Q1 2022 Financial Results

The sale of Míla is awaiting approval from the competition authority • For review · • Síminn signed last October an agreement for the sale of all its stake in Míla. The buyer is Ardian, a leading infrastructure investor in Europe. The value of the transaction is ISK 78 billion and estimated sales gain of just over ISK 46 billion. Síminn will be paid ISK 44 billion at closing in cash and ISK 15 billion with a 3-year bond. A 20-year wholesale agreement was agreed between Síminn and Míla. Ardian has invited Icelandic pension funds to participate in the acquisition. • The Competition Authority is reviewing the transaction The Competition Authority announced on 14 March that the merger required further investigation. The deadline has begun to expire at that date and is in total 90 business days or until 27 July. Agreement with the state Negotiations between the government and representatives of Míla, Síminn and Ardian to ensure that Míla's operations are in line with national security interests in the new ownership of non-residents resulted in agreement last December where Míla undertakes certain requirements due to operations of their important network. This confirms that Míla's communications network meet the state's requirements for national security, and it can therefore be said that Míla's systems are the most secure electronic communications systems in the country.

View entire presentation