Landsbankinn hf.: Offering of additional tier 1 (AT1) securities
Landsbankinn will offer ISK denominated additional tier 1 (AT1) securities for sale via auction to be held on Wednesday 11 February 2026.
One series of non-indexed AT1 securities (the “Securities”) will be on offer with no fixed maturity date but with a potential call date for the issuer after 5.5 years, subject to the terms and conditions of the Securities, including receipt of prior supervisory permission, as set out in the terms and conditions of the Securities. The Securities will bear a fixed interest rate from issue date and until first reset date, payable semi-annually (subject to (i) Landsbankinn’s right in its sole discretion to cancel, and (ii) the mandatory cancellation provisions as set out in the terms and conditions of the Securities.
The Securities are subordinated to all other claims, except equity and will rank pari passuwith any other AT1 securities of Landsbankinn. Landsbankinn aims to issue up to ISK 16 billion on a predetermined fixed price basis. In the event of oversubscription, valid bids will be allocated on a pro rata basis. Landsbankinn reserves the right to accept any bid, either partially or in full, or to reject any or all bids.
The aim is for the securities to be dual listed, on Euronext Dublin and Nasdaq Iceland. Anticipated rating of the AT1 securities is BB by S&P.
Bids are to be submitted before 15:00 on Wednesday, 11 February 2026. Expected settlement and issue date is 18 February 2026.
Information regarding the predetermined price and yield of the securities will be published on Tuesday 10 February 2026.
The offering is not intended for retail investors.
Morgan Stanley is the arranger of the issuance.
Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email, verdbrefamidlun@landsbankinn.is.
Important Information
Investors should not rely on any information in this announcement but should refer to the preliminary prospectus dated 4 February 2026 (the “Preliminary Prospectus”) and the final prospectus for further and more complete information (including the risk factors) about the proposed offering of the ISK denominated Perpetual Temporary Write Down Additional Tier 1 Securities to be issued by Landsbankinn hf. to be sold in the proposed offering.
This is an advertisement for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). A final prospectus prepared pursuant to the Prospectus Regulation will be published, and will be made available at: https://www.landsbankinn.is/en/the-bank/investor-relations/funding
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