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Acquisition by Landsbankinn hf. of Own Shares under its Buy-back Programme

On 15 September 2016 Landsbankinn hf. announced the bank would offer to acquire shares from shareholders in accordance with a buy-back programme during three specified acquisition periods. The first period was 19 September 2016 to 30 September 2016.

During the first acquisition period Landsbankinn acquired a total of 119.762.260 own shares at a share price of ISK 10.3966, for a total amount of ISK 1.245.120.325.

Neither Landsbankinn's CEO nor any managing directors of the bank sold their shares to the bank during the first repurchase period.

Prior to the first acquisition period Landsbankinn held 218.309.618 own shares and upon its conclusion owned 338.071.878, or the equivalent of 1.4% of the company's issued share capital.

Landsbankinn has acquired a total of 119.762.260 own shares under the buy-back programme, or the equivalent of 0.5% of issued share capital in the company, for a purchase price of ISK 1.245.120.325. Buy-backs under the programme will amount to a maximum of 480 million shares, or the equivalent of 2% of issued share capital.

Landsbankinn offers to acquire shares from shareholders during a second acquisition period, extending from 31 October 2016 up until and including 9 December 2016, and a third acquisition period, extending from 13 February 2017 up until and including 24 February 2017. Should the above-mentioned maximum be reached before the end of the programme, the programme will be terminated.

The implementation of this buy-back programme complies with Chapter VIII of the Act on Public Limited Companies, No 2/1995.

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