Source: Eimskipafelag Islands hf.

Restatement of press release from last 17 May

With reference to the financial press release published on Nasdaq Iceland last 17 May the Company would like to inform the following:

The Icelandic Competition Authority exercised a dawn raid on 10 September 2013 at the offices of Samskip and Eimskip in Iceland. The dawn raid was exercised due to alleged breach of Articles 10 and 11 of the Icelandic Competition Act.

Since the dawn raid was exercised Eimskip has continually requested further information on the merits of the case, with limited results. The Company has released numerous press releases on the matter. A detailed press release was disclosed on 23 October 2014 in the follow up of news coverage in the Icelandic media.

On 11 May the CEO and the Executive Vice President of International Operations and Logistics went to the office of the District Prosecutor for formal questioning and both received a status of defendant on the same day. As before the Company has limited information about the merits of the competition authority’s case which concerns alleged infringements of Articles 10 and 11 of the competition act. The investigation of the District Prosecutor concerns Article 10 of the competition law and whether concerted practices regarding price or distortion of markets has taken place. The above mentioned employees have requested access to all information of the case that they have not been granted yet. The Company has not received any information on the case.

Based on the limited information available on the merits of the case, the Company restates its previous statements rejecting allegations of violations against competition law. The Company wishes that this investigation will be brought to an end soonest and welcomes, after almost five years, that finally the investigation seems to be proceeding forward.