Lombard Bank Malta Plc

Legal Proceedings Report • Jun 5, 2023

COMPANY ANNOUNCEMENT

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

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Lombard Bank Malta p.l.c. (the 'Bank') refers to previous Company Announcements regarding a decision taken and penalties imposed on the Bank by the Financial Intelligence and Analysis Unit (the 'FIAU') resulting from an inspection carried out in 2019. The Bank had instituted legal proceedings before both the Court of Appeal and the First Hall Civil Court, in its Constitutional Jurisdiction claiming, among other things, a breach of its fundamental human rights.

The First Hall Civil Court, in its Constitutional Jurisdiction today delivered a judgement ruling, inter alia, that the FIAU decision in the Bank's regard as well as the relative administrative penalties are null and void as they are considered unconstitutional and in breach of the Bank's right to a fair hearing by an independent and impartial court as enshrined in the Constitution of Malta.

While this judgement may be appealed, the Bank welcomes the Court's decision and remains committed to ensuring continued vigilance and investment in its technical and human resources so as to prevent the use of the Bank's services for any form of illicit activity.

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Helena Said Company Secretary 5 June 2023

[Ref. LOM 284]