Core Viewpoint - The Republic of Iceland has successfully completed its tender offer for its €500,000,000 0.625 per cent. Notes due 3 June 2026, accepting €203,709,000 of the notes tendered for purchase [1][3]. Group 1: Offer Details - The tender offer was announced on 19 May 2025, with an expiration deadline set for 23 May 2025 at 5.00 p.m. (CEST) [2]. - The purchase price for the accepted notes is 98.810 per cent. of their nominal amount, along with an accrued interest payment [3]. Group 2: Final Results - A total of €203,709,000 in aggregate nominal amount of the notes was validly tendered and accepted for purchase [3]. - After the settlement of the offer, €296,291,000 in aggregate nominal amount of the notes will remain outstanding [4]. Group 3: Settlement Information - The expected settlement date for the tender offer is 28 May 2025 [4].

Group 1 - The Republic of Iceland is inviting holders of its €500,000,000 0.625 per cent. Notes due 3 June 2026 to tender their Notes for cash purchase [1][2] - The Offer is subject to the terms and conditions outlined in the Tender Offer Memorandum dated 19 May 2025 [2][3] - The Offeror intends to issue new euro-denominated fixed-rate notes, with part of the proceeds used to purchase the existing Notes, aiming to manage debt repayments and extend the average debt maturity profile [4][7] Group 2 - The purchase price for the Notes will be determined based on a yield that includes a fixed spread of -15 basis points and the 1 Year Euro Mid-Swap Rate [5] - Accrued interest will also be paid on the Tender Offer Settlement Date for any Notes accepted for purchase [6] - The Offeror reserves the right to accept or reject any tenders at its discretion, and the purchase is contingent upon the successful pricing of the New Notes [8][9] Group 3 - Noteholders who wish to subscribe for New Notes in addition to tendering their existing Notes will receive priority in allocation, provided they indicate their intention to tender [10][11] - The allocation of New Notes will consider whether Noteholders have validly tendered or indicated their intention to tender [11][12] - The pricing and allocation of the New Notes are expected to occur before the Expiration Deadline for the Offer [13] Group 4 - The Offer commenced on 19 May 2025 and will expire at 5.00 p.m. (CEST) on 23 May 2025 [22] - The Tender Offer Settlement Date is expected to be 28 May 2025, subject to the Offeror's discretion to extend or amend the Offer [22] - Noteholders must submit valid Tender Instructions for a minimum nominal amount of €100,000 to participate in the Offer [19][20]