A- Credit Rating Affirmed and SACP Upgraded

S&P Global Ratings has affirmed Landsvirkjun’s credit rating at A- with a continued stable outlook. Alongside the affirmation, S&P has upgraded the Company’s stand-alone credit profile (SACP) from bb+ to bbb-. The upgrade follows a reassessment of Landsvirkjun’s business risk profile, now considered satisfactory rather than fair, reflecting the Company’s efficient and diversified generation fleet, strong market position, and long-term contract structure.

The affirmation reflects S&P’s confidence that Landsvirkjun will continue to maintain credit metrics aligned with its current rating, and that the Company has the capacity to execute its large-scale investment program in a timely and cost-effective manner, while preserving adequate liquidity.