Vátryggingafelag Íslands : Shareholder rights

Information on Shareholder Rights at the AGM of Vátryggingafélag Íslands hf. to be held on 21 March 2024

The meeting was convened by a notice issued on 28 February 2024. The total number of shares on that date was ISK 1,906,700,000 at nominal value. On 28 February 2024 the Company held 19,850,000 own shares, or 1.04% of the total share capital of the Company, and such shares do not hold voting rights nor do they count towards shares represented at the shareholders' meeting. The total number of votes at the meeting will be adjusted in accordance with the number of the Company's own shares at the closing of registration at 4:00 p.m. on 19 March 2024.

The following rules apply to participation and voting at the Company's AGM:

The right of shareholders to place matters on the AGM agenda - Each shareholder is entitled to have a matter placed on the meeting agenda and submit resolution proposals provided that they request so in writing or by electronic means by 4:00 p.m. on Monday, 11 March 2024. Proposals may be sent by [e-mail]. Requests sent to the Board of Directors shall be accompanied by reasoning or a draft for the proposal. Items which are not included on the agenda of a shareholders' meeting may not be brought to a conclusion at the meeting except with the consent of all shareholders of the Company, but resolutions may be passed on such matters for the purpose of providing guidance to the Board of Directors. Shareholders can submit questions for the AGM by [e-mail] at the meeting itself.

Rules on attendance at the AGM - All shareholders of the Company may attend the AGM and speak at the meeting. A shareholder can instruct a proxy to attend the AGM on his or her behalf. A shareholder may attend the AGM accompanied by an advisor. The advisor shall not be entitled to submit motions or vote at the AGM. However, a shareholder may allow an advisor to speak on his or her behalf. The proxy shall submit a written or electronic proxy form on the registration website https://www.lumiconnect.com/meeting/visinsuranceagm2024or [e-mail] shall be signed and dated. The proxy form shall be valid for a maximum of one year from its issue. The proxy authorisation may be withdrawn at any time, although not after the commencement of the AGM. Parties or the representatives of parties who are recorded in the share register as shareholders according to the Company's share registration system at the closing of registration for the meeting, which is at 4:00 p.m. on 19 March 2024, may exercise their rights at the meeting. Timely attendance is advised so as not to interfere with the proceedings at the meeting.

Registration for the AGM and remote participation - The Company's AGM will be held at the Company's headquarters at Ármúli 3, Reykjavík, but shareholders also have the option of participating remotely without attending in person throughLumi AGM. It will be possible to follow the meeting via a live webcast and shareholders will also be able to vote by electronic means and submit written questions through the Lumi app or the Lumi website. Remote participation will equal attendance at the meeting and will confer the right for full participation in the meeting.

Shareholders or shareholders' proxies who wish to attend the meeting, either remotely or in person, are asked to register at https://www.lumiconnect.com/meeting/visinsuranceagm2024no later than by 4:00 p.m. on 19 March 2024, being two days before the meeting. Registration requires a photo of ID and a proxy form, if applicable.

Voting and weight of votes - Each share of one Icelandic króna carries one vote at the AGM. Decisions at the AGM shall be taken by majority vote, unless otherwise prescribed in the Company's Articles of Association or Icelandic law. Proposals are defeated if they receive an equality of votes.

Voting at the meeting will be conducted entirely via Lumi AGM. Shareholders can download an app to their smart device or vote through a URL. Directors will be elected by proportional voting as required by the Company's Articles of Association, unless a justified request for cumulative voting is received from shareholders controlling more than 10% of the shares, see the seventh paragraph of Article 63 of Act No. 2/1995 on Limited Companies. If two or more persons receive an equal number of votes in an election, the result of the voting shall be decided by a coin toss.