Bank of Valletta plc

Capital/Financing Update • Nov 30, 2015

BOV/280

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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Offer by Bank of Valletta p.l.c. ("BOV") for subscription of a maximum of €75,000,000 3.50% p.a. Subordinated Notes 2030

Due to general demand and for the purpose of allowing authorised financial intermediaries sufficient time to conduct the necessary appropriateness tests or suitability tests (as applicable), BOV has revised the expected timetable set out in the Final Terms Series No:1/2015, Tranche No:1 and Final Terms Series No:2/2015, Tranche No:1 (together the "Final Terms") so as to extend the closing date for application for the subscription of Subordinated Notes by Preferred Applicants (as this term is defined in the Final Terms) from 30 November 2015 to the closing date for application for subscription of Subordinated Notes by the general public, that is 4 December 2015. Accordingly, the closing date for application for the subscription of Subordinated Notes by both the general public and Preferred Applicants is now 4 December 2015 (or earlier at the discretion of BOV in accordance with the Final Terms).

The extended application period also applies to any Preferred Applicant who has already submitted his/her application for subscription of Subordinated Notes and wishes to revise his/her application. In these instances, such Preferred Applicants are to consult an authorised financial intermediary.

The Subordinated Notes are complex financial instruments and may not be suitable for all types of retail investors. The notes are subordinated and unsecured. The value of investments may increase as well as decrease. Past performance is not an indication of future performance. Prospective investors should consult a licenced financial intermediary before investing in the Subordinated Notes. The full prospectus outlines the risk factors relating to this issue which a prospective investor should be aware of.

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

30 November 2015