Bank of Valletta plc - Allocation Policy

On 22 March 2016, Bank of Valletta plc published its allocation policy with respect to the recent issue of €50 million Subordinated Notes carrying a coupon of 3.5% and maturing in 2030.

The announcement explained that the Bank received 514 applications for a value in excess of €36.59 million split up as follows:

• Applications for subscriptions totalling €14,214,700 were received in respect of Series1/2016, Tranche 2 Notes
• Applications for subscriptions totalling €22,376,200 were received in respect of Series 2/2016, Tranche 2 Notes.

All applications were met in full.

Interest on the Notes will start accruing from today, 22 March and the first interest payment will be effected on 8 August 2016. Allotment advices will be processed by not later than next Wednesday 30 March. The Notes are expected to be admitted to the Official List of the Malta Stock Exchange on 8 April 2016 with trading expected to commence thereafter.

Since the second tranche of Notes will be fungible with the first tranche of Notes already in issue, the consolidation therewith will be effective on the first interest payment date, being 8 August 2016.