Additional Issuance of Bonds

On February 10 th  Orkuveita Reykjavíkur (OR; Reykjavik Energy) signed an agreement with Arion Banki hf., Íslandsbanki hf., Landsbankinn hf. and Kvika Banki hf. to be designated market makers of the non-index linked green bond series, OR180242 GB.  The market makers obligations under the agreement took effect on 27 January 2022.According to the agreement, each market maker had the right to purchase a total nominal amount of ISK 100m in the series, at the agreed price in the bond auction held...

On February 10^th Orkuveita Reykjavíkur (OR; Reykjavik Energy) signed an agreement with Arion Banki hf., Íslandsbanki hf., Landsbankinn hf. and Kvika Banki hf. to be designated market makers of the non-index linked green bond series, OR180242 GB.  The market makers obligations under the agreement took effect on 27 January 2022.

According to the agreement, each market maker had the right to purchase a total nominal amount of ISK 100m in the series, at the agreed price in the bond auction held on February 24^th, 2022.

The market makers exercised their right to purchase OR180242 GB for a total nominal amount of ISK 60m at a yield of 5.39%. The settlement date for the transactions is March 18^th. The bonds will be listed on the NASDAQ Iceland Sustainable Bond market.

OR will additionally issue bonds in the new series for a total nominal amount of ISK 480m that will not be sold to investors. The additional issuance is done so OR can meet its bond lending obligations under the previously mentioned market making agreement.

Total outstanding nominal value of OR180242 GB after the additional issuance will be 6,237,500,000.

Contacts:

Benedikt K. Magnússon, CFO , tel: 516-6100, email: [email protected]

Matei Manolescu, Capital Markets, Fossar Markets, tel: 522 4008, email: [email protected]