Result of EGM

Bank Audi

December 4, 2014

Resolution adopted by the Extraordinary General Meeting of Shareholders of December 4, 2014:

Sole resolution: confirmation of the adequate completion of the procedures for the increase of the Bank's capital through the increase of the nominal value of each share to become L.L. 1,650 and discharge of the Chairman and members of the Board of Directors in respect of actions relating to the Capital Increase.

The Extraordinary General Meeting of shareholders of Bank Audi resolves, pursuant to its resolution dated September 23, 2014 to increase the Bank's capital from LBP 525,769,215,996 to LBP 667,836,186,600, i.e. by an amount of LBP 142,066,970,604 through the increase of the nominal value of each share to become LBP 1,650 instead of LBP 1,299, to:

- Confirm and approve the adequate completion of all formalities and actions undertaken to execute the above mentioned increase;

- Declare that Bank Audi's capital is now LBP 667,836,186,600, fully paid and divided into 404,749,204 nominal shares having a par value of LBP 1,650 per share;

- Declare, pursuant to the above, that the amendment of article 6 of the Bank's By-laws as per the third resolution of the Extraordinary General Meeting held on September 23, 2014 is now effective;

- Grant discharge to the Chairman and members of the Board of Directors in respect of all actions relating to the capital increase through the increase of the nominal value of each share and grant each of the Chairman of the Board - General Manager, Mr. Raymond Audi, and the member of the Board - General Manager, Mr. Samir Hanna, acting jointly or severally, and any other person empowered by any of them, the power to carry out all legal formalities and to carry out the publication, registration and execution of all related documents (with the authority to further delegate all or part of the aforementioned powers hereby granted to them).

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