BOCH.L Regulatory News (BOCH)

Announcement

Changes in the Board Composition

Nicosia, 15 April 2020

Bank of Cyprus Holdings Public Limited Company ("BOC Holdings" and, together with its subsidiaries, the "Group"), and Bank of Cyprus Public Company Limited (the "Bank") at their corresponding meetings held today, 14 April 2020, decided to appoint Mr Nicos Sofianos as member of the Board of Directors on each of these Boards, subject to approval by the European Central Bank ("ECB"). Once approved by the ECB, Mr Sofianos will also participate as a member of the Audit Committee.

Mr Sofianos is a graduate of the University of Manchester in the UK where he was awarded an Honours Degree in Chemical Engineering, with a major in Mathematical Modelling and Computer Simulation. He is a qualified Chartered Accountant, member of the Institute of Chartered Accountants in England and Wales (ICAEW) and a member of the Body of Certified Public Accountants of Greece (SOEL). He was one of the founding partners of Deloitte, Greece and representative of the firm before the Regulatory, Supervisory and Fiscal Authorities in Greece. In July 2016, Mr Sofianos retired with 40 years of audit and broader professional experience. Over the course of his professional journey, he has acquired extensive experience in the coordination of accounting, auditing, tax and consulting services rendered to a wide range of companies covering nearly all sectors of industry and, in particular, the financial services industry sector. Mr Sofianos currently serves as Audit Committee Chairman of Aegean Airlines S.A.

The Boards of BOC Holdings and the Bank also announce that Mr Maksim Goldman has informed the Boards that consistent with good corporate governance on rotation matters, he will not be offering himself for re-election as Vice Chairman post the upcoming AGM of both companies, having served almost 5 years in this position. At the same time and as part of the Board Committee rotation practice that is currently being implemented, Mr Goldman has informed the Boards that he wishes to rotate out of the Nominations & Corporate Governance Committee. More details will be announced when the new composition of the Board Committees will be approved by the Boards.

The Boards of BOC Holdings and the Bank further announce that Mrs Anat Bar Gera has submitted her resignation as a member of the Board of Directors of both Boards to pursue alternative business opportunities. The Boards at their respective meetings held on 14 April 2020 accepted Mrs Bar-Gera's resignation effective from the next AGM date of each company. The Boards would like to thank Mrs Bar-Gera for her contribution to the Group.

Group Profile

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 108 branches in Cyprus, of which 11 operate as cash offices. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,134* staff worldwide. At 30 September 2019, the Group's Total Assets amounted to €21.1 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.

\* The Bank of Cyprus Group employed 4,134 staff worldwide as at 30 September 2019. The number of staff has been reduced by c.470 employees following the completion of a voluntary staff exit plan in October 2019.