Icelandair Group hf. - Changes in company's own shares

Transactions in relation to share repurchase program – week 11

In Week 11 2017, Icelandair Group hf. (The “Company”) purchased 13,934,395 of
its own shares. The total purchase price is ISK 198,896,022, as detailed below: 



                Own shares at the beginning of                        68,401,860
                 period                                                         
                Purchased at nominal value in week                    13,934,395
                 11                                                             
                Total turnover in week                               198,896,022
                 11                                                             
                                                                                
                                                                                
Date     Time    No. of shares  Sharepri    Turnover     No. of own shares after
                        bought        ce                         the transaction
--------------------------------------------------------------------------------
13/3/20  10:01       1,000,000     14.25  14,250,000                  69,401,860
17                                                                              
13/3/20  10:17       1,000,000     14.25  14,250,000                  70,401,860
17                                                                              
13/3/20  10:54       1,000,000     14.19  14,190,000                  71,401,860
17                                                                              
13/3/20  11:48         450,000     14.20   6,390,000                  71,851,860
17                                                                              
13/3/20  15:17       1,000,000     14.14  14,140,000                  72,851,860
17                                                                              
14/3/20  10:24         980,575     14.28  14,002,611                  73,832,435
17                                                                              
14/3/20  13:38          19,425     14.28     277,389                  73,851,860
17                                                                              
14/3/20  14:47         175,000     14.35   2,511,250                  74,026,860
17                                                                              
14/3/20  14:47         825,000     14.35  11,838,750                  74,851,860
17                                                                              
14/3/20  14:49           5,800     14.20      82,360                  74,857,660
17                                                                              
14/3/20  15:29         994,200     14.29  14,207,118                  75,851,860
17                                                                              
15/3/20  10:28         381,020     14.25   5,429,535                  76,232,880
17                                                                              
15/3/20  10:52         395,020     14.25   5,629,035                  76,627,900
17                                                                              
15/3/20  13:24         821,176     14.25  11,701,758                  77,449,076
17                                                                              
16/3/20  09:49       1,000,000     14.10  14,100,000                  78,449,076
17                                                                              
17/3/20  09:48       1,000,000     14.41  14,410,000                  79,449,076
17                                                                              
17/3/20  09:48       1,000,000     14.41  14,410,000                  80,449,076
17                                                                              
17/3/20  11:21       1,000,000     14.40  14,400,000                  81,449,076
17                                                                              
17/3/20  13:33         261,096     14.26   3,723,229                  81,710,172
17                                                                              
17/3/20  15:24         626,083     14.30   8,952,987                  82,336,255
17                                                                              
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Prior to the aforementioned share repurchase, the Company owned 68,401,860 of
its own shares but now owns 82,336,255 of its own shares, corresponding to
1.65% of the Company‘s total share capital. 

The trade is in accordance with a share repurchase program authorized by the
Annual General Meeting on the 10th of March 2016 and has been put in motion
according to an announcement published in NASDAQ Iceland on the 20th of
February 2017. 

Icelandair Group hf. has acquired 57,336,255 of its own shares under the
program which corresponds to 1.15% of the total share capital and the total
value of repurchased shares amounts to ISK 850,492,129. According to the
program, The Company may not purchase more than 114,000,000 of its own shares,
corresponding to 2.28% of the total share capital. The total consideration for
shares under the program shall not exceed ISK 1,700 million. The share
repurchase program is valid until September 8th 2017 or until the total allowed
amount of shares are purchased by the Company, whichever happens first. 

The share repurchase program is executed in accordance with Chapter VIII. of
Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to
Regulation No. 630/2005 on Inside Information and Market Abuse, with later
amendments.