Lombard Bank Malta Plc

Legal Proceedings Report • Mar 17, 2020

COMPANY ANNOUNCEMENT

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

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Lombard Bank Malta p.l.c. (the 'Bank') advises that it is closely monitoring the situation resulting from the events relating to the COVID-19 pandemic and the effects which these may have on the Bank's stakeholders, its operations and performance.

The Bank has in place a contingency plan which includes various measures that are being executed as the situation unfolds and circumstances evolve. This plan is also being monitored and updated while constant risk assessments are undertaken in line with developments and recommended measures issued by the Government of Malta, Public Health Authorities and regulators from time to time.

The Bank will also take any further necessary measures to suitably safeguard the wellbeing of its staff members and customers and the continuity of its business operations and to support its customer base.

While the Bank is to date still operating a full branch service, customers are being encouraged to attend branches only for urgent matters, with certain measures having been introduced so as to minimise face-to-face interaction. Customers are reminded to avail themselves of the Bank's electronic banking system which allows them to carry out most transactions.

With respect to the economic impact, mindful that this outbreak may result in consequences on the activities of its business customers, the Bank has also allotted €12.5 million to provide temporary working capital requirements to those business customers facing temporary liquidity shortages.

It is premature to forecast the impact of the pandemic on the financial and operational performance of the Bank itself, more so since developments continue to unfold on a daily basis. Nevertheless, the Bank is confident that it has in place robust financial fundamentals, proper technical resources and a competent staff complement which together will enable it to meet the challenges that the pandemic may present.

The Bank shall continue closely monitoring developments regarding the pandemic as well as its effects on the Bank's operations and performance and shall keep the market updated with any material developments.

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Dr Helena Said LL.D. Company Secretary

17 March 2020

Lombard Bank Malta p.l.c.