At a meeting held on August 27, 2020, the Board of Directors of Lombard Bank Malta p.l.c. took note of the ECB Recommendation on dividend distributions during the COVID-19 pandemic (ECB/2020/35) of 27 July 2020 (and the relative MFSA Circular of 28 July 2020), which inter alia repeals ECB Recommendation ECB/2020/19 referred to above and states that until 1 January 2021 no dividends are paid out and no irrevocable commitment to pay out dividends is undertaken by credit institutions for the financial years 2019 and 2020. On the basis of the above, the Board has resolved to withdraw its recommendation of 23 March 2020 for the payment of a final 2019 dividend.