Kvika banki hf.: Proposed share buybacks

Kvika banki hf. (“Kvika”) and Arion banki hf. (“Arion”) today signed an addendum to the parties’ letter of intent executed in July 2025.

Kvika has today submitted a request to the Financial Supervisory Authority of the Central Bank of Iceland for authorisation to repurchase additional own shares in an amount of up to ISK 631,548,500, and to reduce its share capital. The Bank also intends to complete share buybacks under the existing authorisation in the amount of ISK 1,125,207,500, which was previously announced as suspended, cf. a company announcement dated 7 July 2025. Total share buybacks will therefore amount to up to ISK 1,756,756,000. The execution of the share buybacks is subject to approval by the Financial Supervisory Authority.