Established in 2008, Landsbréf hf. is now one of the largest fund management companies in Iceland with over ISK 100 billion under active management. The role of Landsbréf is to be a dynamic actor in the Icelandic economy, bridging the gap between savings and investment through active asset management. Landsbréf manages a varied selection of funds and companies investing in various aspects of the Icelandic economy and in foreign securities markets. Landsbréf serves both individuals as well as professional clients. Divided into four teams, the 16 expert employees of Landsbréf have an average of 10 years of experience of financial markets. Landsbréf is a financial undertaking as defined in Act No. 161/2002, on Financial Undertakings, and is licensed by the Financial Supervisory Authority of Iceland to operate mutual funds, investment funds and institutional investment funds and handle asset management for others. Landsbréf hf. is a subsidiary of Landsbankinn hf. The majority of directors are independent of Landsbankinn and Landsbréf operates as an independent financial undertaking. The Board of Directors The Board of Directors of Landsbréf is ultimately responsible for the Company’s activities as provided for by law, regulations and its Articles of Association. The Board of Directors formulates the Company’s general strategy and is to ensure that the Company’s organisation and activities are adequate and effective at all times. The Board of Directors of Landsbréf shall consist of at least five persons and two alternates, elected at the AGM for a one-year term. Directors must satisfy the eligibility requirements provided for in the Act on Financial Undertakings.