Change of Depositary Bank

ANNOUNCEMENT

Bank Audi S.A.L.

20 February 2019

Bank Audi S.A.L. - Notice of Change of Depositary Bank

Bank Audi S.A.L. (the "Company") announces that a new deposit agreement (amended and restated Regulation S and Rule 144A Deposit Agreement relating to a Deposit Agreement originally dated 23 October 1997, as amended and restated on 10 May 2010) (the "Agreement") for the issuance of global depositary receipts (the "GDR Programme") with The Bank of New York Mellon shall become effective from 25 February 2019 (with certain amendments to the existing Deposit Agreement taking effect on the date which is three months from 25 February 2019).

The Bank of New York Mellon replaces Deutsche Bank Trust Company Americas as Depositary under the Agreement effective from 25 February 2019. The custodian (the "Custodian") under the GDR Programme, Bank Audi S.A.L. shall also be replaced by Midclear S.A.L. with effect from 25 February 2019.

Information regarding the new depositary:

The Bank of New York Mellon is a state-chartered New York banking corporation and a member of the U.S. Federal Reserve System, subject to regulation and supervision principally by the U.S. Federal Reserve Board and the New York State Banking Department. The Bank of New York Mellon was constituted in 1784 in the State of New York. It is a wholly owned subsidiary of The Bank of New York Mellon Corporation, a New York bank holding company.

Established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company Inc., The Bank of New York Mellon Corporation is a leading asset management and securities servicing company.

The Bank of New York Mellon Corporation's registered address is 225 Liberty Street, New York, New York 10286 and its principal administrative offices are located at 101 Barclay Street, 22 floor, New York, New York 10286.

GDR Holders do not need to take any action in connection with this notice.

Certified or conformed copies of the Agreement shall be filed with The Bank of New York Mellon and the Custodian and shall be available to Holders for inspection during normal business hours on any business day at the specified offices of The Bank of New York Mellon and any Agent and at the Main Office of the Custodian.

For more information regarding The Bank of New York Mellon, please visit www.bnymellon.com.

Enquiries:

Bank Audi s.a.l.

Bab Idriss, Omar Daouk Street

Bank Audi Plaza, P.O. Box 11-2560

Beirut - Lebanon

Attn: The Group Corporate Secretary

[email protected]