Landsbankinn hf. - Company Announcement

Results of Landsbankinn's 2016 AGM

The Annual General Meeting (AGM) of Landsbankinn for the year 2015 was held in
the Concert Hall and Convention Centre Harpa on 14 April. The meeting agenda
consisted of regular AGM business. 

The meeting approved the motion of the Board of Directors to pay shareholders a
dividend amounting to ISK 1.2 per share for the accounting year 2015 or around
ISK 28.5 billion. Payment of the dividend is to be made in two equal
distributions, with the former date of payment 20 April 2016 and the latter 21
September 2016. The dividend payment is equivalent to around 80% of the bank's
2015 profit. 

The AGM agreed to authorise Landsbankinn hf. to acquire up to 10% of the
nominal value of the bank's share capital. The minimum and maximum amounts the
bank is authorised to pay for each share shall be equivalent to its book value,
i.e. ratio of shareholder equity to share capital, as disclosed in the most
recent annual or interim financial statements published before the purchase of
own shares takes place. Disposition of own shares purchased by Landsbankinn
based on this authorisation is subject to approval by a shareholders' meeting.
A similar authorisation was approved at the bank's AGM. 

The Remuneration Policy and consideration paid to directors remains unchanged
from that of the previous year. 

The meeting entrusted the Board of Directors to add to its protocols provisions
on the competitive independence of Landsbankinn hf. towards other state-owned
commercial banks. 

As Birgir Björn Sigurjónsson withdrew his candidacy as director of Landsbankinn
hf., the election of the bank's Board of Directors was postponed. The Board of
Directors will be elected at a supplementary meeting to be held at Austurstræti
11 in Reykjavík on Friday, 22 April this year, at 1:00 pm. 

All further information on the results of Landsbankinn's AGM is available on
www.landsbankinn.com/investor-relations/annual-general-meetings. The report
from the Board of Directors, the Chairman's speech and other information
presented at the AGM will be available there. The minutes of the meeting as
finally adopted can be found on the bank's web at
http://www.landsbankinn.com/investor-relations/annual-general-meetings. 



For further information:

Hanna K. Thoroddsen, Investor Relations, ir@landsbankinn.is

Rúnar Pálmason, Public Relations , pr@landsbankinn.is

Attachments:

AGM Results 2016.pdf