Skeljungur hf.

Transactions in relation to a share buy-back program – repurchase is completed

In week 46-47. 2020, Skeljungur purchased 1.320.946 of its own shares, at purchase price of ISK 11,184,001. See further details below:

Date	Time	No. of shares bought	Share price (rate)	Purchase price
12.11.2020	14:02	40.108	8,36	335.303
16.11.2020	13:32	1.280.838	8,47	10.848.698
Total		1.320.946		11.184.001

The trade is in accordance with Skeljungur’s share buy-back program, announced to Nasdaq Iceland on October 8th, 2020. The main purpose of the program is to reduce the issued share capital of the company.

Skeljungur has now purchased a total of 24,820,946 own shares which corresponds to maximum of own shares that will be purchased according to the buy-back program. The purchase price for the bought shares is total ISK 198,514,001.

Before the share buy-back program began Skeljungur owned 24,820,946 of own shares or the equivalent of 1,25% of the issued share capital.

Skeljungur now owns a total of 49,641,892 shares or 2.50% of the Company’s share capital.

According to the buy-back program it was planned to buy up to 24,820,946 of the company’s own shares, which corresponds to 1,25% of the issued share capital, although the amount of the purchase price could not exceed ISK 250.000.000, provided that Skeljungur and its subsidiaries shall only hold a maximum of 10% of the company´s shares.

The repurchase according to the share buy-back program is therefore completed. The execution of the share buy-back program was in accordance with the Public Limited Company Act No. 2/1995 and Regulation on Insider Information and Market Manipulation No. 630/2005.

For further information please contact Ólafur Þór Jóhannesson, CFO, [e-mail]

www.skeljungur.is

https://www.linkedin.com/company/skeljungur-hf/