Optional Redemption Second Notification Date - 9 March 2017 (increased amount)

Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 330,630,939)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)

Further to the announcement on 15 February 2017, the Issuer hereby announces that the EUR Equivalent Redemption Funds (EERF) to be distributed on 9 March 2017 will be increased by EUR 2,014,222. The increased amount derives from realizations of other assets.

The amount which will be used to redeem the Notes on 9 March 2017 is EUR 16,572,622 (of which EUR 10,223,406 comes from the currency conversion). The amount derives from realisations of the following assets:

Restricted cash: EUR 4,335,000, USD 2,801,800, GBP 1,478,780 and NOK 21,208,100.
Other assets: EUR 2,014,216, USD 1,960,200 and GBP 1,371,970.

Reykjavik, 7 March 2017

On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer