Bank of Valletta plc

Prospectus • Nov 10, 2015

Bank of Valletta p.l.c. Office of the Company Secretary House of the Four Winds, Triq l-Imtieħen, Il-Belt Valletta VLT 1350 – Malta Telephone: (356) 2275 3032, 2275 3231 Fax: (356) 2275 3711

BOV/277

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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Issue of Prospectus and Supplement by Bank of Valletta p.l.c. in relation to a Subordinated Debt Issuance Programme and Offer for subscription of €75,000,000

3.50% p.a. Subordinated Notes 2030 (the "Notes")

In terms of Section 99 of the Companies Act (Cap. 386, Laws of Malta) and Listing Rule 4.48, notice is hereby given that Bank of Valletta p.l.c. (the "Issuer") has issued a base prospectus dated 16 October 2015 (the "Prospectus") as supplemented on the 9 November 2015 in relation to a Subordinated Debt Issuance Programme (the "Offering Programme"). The maximum aggregate nominal amount of Notes that the Issuer may issue under the Offering Programme will not exceed €150,000,000 (or its equivalent in any other currency). Notes under the Offering Programme may be issued in a continuous or repeated manner up to 15 October 2016.

The Issuer has issued final terms (the "Final Terms") dated 10 November 2015 in relation to Series 1/2015, Tranche 1 and Series 2/2015, Tranche 1 to be offered for subscription under the Offering Programme. The maximum aggregate nominal amount of Notes to be offered for subscription in any one or a combination of Series 1/2015, Tranche 1 and Series 2/2015, Tranche 1 is €75,000,000. An amount of a maximum of €40,000,000 out of the €75,000,000 has been reserved for the Issuer's shareholders, directors and staff (collectively the "Preferred Applicants").

Application has been made to list the Notes to be issued under Series 1/2015, Tranche 1 and Series 2/2015, Tranche 1 on the Official List of the Malta Stock Exchange. The Notes are being offered at par (€100 nominal).

Rizzo, Farrugia & Co. (Stockbrokers) Limited and Jesmond Mizzi Financial Advisors Limited have been appointed as joint sponsors in relation to the application for authorisation for admissibility to listing of the Notes. Copies of the Prospectus, Supplement and Final Terms, as well as application forms can be obtained during office hours from the 13 November 2015 from branches of Bank of Valletta p.l.c. and from other authorised financial intermediaries, contact details of which can be found in Annex II of the relevant Final Terms. The Prospectus, Supplement and Final Terms may also be downloaded from the website of Bank of Valletta p.l.c. (www.bov.com).

Application forms in respect of Series 1/2015, Tranche 1 will be available from all branches of Bank of Valletta and other Authorised Financial Intermediaries. Application forms in respect of Series 2/2015, Tranche 1 will be available only from other Authorised Financial Intermediaries.

The Notes are subordinated and unsecured. The value of investments may increase as well as decrease and past performance is not an indication of future performance. Prospective investors are urged to read the Prospectus, the Supplement and the Final Terms, particularly the Risk Factors contained in section 6 of the Prospectus.

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

10 November 2015

Registered Office: 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130 - Malta Registration Number: C 2833 Bank of Valletta p.l.c. is a public limited company licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap.371 of the Laws of Malta) and the Investment Services Act (Cap.370 of the Laws of Malta). Bank of Valletta p.l.c. is an enrolled tied insurance intermediary of MSV Life p.l.c. MSV Life is authorised by the Malta Financial Services Authority to carry on long term business of insurance under the Insurance Business Act 1998. Bank of Valletta p.l.c. is authorised to act as a trustee by the Malta Financial Services Authority.