The 2024 Annual General Meeting of LBI ehf. with company no. 540291-2259 and registered offices at Ármúli 21, 108 Reykjavík, Iceland (the “Company”) in respect to the year of 2023 will be convened and held at the offices of the law firm Réttur – Aðalsteinsson & Partners at Klapparstígur 25-27, 3rd floor, 101 Reykjavík, Iceland on 11 April 2024. The meeting will commence at 10:30 AM local time (GMT+0).

LBI’s Financial Statements 2023 and investor call presentation have been made available on LBI’s website under https://www.lbi.is/financial-info.

LBI will host an investor call to present and discuss the results on Tuesday 26 March 2024 at 16:00 (GMT) London and 12:00 New York time (EDT).

Please note that shareholders of LBI will need to register in advance to participate in the call by sending an email to ir@lbi.is no later than 18:00 (GMT) London and 14:00 New York time (EDT) on Monday 25 March 2024

LBI’s Management Accounts for Q3 2023 have been made available on LBI’s website under https://www.lbi.is/financial-info.

LBI will be hosting investor calls going forward when there are material developments to report on. There were no material developments during the quarter ended 30 September 2023 and LBI will therefore not be hosting an investor call at this time.

Pursuant to 9.1 (d) of the Conditions LBI hereby confirms, as the Euro Equivalent Available Cash, as determined on a Determination Date in respect of a Payment Date, is lower than the Distribution Threshold, LBI has decided not to make a payment of principal to the Bondholders on 15 December 2023 and to postpone such payment of principal until the scheduled Payment Date on 15 June 2024 unless otherwise communicated.

LBI’s has on 29 September 2023 decided to initiate a partial conversion of EUR 50,185,354.25 of Bonds into new 50,185,354.25 Class A Shares (equity) each of nominal value EUR 0.01 (the “Conversion”) according to authorization provided in Art. 6.2. and Art. 29 of the Company’s Articles of Association, and Art. 6.1.(a) of the Terms and Conditions of the Bonds (the “Conditions”). In addition, on 27 October 2023 85.07% of Bondholders have approved a written Extraordinary Resolution with respect to the partial conversion which was posted on LBI´s website on 2 October 2023.

Further to the above, the Board of Directors of the Issuer will, with reference to Article 6.2 of the Articles of Association and Condition 6.1(a) of the Conditions, increase the Issuer’s share capital by 501,853.54 from EUR 13,670,036.50 to EUR 14,171,890.04 nominal value, by issuing 50,185,354.25 new Class A Shares each of a nominal value of EUR 0.01. The Conversion rate of the new shares shall be EUR 0.01 per share.