Vandbaugs veitti sendir
vígrakkr, en gjǫf þakkak
skjaldbraks skylja mildum,
skipreiðu mér, heiða.
Fann næst fylkir unna
fǫl dýr at gjǫf stýri
stálhreins; styrjar deilis
stórlæti sák mæta.
Vígrakkr sendir vandbaugs veitti mér skipreiðu, en þakkak skylja, mildum skjaldbraks, heiða gjǫf. Næst fann fylkir fǫl dýr unna at gjǫf stýri stálhreins; sák mæta stórlæti deilis styrjar.
The battle-brave sender of the rod of the shield-boss [SWORD > WARRIOR = Hákon] provided me with a levy district, and I thank the lord, liberal with shield-crash [BATTLE], for the glorious gift. Next the leader selected pale animals of the waves [SHIPS] as a gift for the steerer of the stem-reindeer [SHIP > SEAFARER]; I saw the noble munificence of the controller of strife [WARRIOR].