Kvika banki hf.: Transaction in connection with a share buyback program

In week 34, Kvika banki hf. (“Kvika” or “the bank”) bought 8,000,000 of its own shares at a purchase price of 127,300,000 ISK. See further details below:

Date	Time	Number of shares purchased	Stock price (price)	Purchase price
19.8.2024	11:46:05	1,500,000	16,000	24,000,000
19.8.2024	14:46:12	1,500,000	16,000	24,000,000
21.8.2024	13:56:23	3,000,000	15,850	47,550,000
23.8.2024	14:50:35	2,000,000	15,875	31,750,000
Total		8,000,000		127,300,000

The transaction is in accordance with Kvika’s buyback program announced on July 4, 2024 and based on the authorization of a Kvika shareholders’ meeting held on March 21, 2024.

Kvika held 34,031,783 of its own shares prior to the notified transaction and has thus purchased a total of 42,031,783 shares under the buyback program, which corresponds to 0.890% of the issued shares in the company. The total purchase price is 643,440,807 ISK. The buyback under the program will amount to a maximum purchase price of 1,000,000,000 ISK.

The buyback program will run from July 4, 2024 until Kvika’s annual general meeting in 2025, unless the maximum purchase price is reached before then.

The implementation of the buy-back programme must comply with the Public Limited Companies Act No. 2/1995. In addition, the buy-back programme must be implemented as provided for in Regulation of the European Parliament and of the Council No. 596/2014. on market abuse. as well as Commission Delegated Regulation (EU) 2016/1052 on regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures. which supplements this Regulation.