Bank of Valletta plc

Capital/Financing Update • Dec 5, 2025

BOV546

COMPANY ANNOUNCEMENT

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

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Allocation policy in respect of the issue by Bank of Valletta p.l.c. of Series 1 Tranche 1 Bonds under the Unsecured Medium Term Bond Programme

Reference is made to company announcement BOV544 issued on 26 November 2025, wherein the Bank announced the exercise of the Over-Allotment Option in full as well as closure of the offer period relating to a first tranche of bonds under its €325 million Unsecured Euro Medium Term Bond Programme (the "Bonds").

The Bank is pleased to announce the allocation policy in terms of section 8(i) of the final terms dated 17 October 2025 (the "Final Terms"). Any capitalised term in this announcement has the same meaning assigned to it in the Final Terms, unless defined otherwise herein.

In determining the allocations, the board of directors followed the process described in section 8(vi) of the Final Terms and sought to ensure a balanced scale-down of applications for both Preferred Applicants and the general public.

The Bank received a total of 3,312 applications (including applications under nominee) for a total value of €130,870,000 split out as follows:

• 33 applications (including under nominee applications) for a total value of €37,170,000 in Bonds were received by the Bank from Professional Clients and Eligible Counterparties;
• 2,302 applications (including under nominee applications) for a total value of €68,232,000 in Bonds were received by the Bank from Existing Shareholders, Existing Bondholders and Group Employees; and
• 977 applications (including under nominee applications) for a total value of €25,468,000 were received by the Bank from the general public.

Based on the above figures, the Bank hereby announces the basis of acceptance for the Bonds as illustrated below:

	Basis of acceptance	Applications met in full	Total Allocation
Existing	First €150,000 in full and	2260 applications	€64,992,400
Shareholders,	62.59% on the remaining	representing 98.18% of
Existing	amount rounded to the	total applications
Bondholders and	nearest €100.	received from Existing
Group		Shareholders, Existing
Employees		Bondholders and Group
		Employees.
Professional	First €5,000,000 in full	31 applications	€35,007,600
Clients and	and 79.406% on the	representing 93.94% of
Eligible	remaining amount	total applications
Counterparties	rounded to the nearest	received from
	€100.	Professional Clients and
		Eligible Counterparties.
General public	First €150,000 in full and	962 applications	€25,000,000
	80.539% on the	representing 98.47% of
	remaining amount	total applications
	rounded to the nearest	received from the
	€100.	general public

Interest on the Bonds will start accruing as from today 5 December 2025, with the first interest payment covering the period between 5 December 2025 and 4 December 2026 (both days included), being made on 5 December 2026.

Refunds of unallocated monies and dispatch of allotment letters will be affected by not later than 12 December 2025.

The Bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 12 December 2025 whereas trading in the Bonds is expected to commence on 15 December 2025.

The Bank would like to take this opportunity to thank all participating investors and authorised financial intermediaries that have contributed to making this issue of Bonds a resounding success.

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

Company Secretary

5 December 2025