Arion Bank hf.: Notice to the holders of the EUR 5,000,000 Fixed Reset Subordinated Callable Notes, ISIN: XS1956998956, of full redemption

Arion Bank hf. (the “Bank”) hereby gives notice to holders of the EUR 5,000,000 Fixed Reset Subordinated Callable Notes, ISIN: XS1956998956, due March 2031 (the “Notes”) that, having obtained the prior approval of the Financial Supervisory Authority of the Central Bank of Iceland, the Bank will redeem the Notes in full on the first optional redemption date, 6 March 2026, pursuant to Condition 5.3 of the Notes. Following such redemption of the Notes, the Notes will be cancelled pursuant to Condition 5.6 of the Notes.