APS Bank Plc

Prospectus • May 24, 2022

Approval of Prospectus and Information Related to Initial Public Offering

24 May 2022 APSB25

Reference is made to company announcement APSB24 dated 16 May 2022 wherein a proposed public issue of 100,000,000 new ordinary shares, with an over-allotment option of an additional 10,000,000 new ordinary shares, (the "New Shares") at an issue price of €0.62 per share ("IPO") was communicated.

The Bank is pleased to announce that on 24 May 2022 the Malta Financial Services Authority approved the prospectus to be published in connection with the IPO ("Prospectus"), as well as the Bank's Application for Authorisation for Admissibility to Listing of the Bank's ordinary shares on the Official List of the Malta Stock Exchange. The general public as well as preferred applicants (being directors or employees of the APS group or registered bondholders of the Bank, in each case as at close of business of 23 May 2022) are invited to submit their applications for New Shares as from Friday 3 June 2022. The minimum application size shall be of 1,000 New Shares.

Applications for New Shares must be made using the relevant application form set out in the Prospectus and all applications must be submitted to one of the Authorised Intermediaries listed in Annex B ("AIs") of the Prospectus. Application forms to be used by the Bank's bondholders will be pre-printed and mailed to bondholders on or around 1 June 2022; application forms to be used by employees of the APS group will be made available from the Bank's offices on or around 1 June 2022; and application forms to be used by the general public will be made available after 1 June 2022 from any of the AIs, as well as on the Bank's website (apsbank.com.mt/ipo). Unless the Bank decides to close the offer period earlier, the offer period shall close on Friday 17 June 2022.

As the Bank has already committed to issue 69,681,981 New Shares to a number of investors (in the pre-allocation process as described Prospectus), the Bank wishes to inform the market that a total of 40,318,019 New Shares, including the additional 10,000,000 New Shares which may be issued if the Bank exercises the over-allotment option in full, will be available for subscription by the general public and preferred applicants during the offer period.

The Prospectus will be available for download from the Bank's website (apsbank.com.mt/ipo) as from 26 May 2022. Printed copies of the Prospectus will be available from AIs as from 1 June 2022.

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Graziella Bray B.A., LL.D, FCG

Company Secretary