Iceland Seafood: Bond Auction on April 2nd 2025

Iceland Seafood International hf. ("ISI") will offer ISK-denominated bonds in a new series, ICESEA 28 10 on Wednesday, April 2nd 2025.

ICESEA 28 10 is a unsecured bond with a fixed 10.00% interest rate and a maturity date of October 9th, 2028.

The bonds will be offered in a single-price auction, where all accepted bids will be allocated at the highest accepted yield. The bonds will be issued in nominal units of ISK 20 million, and an application will be submitted for listing on the stock exchange. ISI reserves the right to accept all bids, reject all bids, or accept bids in part.

In connection with the auction, a bond exchange offering will take place. Holders of the bond ICESEA 25 06 will have the opportunity to exchange the series for bonds in the aforementioned auction. The clean price in the exchange offer will be determined at a later date and announced prior to the auction.

This is not a public offering, and the transaction is exempt from the requirement to publish a prospectus under Article 1(4)(a), (c), and (d) of Regulation (EU) No 2017/1129, as well as Article 3(1) of Act No. 14/2020 on the same subject. The base prospectus, final terms, and other relevant documents related to the bond issuance and listing will be published on the ISI's website:
http://www.icelandseafood.com/investors.

The auction is managed by Arion Bank Capital Markets. Bids must be submitted via email to skuldabrefamidlun@arionbanki.is by 16:00 (GMT) on April 2, 2025. Settlement will take place on Monday, April 7, 2025.