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It is important that you read the below text carefully.

This section of the website contains information and materials relating to an offering of securities in Bláa Lónið hf. (“Blue Lagoon” or the “Company”).

You may not be eligible to view the information and contents of this website. Accordingly, if you choose to enter this section of the website, you must first determine and then comply with the legal requirements applicable to you and your jurisdiction.

Please read the disclaimer below in full in order to determine whether you are permitted to access the information and contents.

The offering is marketed solely in Iceland and takes place only in Iceland. Any investment or investment activity/service relating to the content of this website is available only to investors eligible to participate in the offering. If you are not permitted to access the content of this website, or are unsure whether you are permitted to do so under the terms applicable to the offering, please leave this website immediately.

The contents of this website may not be reproduced, published, forwarded, transmitted or otherwise distributed to the United States, Australia, Canada, Japan or South Africa, or any other jurisdiction where such offers or sales of securities would be unlawful under applicable local law. This content is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of an offer to buy securities in the Blue Lagoon in the United States, Australia, Canada, Japan or South Africa, or in any other jurisdiction where such offer, solicitation or sale would be unlawful prior to registration, an exemption from registration, or compliance with other requirements under the securities laws of that jurisdiction. Parties receiving such documents as are distributed through this website (including custodians, nominees and trustees) may not distribute or transmit them in, into or from the United States, Australia, Canada, Japan or South Africa, or any other country in which doing so would breach the laws of the relevant jurisdiction.

The Company has not taken any action that would permit an offering of the securities, or the possession or distribution of this content or any other offering or promotional materials relating to such securities, in any jurisdiction where action for that purpose is required.

The delivery, publication or distribution of this content may be restricted by law in certain jurisdictions. Parties into whose possession this content may come, or who receive or distribute it in such jurisdictions, should inform themselves about and observe any such restrictions.

This content may contain statements, including statements regarding the Company’s medium-term financial and operational objectives, that are or may be deemed to be “forward-looking statements”. These forward-looking statements may be identified by terminology referring to the future, including the words “believes”, “aims”, “forecasts”, “continues”, “estimates”, “intends”, “plans”, “assumes”, “expects”, “anticipates”, “may”, “will” or “should”, or, in each case, their negative or other variations, or comparable terminology, or by discussions of strategy, plans, objectives, future events or intentions. Forward-looking statements can, and often do, differ materially from actual results. Each forward-looking statement reflects the Company’s current view with respect to future events and is subject to risks relating to future events and other risks, uncertainties and assumptions concerning the Company’s business, operating results, financial position, liquidity, prospects, growth or methods. Forward-looking statements are based only as of the date on which they are made.

The offering managers are acting solely for the Blue Lagoon in connection with the offering and for no other entity in relation to the offering of the securities. The offering managers will not regard any other entity as their client in relation to the offering of the securities and will therefore not be responsible for providing any other entity with the protections afforded to their clients,  or for providing advice in connection with the offering of the securities, the content published on this website, or any transaction, arrangement or other matter referred to herein.

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Disclaimer

The IPO of the Blue Lagoon hf. will commence at 10:00 on Tuesday 10 November and end at 16:00 on Friday, 13 November 2026. An open presentation will held in Harpa, Concert & Conference Centre, on Tuesday, 10 November, at 10:00 in Kaldalón.

DJI_20240908190738_0132_D.mp4

Scheduled delivery and first day of trading no later than

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<table>
  <thead>
    <tr>
      <th></th>
      <th style="text-align: left;"><strong>Order Book A </strong></th>
      <th style="text-align: left;"><strong>Order Book B</strong></th>
    </tr>
  </thead>
  <tbody>
    <tr>
      <td><strong>Subscription amount</strong></td>
      <td style="text-align: left;">Subscriptions between ISK 100,000 - 20,000,000.</td>
      <td style="text-align: left;">Subscriptions exceeding ISK 20,000,000.</td>
    </tr>
    <tr>
      <td><strong>Offer price</strong></td>
      <td style="text-align: left;">Fixed price of ISK 95 per share.</td>
      <td style="text-align: left;">Offers shall match or exceed the minimum price of ISK 95 per share. The sale is at a fixed price, set as the lowest of approved offers.</td>
    </tr>
    <tr>
      <td><strong>Size of the offering</strong></td>
      <td style="text-align: left;">45,000,000 shares (30% of the offering).</td>
      <td style="text-align: left;">105,000,000 shares (70% of the offering).</td>
    </tr>
    <tr>
      <td><strong>Allocation for over-subscription</strong></td>
      <td style="text-align: left;">Subscriptions in Order Book A will be reduced pro rata, with efforts mare to allocate in full subscriptions under ISK 1,000,000, and a flat reduction of the highest subscriptions if that is insufficient. Subscriptions by Blue Lagoon employees will not be reduced under ISK 5,000,000.</td>
      <td style="text-align: left;">Subscriptions at or above the offering price in Order Book B will be accepted. However, if this part of the offering is oversubscribed, allocations will be reduced. In the event of reductions in Order Book B, subscriptions will be assessed based on price. Accordingly, subscriptions above the offering price in Order Book B will, where possible, not be reduced. Subscriptions at the offering price in Order Book B will be reduced pro rata, based on the amount subscribed at that price. All accepted offers will be allocated at the same price: the offering price in Order Book B.</td>
    </tr>
  </tbody>
</table>

For sale are 150,000,000 shares, the equivalent of 14.6% of all issued share capital in the Blue Lagoon hf. (the “Blue Lagoon” or “the Company”).

The IPO commences at 10:00 on 10 November 2026, and ends at 16:00 on Friday, 13 November 2026.

Subscriptions are registered electronically on the IPO subscription portal.

Two order books are available, differing in subscription amounts and allocation terms.

Order Book A is for subscriptions in the range of ISK 100,000 to 20 million while Order Book B is for subscriptions exceeding ISK 20,0000,000.

In Order Book A, 45,000,000 shares (30% of the offering) will be offered and in Order Book B 105,000,000 shares (70% of the offering) will be offered. The Company may reallocate shares between Order Books A and B.

The offering price per share in Order Book A is ISK 95. In Order Book B, the minimum bid is ISK 95 per share.

Landsbankinn hf. and Fossar fjárfestingarbanki hf. are joint managers and sales agents for the offering.

Landsbankinn is acting as listing agent for the admission of Blue Lagoon shares to trading on the Nasdaq Iceland Main Market following the offering.

The results of the offering are expected to be announced no later than 16 November 2026.

The Company reserves the unilateral right to determine allocations in the offering.

The due and final date of payment of accepted subscriptions is scheduled on Wednesday, 18 November 2026.

Delivery of the shares is expected to take place no later than Friday, 20 November 2026.

The first day of trading on the Main Market of Nasdaq Iceland hf. is expected to be Friday, 20 November 2026.

If you do not have a custody account, you can open one by registering for securities trading in online banking.

Legal entities participating in the offering are required to have an LEI code.

The subscription page will be available through this website during the subscription period.

Investors may amend a subscription submitted during the subscription period by submitting a new bid or withdrawing a bid already submitted. Any subscriptions not withdrawn during the subscription period will be binding on the relevant investor when the subscription period ends. The Company reserves the right to collect payment for subscriptions in accordance with applicable law or to allocate shares subscribed for by an investor who fails to pay by the due date to other investors, without further notice or warning and together with interest and costs. The Company also reserves the right to cancel subscriptions that remain unpaid at the end of the payment period and reallocate the related shares to other investors.

The offering managers reserve the right to require subscribers to demonstrate their ability to pay or provide security for payment of their subscriptions. If a subscriber does not comply with such a request within the specified time limit, the Company reserves the right to invalidate that subscriber’s subscription, in whole or in part. The Company shall have sole discretion in determining whether confirmation of payment capacity or security is satisfactory. Legal entities participating in the offering are required to have an LEI code (legal entity identifier). If a valid LEI code has not been provided by the end of the subscription period, the subscription will be cancelled. The Company and the offering managers reserve the right to reject subscriptions without prior notice or warning.

The offering is marketed solely in Iceland. The shares sold will not be marketed or offered for purchase outside Iceland in a manner that would constitute a public offering in another jurisdiction.

 Participation in the IPO is open to individuals with an Icelandic Id.No. who are financially competent as defined by the Act on Legal Competence, No. 71/1997, as well as legal entities with an Icelandic Reg.No. who are not insolvent as defined by Act No. 21/1991, on Bankruptcy etc., subject to the restrictions provided for in the Act.

Investors who do not have an Icelandic Id./Reg.No. may submit offers through Order Book B via the IPO managers. The managers reserve the right to require adequate confirmation of the validity of offers.

The Company reserves the right to withdraw the offering if Nasdaq Iceland hf. rejects the Blue Lagoon’s application for admission to trading on the Nasdaq Iceland Main Market; if subscriptions are not received for all shares offered for sale; or for any other reason the Company considers grounds for withdrawal. In such circumstances, subscriptions and allocations will be invalidated. Nasdaq Iceland hf. will publicly announce the first day of trading in Blue Lagoon shares on the Main Market, which is expected to be 20 November 2026.

Investors are reminded that shares are a high-risk investment and that their value may be based on expectations rather than promises. Before making an investment decision regarding shares in the Blue Lagoon, investors should familiarise themselves with the Blue Lagoon’s risk factors, the terms of the offering and other information about the Blue Lagoon contained in the Blue Lagoon prospectus dated 5 November 2026, as well as other documents, disclaimers and information published in connection with the offering and the proposed listing on Nasdaq Iceland.

Landsbankinn Investment & Pension Service Tel: +354 410 4040, email: bl@landsbankinn.is

Corporate Finance at Landsbankinn hf. Tel: +354 410 4000, email: bl@landsbankinn.is

Corporate Finance at Fossar fjárfestingarbanki hf. Tel: +354 522 4000, email: bl@fossar.is

About the Share Offering of Blue Lagoon hf.

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Applying for access to online banking and the app, creating an account and getting a debit card is a matter of minutes.

It’s easy to download Landsbankinn’s app and create access. You’ll also get access to online banking.

We are happy to help review the available financing methods. You can request a phone consultation or make an appointment to come see us at any branch at a time that suits you.

We finance up to 80% of the purchase price for a term of up to 8 years and offer better terms for the purchase of electric cars.

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