In accordance with the agreement of 18 September 2015, Landsbankinn hf. has purchased of LBI its Landsvirkjun Bond and the purchase price has been paid.

The transaction is an element in funding the payment of the remainder of accepted priority claims in the winding-up proceedings of LBI, which is anticipated to take place in the event that the composition proposal will be approved by creditors and consequently confirmed by the Icelandic courts.