Skel fjárfestingafélag hf.: Renewal of Market Making Agreement

SKEL and Íslandsbanki hf. have renewed and amended an agreement on market making for shares in SKEL. The purpose of the agreement is to promote trading in SKEL shares in order to increase the liquidity of the shares, support the formation of a market price, and ensure efficient and transparent price formation for the shares.

The agreement provides that, as market maker, Íslandsbanki will, on a daily basis and for its own account, submit buy and sell orders for SKEL shares in a trading system connected to Nasdaq Iceland, with a minimum market value of ISK 5 million, before the market opens. Orders shall be renewed as soon as possible, but always within 15 minutes after they have been fully executed. Íslandsbanki aims to submit more than one order on both the buy and sell sides for SKEL, so that the total value of the orders is at least ISK 5 million at market value. However, Íslandsbanki is not obliged to increase the number of orders beyond one order on each side. Íslandsbanki is permitted to update orders on both or either side of SKEL as needed, without all orders on the relevant side having been fully executed.

Íslandsbanki's daily maximum volume in its role as market maker for SKEL shares shall be limited to purchases or sales of a net ISK 10 million at market value. The daily maximum volume is calculated as the difference between Íslandsbanki's buy and sell orders as market maker that have been executed. Once the daily net maximum volume has been reached, Íslandsbanki's obligation to submit orders on the side that has been filled shall cease. When an Íslandsbanki order on the opposite side has been executed and the net market value for the day is again below the daily maximum, the obligation to submit orders is reactivated on both the buy and sell sides.

The maximum spread between Íslandsbanki's buy and sell orders as market maker for SKEL shares shall be 2.5% and is calculated as the volume-weighted average of all Íslandsbanki orders in the SKEL order book at any given time.

The agreement is effective from 12 June 2026 and is indefinite. The parties may terminate the agreement with 7 days' notice.

Further information is provided by SKEL's CFO, Magnús Ingi Einarsson, magnus@skel.is