UBL enters into a Written Agreement with FRB NY

Secretary's Department

SD/PSX/Material-Info/2018

13 July 2018

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building,

Stock Exchange Road,

Karachi.

Dear Sir,

Subject: Material Information -UBL enters into a Written Agreement with the Federal Reserve Bank of New York

United Bank Limited (UBL) and its New York branch have entered into a Written Agreement (WA 2018) with the Federal Reserve Bank of New York (FRBNY), effective July 2, 2018 upon termination of the earlier Written Agreement entered into on 28 October 2013(WA 2013), which was primarily related to the New York branch's international remittance services.

The WA 2018 requires UBL to take steps to strengthen its Bank Secrecy Act and Anti Money Laundering Compliance, Customer Due Diligence and Suspicious Activity Monitoring and Reporting Programmes. Although it imposes no civil penalty on UBL, the disclosure regarding signing of WA 2018 is being made as an update to the Written Agreement earlier signed on 28 October 2013 (WA 2013).

The WA 2018 is available in full at Federal Reserve of New York website:

www.federalreserve.gov

UBL is undertaking all steps to further strengthen its Compliance Framework to fully comply with the WA 2018. As stated in the WA 2018, it is the common goal of the FRBNY, UBL, and the New York branch that the New York branch operates in compliance with all applicable federal and state laws, rules, and regulations.

Yours faithfully,

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Copy to:

The Director

Surveillance, Supervision & Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building,

63-Jinnah Avenue, Blue Area

Islamabad.

ANNEXURE "A"

DISCLOSURE FORM IN TERMS OF SECTIONS 15D (1) OF THE

SECURITIES AND EXCHANGE ORDINANCE, 1969 AND

SECTION 96 AND 131 OF THE SECURITIES ACT, 2015

Please mark the appropriate box below.

[P] Disclosure of price sensitive information by listed company.

Public disclosure of price sensitive information, which directly concerns the listed securities.

The disclosure regarding Written Agreement is appended below:

United Bank Limited (UBL) and its New York branch have entered into a Written Agreement (WA 2018) with the Federal Reserve Bank of New York (FRBNY), effective July 2, 2018 upon termination of the earlier Written Agreement entered into on 28 October 2013(WA 2013), which was primarily related to the New York branch's international remittance services.

The WA 2018 requires UBL to take steps to strengthen its Bank Secrecy Act and Anti Money Laundering Compliance, Customer Due Diligence and Suspicious Activity Monitoring and Reporting Programmes. Although it imposes no civil penalty on UBL, the disclosure regarding signing of WA 2018 is being made as an update to the Written Agreement earlier signed on 28 October 2013 (WA 2013).

The WA 2018 is available in full at Federal Reserve of New York website:

www.federalreserve.gov

UBL is undertaking all steps to further strengthen its Compliance Framework to fully comply with the WA 2018. As stated in the WA 2018, it is the common goal of the FRBNY, UBL, and the New York branch that the New York branch operates in compliance with all applicable federal and state laws, rules, and regulations.

Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Dated: 13 July 2018