Optional Redemption Second Notification Date - 1 June 2017

Further to the announcement on 12 May 2017, Glitnir confirms that the final amount, which will be used to redeem the Notes, by payment in cash, is EUR 20,822,430. In addition the Notes will be reduced by EUR 1,211,132 in relation to Notes that were transferred to Glitnir due to settlement agreements between Glitnir and the holders of those Notes. The reduction in Notes brings the remaining balance to 284,564,158 EUR, which is the basis for the calculation of payments on 1 June 2017. The aggregate principal amount of the Notes will be EUR 263,741,728 immediately following the payment on 1 June 2017. Noteholders who wish to confirm the payment amount to be sent on 1 June 2017 can do so through the secured website.