Iceland Seafood International: Bond Auction on April 2nd, 2025

Iceland Seafood International hf Registered Shs

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Reference is made to a press release from Iceland Seafood International ("ISI”), published on March 24th, 2025.

ISI will offer ISK-denominated bonds in a new series, ICESEA 28 10 on Wednesday, April 2nd, 2025.

ICESEA 28 10 is an unsecured bond with a fixed 10.00% interest rate and a maturity date of October 9th, 2028.

The bonds will be offered in a single-price auction, where all accepted bids will be allocated at the highest accepted yield. The bonds will be issued in nominal unites of ISK 20 million, and an application will be submitted for listing on the stock exchange. ISI reserves the right to accept all bids, reject all bids, or accept bids in parts.

In connection with the auction, a bond exchange offering will take place. Holders of the bond ICESEA 25 06 will have the opportunity to exchange the series for bonds in the aforementioned auction. The clean price in the exchange offer will be 100,8715 which is equivalent to an 8,65% yield. ISI reserves the right to accept, or rejects offers in part or in whole.
The expected settlement date is April 7^th, 2025.

The auction is managed by Arion Bank Capital Markets. Bids must be submitted via email to skuldabrefamidlun@arionbanki.is by 16:00 (GMT) on April 2, 2025.