Festi hf.: Announcement from the Nomination Committee of Festi hf.

    Festi hf.: Announcement from the Nomination Committee of Festi hf.

The Nomination Committee of Festi hf. hereby calls for nominations or candidacies to the company's Board of Directors for Festi's Annual General Meeting, which will be held on 5 March 2025 according to Festi’s financial calendar.

The role of the Nomination Committee is to prepare and make a proposal of candidates for the election of the company's Board of Directors at the Annual General Meeting. The committee's proposals shall aim to ensure that the Board is at any given time composed in such a way that it possesses a wide range of knowledge and experience that will be useful to the Company in strategic planning and supervision in the environment in which the Company operates at any given time. When preparing a proposal for the election of Festi board members, the nomination committee shall take into consideration skills, experience and knowledge, inter alia, with regard to guidelines on corporate governance and the outcome of the Board's performance evaluation.

Board members must also fulfil the conditions stated in the company's Articles of Association and the Act on Public Limited Companies, cf. the provisions of Article 66 of the Companies Act No. 2/1995. The rules of procedure of the nomination committee, the association's articles of association and other documents are available on Festi's website.

Attention should be drawn to the fact that special conditions apply to Festi Board members due to the company's settlement with the Competition Authority dated 30 July 2018. Candidates can acquaint themselves with the conditions on the website of the Competition Authority where they are accessible without confidential information.

Nominations or candidacies are requested to be submitted to the Nomination Committee on special forms along with a CV before 20 January 2025 to the email address: [e-mail].

Please note that the work of the Nomination Committee and the deadline for submission of applications to it do not limit the right of candidates to submit candidacies to the Board of Directors before the general deadline for candidacy. The deadline for submitting candidacies is subject to the provisions of Festi's Articles of Association and the Act on Public Limited Companies (ten days before the start of the Annual General Meeting).

Shareholders who wish to meet with the Nomination Committee or submit a message to the Committee in the run-up to the 2025 Annual General Meeting are advised to contact the Nomination Committee no later than 17 January by email to [e-mail].

All documents are available at www.festi.is/en/vidburdir/agm-2025.