Bank of Valletta plc

Board/Management Information • Oct 13, 2022

BOV/442

COMPANY ANNOUNCEMENT

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

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Regulatory Approval for Chief Executive Officer – Mr Kenneth Farrugia

Bank of Valletta p.l.c. (the 'Bank') hereby announces that further to Company Announcement 440 published on 15 September 2022 relating to the appointment of the Bank's Chief Executive Officer, regulatory approval has now been obtained for the appointment of Mr Kenneth Farrugia as Chief Executive Officer and Executive Director of the Bank.

In this respect and following receipt of the captioned regulatory approval, the incumbent Chief Executive Officer Mr Rick Hunkin has relinquished his position of Chief Executive Officer and Executive Director of the Bank.

There are no matters concerning Mr Rick Hunkin that warrant any disclosure in terms of the Capital Market Rules.

The Board expresses its gratitude to Mr Hunkin for his service over the past three years, especially for the governance and transformation improvements achieved in extraordinarily difficult circumstances. It wishes him every success in his future endeavours.

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Dr. Ruth Spiteri Longhurst B.A., LL.D. Company Secretary

13 October 2022