SKEL Portfolio Update

" Heimkaup Creation of a challenger in the retail market GG PHARMACY Lyfjaval heimkaup CONVENIENCE STORES EXTRA 1011 m heimkaup RESTAURANTS glo SBARRO BRAUÐ GRÉTA MARÍA APPOINTED CEO 1. JUNE 2023 ESTIMATED SALES 2023 3.5 B.ISK. 6.5 B.ISK. 1 B.ISK. K SKEL h Estimated sales 2023 11 B.ISK. Stores 19 PURCHASE OF LYFJAVAL AND ORKAN'S RETAIL SECTION Book value is ISK 4,099 million (of which the value of Lyfjaval was ISK 2.5 billion at the end of last year) The purchase price is paid with new shares in Heimkaup Norvik og HIBB holding invest ISK 500 million in cash Plan to raise up to ISK 1.5 billion of equity to finance external growth THE GROUP AFTER THE PURCHASE 7 Lyfjaval pharmacies Brand, online store and goodwill of Heimkaup, incl. information about 100k+ users 9 convenience stores under the brand of 10- 11, EXTRA and Orkan 8 Brauð og co. ehf. bakeries, 38% share, 2 Gló restaurants and 23% share in Sbarro The future plan is for retail stores and restaurants to be in 100% ownership of Heimkaup THE VISION The goal of the shareholders is to create a strong company in the retail market with a large revenue base Achieve simplification, better procurement, optimization and lower unit costs Both internal and external growth is planned Restructuring is being completed and the aim set for listing on the Icelandic Stock Exchange in 5 years We expect to promote the company better in the fall and bring in new partners Customers 100+ thousand on mailing list Employees 156

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