Investor Presentaiton

Going forward Macro economic developments, both internationally and in Iceland, will dominate in the coming quarters Arion Bank will support its customers as possible and has financial strength to work with the government on the preservation and rebuild of the economy Continued focus will be on core revenues and operating expenses. Leading position as regards digital services will play an important role and recent experience is likely to drive further developments 27 22 KR Given the economic uncertainty, additional Covid-19 related impairments cannot be ruled out in the coming quarters The Bank does not rule out the possibility that the current economic environment, coupled with the Bank's very strong capital and liquidity position, might open up opportunities to efficiently use some of these resources The Bank is committed to its medium term targets, assuming the economy recovers in the medium term

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