Landsbankinn hf. - Other information disclosed according to the rules of the Exchange

Landsbankinn hf.: Results of the AGM of Landsbankinn 2017

The Annual General Meeting (AGM) of Landsbankinn hf. for the year 2016 was held
at Harpa on 22 March. The agenda for the meeting was regular AGM business.

The AGM approved a motion to pay dividend to shareholders for the accounting
year 2016 amounting to ISK 0.55 per share, a total amount of ISK 13 bn which is
equivalent to about 78% of the year's profit, to be paid at the end of March.
The AGM also approved a motion to pay a special dividend amounting to ISK 0.50
per share, a total amount of ISK 11.8 bn, to be paid on 20 September 2017. Total
dividends paid by Landsbankinn in 2017 will thus amount to ISK 24.8 bn.

A new dividend policy, approved by the Board of Directors on 7 March, was
presented to the AGM. The policy states that Landsbankinn aims to pay regular
dividends to shareholders amounting in general to 60-80% of the previous year's
profit. As provided for in Landsbankinn's funding strategy, the aim is also to
make special dividend payments to optimise the Bank's capital structure. In
taking decisions on dividend payments it shall be ensured that the Bank is at
all times in compliance with all regulatory requirements and that it maintains
its strong financial standing. Regard shall be had for risk in the Bank's
internal and external environment, growth prospects and the maintenance of a
long-term, robust capital and liquidity position.

The following were elected regular members of the Board of Directors:

  * Berglind Svavarsdóttir
  * Einar Thór Bjarnason
  * Helga Björk Eiríksdóttir
  * Hersir Sigurgeirsson
  * Jón Guðmann Pétursson
  * Magnús Pétursson
  * Sigríður Benediktsdóttir

Helga Björk Eiríksdóttir was elected Chairman of the Board of Directors.

The following persons were elected alternates to the Board of Directors:

  * Ásta Dís Óladóttir
  * Samúel Guðmundsson

The AGM approved an unchanged remuneration policy for Landsbankinn. The AGM
approved a motion to pay compensation of ISK 400,000 per month to Directors, ISK
700,000 per month to the Chairman of the Board and ISK 500,000 to the Vice-
chairman of the Board. In addition, Directors shall receive ISK 200,000 per
month for membership on Board sub-committees and the chairmen of these
committees shall receive an additional ISK 25,000 per month. Alternates to the
Board shall receive ISK 200,000 for each meeting of the Board or meeting with
the Financial Supervisory Authority for eligibility assessment; however, monthly
compensation to alternates shall never exceed monthly compensation to Directors.
Alternates shall be compensated by ISK 400,000 per annum at a minimum.

The AGM agreed to authorise Landsbankinn hf. to acquire own shares for up to
10% nominal value of share capital in the Bank. The minimum and maximum amounts
Landsbankinn is authorised to pay for each share shall be the book value of
individual shares, i.e. equivalent to the ratio of equity held by the Bank's
shareholders and share capital, as disclosed in the most recent annual or
interim financial statement published before the purchase of own shares takes
place. This authorisation is valid until the AGM of Landsbankinn in 2018.
Allocation by Landsbankinn of own shares purchased based on this authorisation
is subject to approval of a shareholders' meeting.

For further information contact:

Rúnar Pálmason, Public Relations, pr@landsbankinn.is, tel: +354  410 6263 /
899 3745

Hanna Kristín Thoroddsen, Investor Relations, ir@landsbankinn.is, tel:
+354  4107310


[]

Liitteet:

AGM Results 2017.pdf