MaltaPost Plc

Business and Financial Review • May 8, 2020

COMPANY ANNOUNCEMENT

INTERIM DIRECTORS' STATEMENT

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

QUOTE

MaltaPost plc (the Company) refers to the Company Announcement of the 13 April 2020 advising that it continues to monitor developments resulting from the impact of the COVID-19 pandemic and also keep the market informed accordingly.

During these difficult and unprecedented times, the Company has continued to keep the health and safety of all its employees at the top of its priority list in strict adherence to the guidelines issued by Government and the National Health Authorities from time to time.

This underlying principle has been extended throughout our network of offices in Malta and Gozo where preventive measures continue to be implemented also for the benefit of all our customers.

In spite of the challenges being faced we have continued to deliver postal services uninterruptedly, with only minor disruptions, mainly in deference to consideration of health and safety issues.

However, other areas of operational activity have been significantly affected, not least by the sharp decline in flight connections to and from Malta. As may well be expected, this unplanned interruption is having a negative impact on some of our more important revenue streams and which we are in part rigorously mitigating through the efficient and judicious management of costs, together with other related efficiencies. Currently it is not at all clear when the situation regarding flights is likely to return to normal.

Given the very fluid nature of the challenges imposed by the COVID-19 pandemic, the Company continues to focus attention on the Risk Management strategies which it has in place in order to minimise, the related adverse effects on the Company's stakeholders.

The Company is however reassured by the loyalty and dedication of all its staff members who continue to perform well in the face of extremely challenging times.

UNQUOTE

Graham A. Fairclough Company Secretary

8 May 2020