Final and binding Composition Agreement of LBI hf.

The Composition Agreement of LBI hf., which was confirmed by the District Court of Reykjavik on 18 December 2015, has become final and binding under Icelandic law as the appeal period provided for under Article 59 of the Act on Bankruptcy etc. No. 21/1991 lapsed on 25 December without any appeal being filed.

LBI hf. will make a further announcements once it receives the relevant exemptions from the Central Bank of Iceland to permit the fulfilment of the Composition Agreement to commence, as provided therein.

The Composition Agreement and other related documentation, including the District Court decision and the Information Memorandum with the relevant appendices, are available at the creditors login site of LBI; http://www.lbi.is/home/creditors-login/ and on the special composition website of LBI;https://composition.lbi.is/login.

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