Statement regarding Abu Dhabi Commercial Bank

The Company announces that it has been informed by lawyers acting for Abu Dhabi Commercial Bank PJSC ("ADCB") that ADCB has filed an application dated 2 April 2020 with the High Court of Justice, Business and Property Courts of England and Wales, Insolvency and Companies List (ChD) for the appointment of administrators in respect of the Company under paragraph 12(1)(c) of Schedule B1 to the Insolvency Act 1986 (the "Application"), and that a hearing has been scheduled for 9 April 2020.

The Board is in discussions with ADCB and other creditors to address creditors’ concerns; to have the application withdrawn; and to avoid the appointment of administrators, which it does not believe would be in the interests of stakeholders as a whole. The resolution is likely to involve material changes to corporate governance of the group and the composition of the Board itself.

The individual responsible for releasing this announcement is Simon Watkins, Group Company Secretary.