Lombard Bank Malta p l c : Rights Issue 2023 – Update

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Lombard Bank Malta p.l.c. pursuant to the Capital Markets Rules issued by the Malta Financial Services Authority.

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Reference is made to the previous Company Announcements issued by Lombard Bank Malta p.l.c. (the 'Bank') in relation to the rights issue pursuant to which the shareholders appearing on the Bank's register of members as at close of business on the 19 September 2023 (the 'Existing Shareholders' and 'Record Date' respectively) or their assignees were entitled to subscribe for up to 61,828,332 New Ordinary Shares in the Bank, at a ratio of two (2) New Ordinary Shares for every three (3) Ordinary Shares held by them as at the Record Date at an offer price of €0.75 per share (the 'Rights Issue'). The terms and conditions of the Rights Issue are set out in a prospectus published by the Bank and dated 20 September 2023 (the 'Prospectus'). Unless otherwise defined in this Company Announcement, capitalized terms shall have the definition set out in the Prospectus.

The offer period in respect of the Rights Issue closed on 26 October 2023 at 10:00 hours in accordance with the timetable set out in the Prospectus.

The Bank has received Forms of Acceptance, Authority and Election (FAAEs) from Existing Shareholders and assignees for the subscription of 47,911,975 New Ordinary Shares, limitedly in so far as their respective Proportionate Entitlement is concerned.

The proceeds of the Rights Issue from Existing Shareholders and/or their assignees amount to circa €36 million.

Not all the rights to subscribe for New Ordinary Shares were accepted or validly assigned by Existing Shareholders by the close of the Rights Issue Offer Period. Therefore, there remained a balance of New Ordinary Shares equivalent to the number of lapsed rights resulting from the Rights Issue, amounting to 13,916,357 New Ordinary Shares (the 'Excess Shares').

During the Rights Issue Offer Period, a number of Existing Shareholders having accepted their Proportionate Entitlement also applied for 1,485,613 of the Excess Shares. This has resulted in a residual balance of 12,430,744 Excess Shares, which shall be available for subscription at the offer price of €0.75 per share by the following applicants in the following order of preference:

1. Preferred Applicants (employees and Directors of the Bank and shareholders of MaltaPost p.l.c. as at the Record Date, who are not also Existing Shareholders of the Bank); and
2. the general public.

The applicants referred to in (i) and (ii) above may apply for Excess Shares between 08:30 hours on 1 November 2023 and 10:00 hours on 27 November 2023 (the 'Excess Shares Offer Period') by lodging an application with the Authorised Financial Intermediaries listed in Annex I of the Securities Note forming part of the Prospectus. In the event of over-subscription of the Excess Shares during the Excess Shares Offer Period, the Bank reserves the right to close the Excess Shares Offer early. Excess Shares shall be allocated by the Bank in accordance with the allocation policy set out in the Prospectus. The Bank will announce the results of the Excess Shares Offer

following the close of the Excess Shares Offer Period.

1.

Full details on the Excess Shares Offer are included in the Prospectus, available on the Bank's website at https://www.lombardmalta.com/en/rights-issue-2023.Printed copies of the Prospectus may be obtained from the Bank's registered office and its branch network or from any of the above- mentioned Authorised Financial Intermediaries.

While thanking its shareholders who participated in the Rights Issue for their continued trust and support, the Bank looks forward to proceeding further with the Excess Shares Offer.

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Helena Said

Company Secretary

30 October 2023

[Ref. LOM 295]

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