ÍL Fund: Switch auction in relation to the purchase of IBN 38 0101 against RIKS 34 1016

Core Viewpoint - ÍL Fund is conducting a switch auction on September 30, 2025, offering to purchase IBN 38 0101 at a clean price of 42.7676, yielding 3.45%, in exchange for the inflation-linked government bond series RIKS 34 1016 at a clean price of 104.1411, yielding 2.97% [1]. Group 1 - The auction will take place between 10:30 and 11:00 hrs, with results announced at 12:00 on the same day [1]. - Bids for the inflation-linked bond series must be submitted as nominal amounts, with a settlement date set for October 7, 2025 [2]. - ÍL Fund reserves the right to accept bids partially or reject all bids [2]. Group 2 - The arranger for the switch auction is Government Debt Management, a department of the Central Bank of Iceland [3]. - Primary dealers in government securities, including Arion banki hf., Fossar Investment Bank hf., Íslandsbanki hf., Kvika banki hf., and Landsbankinn hf., are invited to act as intermediaries [3]. - The Bloomberg trading and auction system will be utilized for the auction [3]. Group 3 - Owners of IBN 38 0101 interested in participating in the switch auction are advised to contact primary dealers in Treasury securities [3]. - Further information regarding the auction terms can be obtained from Government Debt Management [4].