Kvika Securities Ltd.

Board of Directors

Sigurdur Vidarsson, Chairman

Mr. Vidarsson joined the Board in January 2023. He has worked in the financial sector for over 20 years and is currently the Deputy CEO of Kvika banki. In the years 2007-2022 he was the CEO of TM Insurance and before that the Director of Insurance and Financial Services of Vordur life insurance.

Timothy Smalley

Mr. Smalley joined the Board in November 2020. He worked for National Westminster Bank (now part of the NatWest Group) and Abbey National (now part of the Santander Group) for a period of 14 years, from 1989-2003, and a large part of that time in real estate financing, incl. as head of Real Estate Finance at Abbey National Treasury Services PLC. In the years 2003-2016 Mr. Smalley worked for an investment company (R20) and in recent years he has managed the investment companies Bluemoon Investments and Stondon Capital, that participate in various types of investment and loan projects, and been Chairman of Leon Restaurants Ltd until its sale in 2021.

Gudmundur Thordarson

Mr. Thordarson joined the Board in May 2023. He has also been on the Board of Kvika banki since 2017 and is currently the Deputy Chairman of that Board. Mr. Thordarson has significant experience in the financial markets and has completed a securities brokerage and asset management exam in the UK. He was Managing Director of Corporate Finance at Straumur Investment Bank from 2003 to 2007 and before that he worked as a specialist in the development and corporate advisory division of Islandsbanki and in Asset Management at Landsbref. Mr. Thordarson’s main focus today is on managing his own investments.