Arion Bank hf.: Empl­oyee Share Option Plan

Following the publication of Arion Bank hf.’s financial results for the first quarter of 2026 on 6 May 2026, employees of the subsidiaries Vörður tryggingar hf. and Stefnir hf. exercised share options in accordance with the share option plan for the years 2021–2026.

A total of 315,859 shares were purchased at a price of ISK 140.56 per share, 101,142 shares at a price of ISK 143.36 per share, and 42,643 shares at a price of ISK 155.93 per share. The total number of shares purchased therefore amounts to 459,644 shares. This exercise period was the final exercise period under the previous share option plan for the years 2021–2026.

A new share option plan, made on the basis of Article 10 of the Income Tax Act No. 90/2003, was approved at the Bank’s annual general meeting in 2025 and applies to all permanent employees of Arion Bank hf. and the subsidiaries, Vörður tryggingar hf. and Stefnir hf. The plan is in accordance with Arion Bank hf.’s remuneration policy, and its objective is to align the interests of employees with the long-term interests of the Group.

The new plan is valid for five years, from 2027 to 2031, and replaces the previous share option plan for the years 2021–2026. Under the new share option plan, share option agreements were entered into in February 2026 with employees of the Bank and its subsidiaries covering a total of 6,244,677 shares per year through 2031. The exercise price of the shares is ISK 199.61.

The total number of employees of the Bank and its subsidiaries with valid share option agreements is now 831.
The first exercise period under the new share option plan will be in February 2027.