Byblos Bank refers to the tender offer and consent solicitation in respect of its $300 million notes due 2021 pursuant to which Noteholders were invited to tender their Notes for purchase by the Bank, subject to the terms more fully set out in the Tender Offer and Consent Solicitation Memorandum dated 28 May 2020, and to vote at a meeting of Noteholders to approve an amendment to the terms and conditions of the Notes to provide for early redemption of the Notes. Capitalised terms in this announcement shall have the meanings given to them in the Tender Offer and Consent Solicitation Memorandum. The Bank hereby confirms that (i) as at 10:00 a.m. (Beirut time) on 18 June 2020 (being the Expiration Deadline), an aggregate nominal principal amount of Notes equal to $211,774,000 have been validly tendered; and (ii) the Conditions to the Offer have each been satisfied. The Tender Offer Consideration is expected to be paid by the Bank in respect of the Notes which have been validly tendered, in accordance with and subject to the Tender Offer and Consent Solicitation Memorandum, on the Settlement Date, which is currently anticipated to be 29 June 2020.