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OPERATING DIVISIONS - ORGANISATION CHART

ARRANGEMENT FOR COMMUNICATION BETWEEN THE SHAREHOLDER AND THE BOARD

The company has a single shareholder: the Icelandic State Treasury. The Minister for Finance exercises the shareholder rights. Notices of shareholder meetings are sent to a contact at the Ministry of Finance and Economic Affairs. Shareholder meetings are the primary venue for providing information to the shareholder, which holds supreme power over the company’s affairs. Other communications with the shareholder on company matters are usually initiated by the company, and include meetings between the Chairman and Managing Director on the one hand and the Minister or his deputy on the other hand. The Board conducts its activities in accordance with the government ownership policy document entitled General State Ownership Policy: Limited Liability Companies and Partnerships. The company issues press releases on its financial results and other aspects of its activities.

ORGANIZATIONAL CHART


CHIEF EXECUTIVE OFFICER (CEO)

The CEO is responsible for the management of all day-to-day activities of the company in accordance with the Board’s policy and instructions. Day-to-day activities do not include extraordinary measures or measures of major importance. The Managing Director has decision-making powers over all operational and financial affairs of the company and oversees its assets. The Managing Director reports to the Board on the company’s activities and performance at Board meetings and is answerable to the Board for all day-to-day operations and for full compliance with the company’s Articles of Association and laws and regulations.

EXECUTIVE BOARD

The company’s operations are divided into two divisions at Keflavik Airport responsible for its core activities: Commercial & Airport Development and Service & Operation. There are two support divisions besides the CEO Office: Finance & Human Resources and Digital Development & IT. The heads of the operational and support divisions comprise the Executive Board together with the CEO and the Deputy CEO.

COMMERCIAL & AIRPORT DEVELOPMENT

Commercial & Airport Development handles airlines & route development, commercial & marketing, operation of infrastructure & real estate and airport development & construction.

SERVICE & OPERATION

Service & Operation handles safety management, airport security, passenger service, airside operations and tower control.

FINANCE & HUMAN RESOURCES

Finance & Human Resources is responsible for HR functions, planning & analysis, cash & risk management, accounting & settlement, law and procurement.

DIGITAL DEVELOPMENT & IT

Digital Development & IT is responsible for the operation of information technology and digital development.