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The following are the results of Nýherji's Annual General Meeting (AGM), held in the company's conference hall at Borgartún 37, at 4:00 pm on 19 February 2010: 1. The company's annual financial statements were submitted and adopted unanimously. 2. A motion was approved to the effect that no dividends would be paid for the 2009 operating year. 3. A motion was adopted proposing that compensation paid to the Board for the 2009 operating year be as follows: To the Chairman of the Board, ISK 2,550,000; to other directors, ISK 850,000; alternate, ISK 63,000 for each meeting attended. 4. The following motion to amend Article 2.1 of the company's Articles of Association was adopted. At the end of the Article, the following temporary provision shall be added: The company's Board of Directors is authorised, cf. Art. 41 of the Act on Public Limited Companies, to increase the company's share capital by up to ISK 120 million with the sale of new shares. The current shareholders waive their pre-emptive rights to acquire these shares. The company's Board of Directors shall determine the offering price of the shares and rules on sale in each instance. Subscriptions shall be carried out as provided for in the company's Articles of Association and Chapter V of the Act on Public Limited Companies. There shall be no restrictions on trading in the new shares. The new shares shall confer rights in the company as of the date the increase in share capital is registered. Nýherji's Board of Directors may exercise this authorisation within three years of its adoption. 5. An authorisation was approved for the company's Board of Directors to acquire up to 10% of the nominal value of the company's shares, cf. Chapter VIII of Act No. 2/1995, on Public Limited Companies. The purchase price of the shares may not be more than 20% above or below the latest listed price on OMX Iceland. This authorisation shall be valid for up to 18 months. 6. It was agreed that the Board of Directors for the coming operating year will be composed of the following: Benedikt Jóhannesson (Chairman of the Board), Árni Vilhjálmsson and Guðmundur Jóh. Jónsson; Jafet S. Ólafsson is an alternate Director. 7. The motion that KPMG hf. be elected as the company's auditor was adopted. The new Board of Directors decided on the division of its tasks at a Board meeting held directly following the AGM. Benedikt Jóhannesson shall serve as Chairman of the Board. Árni Vilhjálmsson was elected Vice-chairman. The Chairman's speech is attached.