Bank of Valletta plc

AGM Information • Dec 20, 2013

Bank of Valletta p.l.c. Office of the Company Secretary 58, Zachary Street, Valletta VLT 1130 - Malta Telephone: (356) 2275 3032, 2275 3231 - Fax: (356) 2275 3711

BOV/247

COMPANY ANNOUNCEMENT

The following is a Company Announcement issued by Bank of Valletta p.l.c. pursuant to the Malta Financial Services Authority Listing Rules:

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Bank of Valletta p.l.c. (the Company) announces that the 40th Annual General Meeting, held on Thursday 19 December 2013, approved all the resolutions on the agenda, namely:

ORDINARY RESOLUTIONS

• 1. That the Profit and Loss Account and Balance Sheet for the year ended 30 September 2013, and the Directors' and Auditors' Reports thereon, be hereby received and approved.
• 1. That a gross final dividend of €0.13 per share, which represents a gross payment of €39,000,000 as recommended by the Directors, be hereby approved for payment on the 20 December 2013.
• 1. That the re-appointment of Deloitte Audit Limited jointly with Deloitte LLP (United Kingdom), as auditors, be hereby approved, and that the Board of Directors be hereby authorised to fix their remuneration.

ORDINARY RESOLUTION - SPECIAL BUSINESS

• 1. the Memorandum of Association is deleted and substituted by the following text:
  2. "4. The authorised share capital of the Company is €500,000,000 divided into 500,000,000 shares of €1.00 each.

The issued and fully paid up capital is €330,000,000 divided into 330,000,000 ordinary shares of a nominal value of €1.00 each."

ii) That, on Friday, 17 January 2014, the amount of €30,000,000 from the Company's reserves is capitalised for the purpose of a bonus issue of 30,000,000 fully paid ordinary shares of a nominal value of €1.00 per share, representing 1 bonus share for every 10 shares held, to be allotted to the members appearing on the Register of Members of the Malta Stock Exchange as at the close of business on the 17 January 2014 (Eligible Members), thereby increasing the issued share capital from the current 300,000,000 shares to 330,000,000 shares of €1,00 each fully paid up, resulting in a paid up capital of €330,000,000.

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Since the allocation ratio of bonus shares to registered shares held by the Eligible Member is 1 bonus share for every 10 shares held, in the allocation process the Company shall, where the number of shares held by the Eligible Member is not exactly divisible by 10, round up the allocation to the nearest share whenever the mathematical result of the allocation formula contains a fractional entitlement which is of 0.5 of a share or more, and round down to the nearest share in the event that the mathematical result of the allocation formula contains a fractional entitlement which is of less than 0.5 of a share.

ELECTION OF DIRECTORS

Following the 40th Annual General Meeting, the BOV Board of Directors is composed of the following:

Mr John Cassar White (Chairman) Mr Joseph Borg Dott Roberto Cassata Mr Mario Grima Mr Taddeo Scerri Mr Paul Testaferrata Moroni Viani Mr George Wells Mr Franco Xuereb Mr Joseph M Zrinzo

A Company Announcement in terms of Listing Rules 5.20 and 5.21 will be issued in due course with respect to Mr Grima and Mr Zrinzo.

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Catherine formosa

Dr. Catherine Formosa B.A., LL.D. Company Secretary

20 December 2013