Festi hf.: Candidacy for the Board of Directors of Festi hf.

The Nomination Committee of Festi hf. hereby requests nominations or candidacies for the company's Board of Directors, for the Annual General Meeting to be held on 22 March.

The role of the Nomination Committee is to prepare and make a proposal of candidates for election to the company's Board of Directors at the Annual General Meeting.  The aim shall be for the Board of Directors, at all times, to be composed of individuals who provide diverse knowledge and experience, so that the Board can assist the company in policymaking and supervision, in the environment in which the company operates at any given time.  When making a proposal to the election of Board members in Festi, the Nomination Committee shall look at the competence, experience and knowledge, e.g., with regard to guidelines on corporate governance and the outcome of the Board's performance evaluation.

Board members also need to fulfill the conditions set out in the company's Articles of Association and the Act on Public Limited Companies, cf. the provisions of Article 66 of the Public Limited Companies Act No. 2/1995.  THe Nomination Committee's rules of procedure, the company's Articles of Association and other documents are available on Festi's webside.

Attention is drawn to the fact that special conditions apply to the Board members of Festi hf. due to the company's settlement with the Competition Authority dated 30 July 2018.  Candidates can read the conditions on the Competition Authority's website, as they are accessible without confidential information.

All five current Board members of the Board of Directors of Festi hf. intend to nominate themselves for continued Board membership.

Nominations or candidacies are requested to be submitted to the Nomination Committee on special forms along with a CV before 3 February 2023, tilnefningarnefnd@festi.is

The documents can be accessed at www.festi.is

under Investors / General Meetings 2023

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