,500,000 shares, representing 0.80% of total shares, with a total purchase price not exceeding ISK 800 million [2] - The buyback will occur in stages, with a daily limit of 100,000 shares, which is 12.57% of the average daily trading volume on Nasdaq OMX Iceland [3] - The buyback program will be effective from June 30, 2025, until December 31, 2025, unless the maximum buyback amount is reached earlier [4] - Arion Banki hf. will supervise the buyback program and make independent decisions regarding share acquisitions [4] - The buyback will comply with relevant regulations, including the Act on Public Limited Companies and market abuse regulations [5] - Currently, Festi owns 246,226 shares, which is 0.08% of the issued share capital [6]