Holding(s) in Company

In brief · summary, not quotable

Kvika banki hf. has notified Amaroq Ltd. of a change in its major holdings, specifically an acquisition or disposal of voting rights and financial instruments. As of January 15, 2026, Kvika banki hf.'s total voting rights in Amaroq Ltd. have decreased to 2.77%, representing 12,823,288 voting rights, down from a previous notification of 3.14% or 14,250,646 voting rights. This change reflects a decrease in direct voting rights to 2.66% (12,354,458 shares) and indirect voting rights to 0.10% (468,830 shares).

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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Amaroq Ltd.

Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)

Non-UK issuer

Reason for the notification (please mark the appropriate box or boxes with an “X”)

An acquisition or disposal of voting rights	X
An acquisition or disposal of financial instruments	X
An event changing the breakdown of voting rights
Other (please specify):
3. Details of person subject to the notification obligation
Name	Kvika banki hf.
City and country of registered office (if applicable)	Reykjavík, Iceland
4. Full name of shareholder(s) (if different from 3.)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached:	15.01.2026
6. Date on which issuer notified (DD/MM/YYYY):	16.01.2026

Total positions of person(s) subject to the notification obligation

	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B)
Resulting situation on the date on which threshold was crossed or reached			2.77%	12,823,288
Position of previous notification (if applicable)			3.14%	14,250,646
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)			Number of voting rights	% of voting rights
Direct (DTR5.1)		Indirect (DTR5.2.1)	Direct (DTR5.1)	Indirect (DTR5.2.1)
CA02312A1066	12,354,458	468,830	2,66%	0,10%
SUBTOTAL 8. A			12,823,288	2,77%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument	Expiration date	Exercise/Conversion Period	Number of voting rights that may be acquired if the instrument is exercised/converted	% of voting rights

SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument	Physical or cash Settlement	Number of voting rights	% of voting rights
SUBTOTAL 8.B.2
Name	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Kvika banki hf. Kvika Asset Management	1,07% 1,59%	0,10%	1,07% (4,971,340) 1,69% (7,851,948)
10. In case of proxy voting, please identify:
Name of the proxy holder			N/A

The number and % of voting rights held

The date until which the voting rights will be held

Additional information

Place of completion	Reykjavik, Iceland
Date of completion	16.01.2026

Amaroq Ltd.

Ed Westropp, Head of BD and Corporate Affairs

Eddie Wyvill, Corporate Development

Panmure Liberum Limited (Nominated Adviser and Corporate Broker)

Scott Mathieson

Freddie Wooding

Canaccord Genuity Limited (Corporate Broker)

James Asensio

Harry Rees

Camarco (Financial PR)

Billy Clegg

Elfie Kent

Fergus Young

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