Amendment to Revolving Credit Facility, dated September 20, 2021, between Nordural Grundartangi ehf, as borrower, and Landsbankinn hf

to the Committed Revolving Credit Facility in the amount of USD 50.000.000,-, between Norðurál Grundartangi ehf., reg. no: 570297-2609, as the Borrower, and Landsbankinn hf., reg. no. 471008-0280, as the Bank, dated November 27th 2013 (hereinafter referred to as the “Agreement”).

For new extended Termination Date according to clause 1 of this Amendment and in accordance with clause 14.5 of the Agreement, the Borrower shall pay the Bank an extension fee amounting to 0,20% of the Facility Amount.

The Borrower accepts by signing this Amendment that the extension fee will be charged of the Borrower’s bank account no. 0186-38-100220.

Other than as specifically stated in this amendment other terms of the Agreement shall remain unaffected and continue to be fully enforceable by the Bank. In addition all security of any kind originally granted in favor of the Bank to secure liability of the Borrower arising under the Agreement (whether or not assigned to the Bank) shall remain fully effective and any such security shall secure all monies owed (now and in the future) by the Borrower to the Bank both under the Agreement as varied by this amendment and under any other document howsoever arising.

The parties hereto have caused this Amendment to be duly executed in