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Icelandair: Notice regarding exercise of warrants ICEAIRW180222 and issuance of new shares

Written by Customer Service on . Posted in Public Companies.

Icelandair Group (the “Company”) issued warrants to all investors who received shares in the Company’s share offering that concluded on 17 September 2020. The warrants consist of three separate classes, each with a different ticker symbol and exercise period, as described in the prospectus, dated 8 October 2020 (the “Prospectus”).

The class of warrants with ticker symbol ICEAIRW180222 and ISIN IS0000032258 (the “Warrant Class”) will be exercisable in February 2022 as further described below. The closing date of trading in the Warrant Class will be Monday 7 February 2022. Given settlement rules this means that registered holders of the Warrant Class as of 9 February 2022 have a right, without any obligation, to purchase shares in the Company at an exercise price of 1.22 ISK per share during the exercise period.

The Board of Directors has decided the terms of the transaction as stipulated in the Prospectus. Holders of the Warrant Class will be contacted by their respective custodian
(icel: vörsluaðili) regarding payment instructions, which can take the form of a payment invoice (icel: innheimtukrafa) that are optional for holders to pay, or another form of subscription and payment as decided by each custody financial institution.

Payment of the optional invoice represents both a subscription for and payment of new shares in the Company. By not paying the optional invoice a holder is declaring that they do not intend to exercise their right according to the Warrant Class, which will then lapse and become void. Any holdings in warrant class ICEAIRW120822 would in such a case nonetheless remain valid. Payment shall be made no later than Thursday 24 February 2022. The Company does not assume any liability for the correct declaration of taxable income in respect of these or any warrants it has or may issue.

Icelandair Group will issue new shares in the Company corresponding to the total exercised warrants. Delivery of the new shares along with admittance to trading on Nasdaq Iceland‘s regulated market is expected to take place on or before Thursday 3 March 2022.

For further information regarding the warrants reference is made to the full Prospectus.

Contact information

Investors: Iris Hulda Thorisdottir, Director Investor Relations. E-mail: iris@icelandairgroup.is

Media: Asdis Petursdottir, Director Communications. E-mail: asdis@icelandair.is

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