Skel fjárfestingafélag hf.: Announcement of a Share Buyback Program

The Annual General Meeting of SKEL fjárfestingafélag hf., held on 5 March 2026, authorized the Board of Directors, pursuant to Article 55 of the Icelandic Act on Public Limited Companies No. 2/1995, to acquire on behalf of the Company up to 10% of its share capital. The purpose of the program is to reduce the Company's issued share capital.

Based on the authorization granted by the Annual General Meeting, the Board of Directors of SKEL fjárfestingafélag hf. has decided to implement a share buyback program. It is planned to purchase up to a maximum of 21,472,392 treasury shares in the Company, corresponding to approximately 1.14% of the issued share capital, provided that the total purchase amount will not exceed ISK 350 million.

The share buybacks will be carried out in tranches; however, the daily purchases will not exceed 25% of the average daily trading volume in shares of SKEL fjárfestingafélag hf. on Nasdaq Iceland during the 20 trading days preceding each purchase. The consideration paid per share shall not exceed the higher of the price of the last independent trade or the highest current independent bid on Nasdaq OMX Iceland.

The buyback program is expected to commence on Wednesday, 29 April 2026, and will remain in effect until 31 December 2026, unless the maximum purchase conditions are met before that time.

ACRO verðbréf hf. will manage the execution of the buyback program and will make all trading decisions regarding the purchase of shares and the timing of such purchases independently of the Company.

The implementation of the buyback program will be in accordance with the Icelandic Act on Public Limited Companies No. 2/1995 and the Annex to Regulation No. 630/2005 on insider information and market abuse. Transactions carried out under the buyback program will be disclosed no later than by the end of the seventh trading day following the date of the transaction.

For further information, please contact Magnús Ingi Einarsson, CFO of SKEL fjárfestingafélag hf., at magnus@skel.is