TM : NOTIFICATION OF CANDIDACY TO THE BOARD OF DIRECTORS OF TM HF.

NOTIFICATION OF CANDIDACY TO THE BOARD OF DIRECTORS OF TM HF.

According to Article 63(a) of Act No. 2/1995 on Public Limited Companies and the Guidelines of the governance practices of companies (5th issue), persons intending to stand for election to the Board of Directors of TM hf. must send written notification of their candidacy, together with providing, at the same time, certain information to the company's Nomination Committee at the very latest five days before the shareholders' meeting in which the election takes place.

The company's Nomination Committee shall review the candidature announcements submitted within a specified deadline and provide the candidate with the opportunity of rectifying defects in their notifications, if any. The Nomination Committee, moreover, assesses the independence of candidates on the basis of available information. Such assessment, together with the information below on the candidates, shall be made available on the website of TM two days prior to the shareholders' meeting at the latest.

The information to be provided by the candidate is as follows:

1. Name, ID No., Address:
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2. Education, chief occupation and professional experience:
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3. Date first elected to the company's Board:
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4. Other commissions of trust, including membership on the board of other companies:
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5. Shares in the company, whether direct ownership or through associated parties:
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6. Stakeholder interests with the principal trading partners, competitors and shareholders holding more than 10% of the shares in the company:_________________________________________________________________________
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1. Whether the candidate has been an employee of the company or closely associated company in the past three years:
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2. Whether the candidate has accepted payments and, in such case, how large, from the company, a closely as- sociated company or theday-to-day management of the company in the past three years, with the exception of a director's fee: ____________________________________________________________________________________
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3. Whether the candidate has, as a customer, supplier or partner, been involved in significant business relations with the company or closely associated companies in recent years or has personally, or through another company owned by others, significant business interests in TM:
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4. Whether the candidate is one of the executive directors of another company where one of the board mem- bers of that company is an executive director in TM:
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5. Whether the candidate has been a partner of the external auditing company of the company or a closely as- sociated company or the employees of a company that has taken part in the external auditing of the companies in the past three years:
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6. Whether the candidate is related to an executive director of the company and/or related parties as specified in Items7-11 above through marriage or co-habitation, a relative in the descending or ascending line or con- nected in the same manner due to adoption:
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This candidacy is for

Board membership_

Alternate Board membership

The candidate declares that the above information is provided to the best of his knowledge, and he believes he fulfils the legal competence requirements for membership of the Board. The candidate, moreover, declares that he will be present at the share- holders' meeting in which the election to the Board of Directors takes place unless there is a valid reason for his absence. The company shall be notified (e-mail/address) in the event of absence and the reason thereto prior to the shareholders' meeting.

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Place/Date	Signature of candidate