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Ministry of Finance and Economic Affairs

Republic of Iceland Eurobond buyback

The Republic of Iceland (the "Offeror") announces today the results of its invitation to holders of its €500,000,000 0.100 per cent. Notes due 20 June 2024 (ISIN: XS2015295814) (of which €500,000,000 in aggregate nominal amount is outstanding as at the date hereof) (the "Notes") to tender their Notes for purchase by the Offeror for cash (such invitation, the "Offer").

The Offer was announced on 16 May 2023 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 16 May 2023 (the "Tender Offer Memorandum") prepared by the Offeror in connection with the Offer. Capitalised terms used in this announcement but not defined have the meaning given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer was 5.00 p.m. (CEST) on 23 May 2023.
The Offeror announces today that it has decided to accept all Notes validly tendered pursuant to the Offer and, accordingly, it will accept for purchase €258,865,000 in aggregate nominal amount of the Notes pursuant to the Offer.


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