Kópavogur, 25 October 2022

Íslandsbanki hf. (the “Issuer”) hereby gives notice to all Noteholders of the SEK 750,000,000 Floating Rate Tier 2 Notes due November 2027 with ISIN XS1722683072 issued by the Issuer (the “Notes”), of the Issuer’s intention to exercise the option to call the Notes in full on the Notes’ first call date, 23 November 2022. The call will be exercised in accordance with paragraph 18 (a) of the Final Terms (“Issuer Call”).  The call price will be 100.00%.