Bank of Valletta plc

Capital/Financing Update • May 21, 2025

BOV508

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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Issue of Series 2 Tranche 1 Bonds under its existing Unsecured Euro Medium Term Bond Programme: Approval of Final Terms

Further to Company Announcement BOV 505 issued on the 29th April 2025, wherein the Board of Directors of Bank of Valletta p.l.c (the "Bank") announced that it resolved to issue a first tranche of bonds forming part of a second series of bonds under its existing Unsecured Euro Medium Term Bond Programme (the "Series 2 Tranche 1"), the Bank is pleased to announce that on the 20th May 2025, it has approved the final terms relating to the Series 2 Tranche 1 bonds (the "Final Terms"), which shall be published in due course.

The Bank intends to issue the Series 2 Tranche 1 in the form of an issue of €100 million (with an overallotment option on the part of the Bank, which may result in such offer being increased to a maximum offer amount of up to €150 million) 5% unsecured subordinated bonds due 2030-2035 (the "Bonds"). The Bonds will be available for subscription by all categories of investors and will be distributed as follows:

• a) An amount of €50 million in Bonds will be reserved for subscription by:
• i) Bondholders and Shareholders of the Bank, namely holders of:
  • o 3.50% Bank of Valletta p.l.c. Subordinated Bonds 2030 (Series 1) bearing ISIN MT0000021312;
  • o 3.50% Bank of Valletta p.l.c. Subordinated Bonds 2030 (Series 2) bearing ISIN MT0000021320;
  • o 3.75% Bank of Valletta p.l.c. Subordinated Bonds 2026/31 bearing ISIN MT0000021353;
  • o 5% Bank of Valletta p.l.c. Subordinated Bonds 2029/34 (Series 1) bearing ISIN MT0000021361; and
  • o shares forming part of the issued share capital of the Bank;

appearing on the respective registers as at 27 May 2025 (with last trading session of the 23 May 2025) (the "Cut-Off Date");

• ii) employees of the Bank or any of its subsidiaries as at the Cut-Off Date;
• b) An amount of €35 million in Bonds will be reserved for subscription by Professional Clients and Eligible Counterparties (each as defined in the Conduct of Business Rulebook issued by the Malta Financial Services Authority); and
• c) The remaining €15 million in Bonds will be made available for subscription to the general public.

Any portion not fully subscribed to by a particular category of investor will be made available for subscription to another category.

Applications will be subject to a minimum subscription amount of €10,000 and in multiples of €100 thereafter with the exception of applications by Professional Clients and Eligible Counterparties outlined in (b) above which will be subject to a minimum subscription amount of €100,000 and in multiples of €100 thereafter.

The offer period for the Bonds is expected to open on Monday 9th June 2025.

Applications for Bonds by retail clients will be subject to a suitability test conducted by the authorised financial intermediary irrespective of the investment service being provided.

Further information, including the publication of the final terms relating to the Series 2 Tranche 1, will be made available in due course.

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

21 May 2025