Icelandair Group has signed a share purchase agreement with Nordic Visitor regarding the sale of 100% stake in Iceland Travel with Alfa Framtak as Nordic Visitor’s financial sponsor. The enterprise value of Iceland Travel amounts to ISK 1,400 million of which ISK 350 million are subject to certain performance metrics over the years 2022 and 2023. The purchase price will be adjusted according to position of net debt and net working capital at time of closing of the transaction. Current net debt of Iceland Travel is negligible. The sale is part of Icelandair Group’s divestment of tourism operations and increased

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