LLB General Meeting 2022

Vaduz, 6 May 2022. At the 30^th Ordinary General Meeting of Liechtensteinische Landesbank AG (LLB), shareholders approved all the proposals of the Board of Directors. Accordingly, the dividend rose from CHF 2.20 to CHF 2.30 and Leila Frick-Marxer was elected as a new member of the Board of Directors. Karl Sevelda was re-elected for a second term of office.

On account of the long period of planning uncertainty in connection with the corona pandemic, the General Meeting was held without the personal participation of shareholders. In exercising their rights, shareholders were able to vote in writing or electronically. 75.4 per cent of the share capital, or 3'027 shareholders exercised this right, representing a very high voting turnout. The vote count resulted in a very high approval rate for all the proposals of the Board of Directors.

Elections at the General Meeting
The General Meeting elected Leila Frick-Marxer, Balzers, as a new member of the Board of Directors for a term of office of three years. "In the person of Leila Frick-Marxer, we can welcome to the Board of Directors an acknowledged expert in Liechtenstein and European law, and especially banking and investment fund law. I am looking forward to collaborating with her", said a pleased Board Chairman, Georg Wohlwend, in commenting on the election of the Liechtensteiner, who works at a prestigious law firm. The election was necessary as a result of the stepping down of Patrizia Holenstein, whose maximum term of office of nine years ended at the General Meeting. Georg Wohlwend thanked her for her valuable service to the LLB Group: "For nine years, Patrizia Holenstein has been a highly competent and much valued member of the Board. We would like to express our sincere thanks to her for the extremely positive collaboration and wish her all the best for the future." Board member Karl Sevelda, Vienna, was re-elected for a second term of office of three years. Shareholders also re-appointed KPMG (Liechtenstein) AG, Vaduz, for a further year as the external auditors. Furthermore, the General Meeting granted official discharge to the Board of Directors, the Executive Board and the external auditors.

Dividend of CHF 2.30 per registered share
Shareholders approved the 2021 annual reports and financial statements of LLB AG, Vaduz, and the LLB Group. They voted in favour of the distribution of the balance sheet profit for 2021 proposed by the Board of Directors and resolved to pay out an increased dividend of CHF 2.30 in comparison with CHF 2.20 in the previous year. The decision was based on the long-term, prudent and attractive dividend policy defined by the Board of Directors.

2021 business year posts record growth
The LLB Group can look back on a highly successful business year. Group net profit was increased to CHF 137.9 million, the best business result for over ten years. With a net new money inflow of CHF 7.2 billion, the LLB Group achieved the largest organic growth in its history. In terms of business volume, comprising client assets under management and mortgage loan volume, new record levels were attained. "This extremely good result reflects our dynamic growth, the improved quality of our earnings and our strict cost management. So once again in 2021, we have proven that the LLB Group can grow organically, sustainably and profitably", said Group CEO Gabriel Brenna in summarising the business result at the General Meeting.

Outlook 2022
The market environment remains challenging. Factors such as the threat of inflation, the uncertainties in the geopolitical situation and on the financial markets, as well as the persisting corona pandemic represent a significant risk to economic development. Nevertheless, the LLB Group has made a successful start to the 2022 business year and can look back on a good first quarter. Continuing increases in net new money inflows and loans to clients have confirmed the Groups dynamic growth. Both market divisions Private and Corporate Clients and International Wealth Management have made a balanced contribution to this performance. The LLB Group will strive to achieve a solid business result for the whole 2022 business year. The implementation of the new ACT-26 corporate strategy has also commenced smoothly. During this strategy period up to 2026, the focus will be on the core elements of growth, efficiency and sustainability. An important step in realising the strategy is the purchase of all publicly held shares of Bank Linth. A provisional result has already been obtained in response to the public tender offer for the shares. At the end of the additional acceptance period on 5 May 2022, LLB held a total of 99.69 per cent of the listed Bank Linth shares. Commenting on the share purchase, Group CEO Gabriel Brenna said: "The large number of shares tendered is a strategic success for us. It enables us to delist the shares of Bank Linth from the Swiss exchange, and thus to reduce complexity in order, as a retail bank, to focus even more sharply on clients and their requirements."

Important dates

Tuesday, 10 May 2022, ex-dividend date

Thursday, 12 May 2022, distribution of dividend

 Wednesday, 18 May 2022, provisional completion of public tender offer

 Wednesday, 24 August 2022, presentation of 2022 interim business result

Brief portrait

Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the companys share capital is held by the Principality of Liechtenstein. LLBs shares are listed on the SIX Swiss Exchange (symbol: LLBN). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management and fund services. With 1'056 employees (full-time equivalent positions), LLB is represented in Liechtenstein, Switzerland, Austria and the United Arab Emirates (Abu Dhabi and Dubai). As per 31 December 2021, the business volume of the LLB Group stood at CHF 106 billion.

Best regards

Liechtensteinische Landesbank
Aktiengesellschaft

Dr. Cyrill Sele
Head Group Corporate Communications & Sustainability

Liechtensteinische Landesbank Aktiengesellschaft
Staedtle 44, P. O. Box 384, 9490 Vaduz, Liechtenstein
Telephone +423 236 82 09
E-mail ir@llb.li
Internet https://www.llb.li