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Skeljungur hf.: Changes to terms in market making agreements

Skeljungur hf. has received notification from Íslandsbanki hf., which is one of the banks Skeljungur hf. has market making agreements with, cf. Skeljungur hf.´s announcement to the market March 3, 2020 and March 12, 2020.

March 12, 2020 Íslandsbanki announced that it had exercised its right in the market making agreement that allowed them to deviate from the terms of the agreement, regarding the spread and amount, in light of unforeseen events.

According to Íslandsbanki, there is no longer need to exercise the above mentioned right and therefore the provisions of the agreements on spreads and amounts now apply again.

For further information please contact Ólafur Þór Jóhannesson, CFO, fjarfestar@skeljungur.is.

Skeljungur is an energy company with operations in Iceland and in the Faroe Islands. Skeljungur sells fuel and oil to consumers and businesses in fisheries, agriculture, transportation, aviation and construction under the brands Skeljungur, Orkan, and Magn. Skeljungur is also in the retail market under the brand Kvikk. The company also sells fertilizer and other chemical products and is on the retail market. In Iceland the Company runs 65 gas stations and 4 oil depots. Magn P/F, Skeljungur´s subsidiary in the Faroe Islands, runs 11 retail and gas-stations and 2 oil depots. Magn also serves and sells oils for house heating to individuals and companies in the Faroe Islands. Skeljungur´s goal is to serve the energy needs of consumers and businesses in an efficient and safe way and in harmony with the environment.