Kvika banki hf.: Proposed share buybacks

Group 1 - Kvika banki hf. has submitted a request to the Financial Supervisory Authority for authorization to repurchase additional own shares amounting to ISK 631,548,500 and to reduce its share capital [1] - The total planned share buybacks by Kvika will amount to ISK 1,756,756,000, which includes the previously announced buyback of ISK 1,125,207,500 that was suspended [1] - Kvika and Arion banki hf. have signed an addendum to their letter of intent, ensuring that their respective share buybacks will not affect the agreed exchange ratios related to their proposed merger [2] Group 2 - The arrangement between Kvika and Arion follows the implementation of the EU's CRR III Regulation, which introduces significant changes to capital requirements for financial institutions [2] - Preliminary discussions between Kvika and Arion with the Competition Authority are progressing well and will continue into the new year [3] - Further updates on the discussions will be provided in accordance with statutory disclosure requirements [3]