Status and fulfilment of the Composition Agreement – issuance of Bonds and delivery of Shares.

The issuance of Bonds and delivery of Shares (together the “Securities”) in accordance with the composition agreement (the “Composition Agreement”) of LBI ehf. (the “Company”) took place today, 23 March 2016. The aggregate amount of the Bonds issued was EUR 2,041,382,201 and the entitlement of each creditor is determined by the Composition Agreement. A list of the overall issuance of the Securities and the respective entitlement of each creditor, or escrow allocation of each creditor if applicable, is now accessible on the Bondholder Website which can be accessed here. For access please use the same individual login credentials which were delivered in relation to the composition proposal of the Company.

Escrow allocations of Securities are executed in accordance with the Composition Agreement and where events obstruct delivery. Such escrow allocations are made in the name of the Company and pursuant to Article 103 A paragraph 6 of the Financial Undertakings Act No 161/2002 as amended, the relevant provisions of the Composition Agreement and the Securities Escrow Declaration which has been published on the Bondholder Website.

The creditors in question will be provided with further information in due course by way of an e-mail or a letter. Reference is also made to documents and information provided on the Bondholder Website.

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