~During Q4 of this year, Eimskip has sold some of its real estate holdings in North America for over CAD 690m (EUR 500m) ~Proceeds to be used to pay off loans relating to the purchase of Atlas and Versacold Hf. Eimskipafélag Íslands contracted to sell real estate in Canada for just under CAD 305m (EUR 221m). Eimskip will use the proceeds of the sale to pay off loans in accordance with a previously released policy statement. The purchaser, property company Kingsett in Canada, worked with Eimskip on the acquisition of Atlas and Versacold. During the past year, Eimskip has taken over Atlas and Versacold, two of the largest cold-storage company in North America. With these acquisitions, Eimskip has become the leader in cold and frozen goods storage, with almost 200 cold and frozen storage facilities on five continents. The total price of Atlas and Versacold was over CAD 1,800m (just under EUR 1,300m). Eimskip saw good operational opportunities in these companies, and in addition, they came with highly valued real estate. According to international valuation agency CBRE, the value of the companies' real estate stood at CAD 1,600-1,700m (EUR 1,160-1,230m). In this latest round, Eimskip has sold real estate for CAD 305m, and along with CAD 385m from a previous sale of real estate, the company has raised a total of CAD 690m (EUR 500m) during Q4 of this year. Alongside the sale, Eimskip has agreed to lease the properties, which consist of cold and frozen-storage facilities housing part of the company's Canadian operation. Eimskip has yet to complete the sale of real estate connected to Versacold and Atlas operations valued at CAD 900-1,000m (EUR 690-720m). The real estate still in Eimskip ownership will be separated from the company's operation and transferred to a special company that will initially be fully owned by Eimskip. Steps will be taken to sell a large part of this company in the coming months. At the same time, action will be taken to refinance the new company's debts on improved terms. Baldur Gudnason, President and CEO of Hf. Eimskipafélag Íslands “The sale of this part of the company's real estate in Canada is an important item in Eimskip's refinancing process because of the acquisition of Versacold and Atlas, and at the same time, it is an element in the reduction of the company's debts. Based on this sale and the available valuations, all the indications are that we will succeed in selling Versacold and Atlas real estate for approximately CAD 1,600-1,700m, or around EUR 1,200m. The value of the real estate has exceeded our expectations, which is very positive considering the current position in international markets. The purchase price of Versacold and Atlas was around CAD 1,800m, or EUR 1,300m. It was a business opportunity that came to our attention. We are now well on the way to achieving the goals we set in connection with this sale, and will in fact surpass them. We now have a valuable company operating successfully in Canada, which is very important for Eimskip's future prospects. The acquisition of Versacold and Atlas has increased Eimskip's value enormously in such a short period.” For further information: Baldur Gudnason, CEO Hf. Eimskipafélag Ísland, tel. +354-5257202 Stefan Magnusson, CFO HF Eimskipafélag Ísland, tel. +354-5257202