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The Board of Directors of Icelandair Group has agreed to implement the resolution made at the Company’s Annual General Meeting on 3 March 2022, to introduce a Stock Option Program. The Company’s Executive Team and other employees at Director level, in total 51 employees, will be granted the right to purchase a total of up to 385,300,000 shares through Stock Option Agreements, thereof 111,000,000 to the Executive Team. Key terms and conditions of the agreements are as follows: Type of share-based

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