Optional Redemption Second Notification Date - 28 December 2017 (increased amount)

Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 263,741,728)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)

Further to the announcement on 7 December 2017, the Issuer hereby announces that the EUR Equivalent Redemption Funds (EERF) to be distributed on 28 December 2017 will be increased by EUR 2,000,000. The increased amount derives from realizations of restricted cash (indemnity fund).

The amount which will be used to redeem the Notes on 28 December 2017 is EUR 9,994,113 (of which EUR 1,320,298 comes from the currency conversion). The amount derives from realisations of the following assets:

a) Equity: NOK 13,022,095 and EUR 463,000.
b) Loans: EUR 2,582,000.
c) Other assets: EUR 3,623,000.
d) Restricted cash (indemnity fund): EUR 2,000,000.

Reykjavik, 22 December 2017

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