The Board of Directors of Brim hf. approves the acquisition of Lýsi hf.

The Board of Directors of Brim hf. has approved the acquisition of all shares in Lýsi hf. for ISK 20 billion. The acceptance of Brim’s offer to acquire Lýsi hf. was announced on 23 September 2025, subject to the approval of the boards of directors of the companies, the shareholders’ meeting of the buyer, and the approval of the Icelandic Competition Authority. The purchase price and payment terms have subsequently been renegotiated, taking into account, among other things, interest-bearing debt. The total purchase price will be paid half in cash and half in shares in Brim, based on a price of ISK 85 per Brim share. As a result, upon completion of the transaction, the sellers will receive 117,647,058 shares in Brim, corresponding to approximately 6% of the company’s total share capital, provided that Brim is able to use treasury shares as consideration for the transaction. The purchase price will be paid in full upon completion of the transaction, subject to the required regulatory approvals.