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Ahli United Bank K.S.C.P. Announces Tender Offer for Ahli United Sukuk Limited’S U.S.$200,000,000 Tier 1 Capital Certificates (ISIN: XS1508651665)

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Ahli United Bank K.S.C.P. Announces Tender Offer for Ahli United Sukuk Limited’S U.S.$200,000,000 Tier 1 Capital Certificates (ISIN: XS1508651665) NOT FOR RELEASE, PUBLICATION, DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE “UNITED STATES”) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Ahli United Bank K.S.C.P. announces Tender Offer for Ahli United Sukuk Limited’s U.S.$200,000,000 Tier 1 Capital Certificates (ISIN: XS1508651665). General 7 June 2021 – Ahli United Bank K.S.C.P. (the “Offeror”) today announces an offer to holders of the outstanding U.S.$200,000,000 Tier 1 Capital Certificates (ISIN: XS1508651665) (the “Certificates”) issued by Ahli United Sukuk Limited (the “Issuer”) to tender for purchase for cash by the Offeror any and all of the Certificates (the “Tender Offer”). The Tender Offer is being made on the terms and subject to the conditions (including, but not limited to, the satisfaction or waiver of the New Financing Condition (as defined below)) contained in a tender offer memorandum dated 7 June 2021 (the “Tender Offer Memorandum”) prepared by the Offeror, and is subject to the offer and distribution restrictions set out below and as more fully described in the Tender Offer Memorandum. Copies of the Tender Offer Memorandum are (subject to distribution restrictions) available from the Tender and Information Agent as set out below and, subject to eligibility confirmation and registration, from the Tender and Information Agent’s offer website (“Offer Website”) at: https://debtxportal.issuerservices.citigroup.com. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum. Overview of the Tender Offer Tender Price (per U.S.$1,000 face Face Amount Amount Subject to amount of Series Outstanding Offer Certificates)1 Tier 1 Capital U.S.$200,000,000 Any and all U.S.$1,006.00 Certificates (ISIN: (the “Tender Price”) XS1508651665) Issuance of New Certificates and New Financing Condition The Offeror has also announced today the intention for Ahli United Perpetual Sukuk Ltd. to issue new U.S.$ Tier 1 Capital Certificates in an amount to be determined by the Offeror (the “New Certificates”). Whether the Offeror will accept for purchase any Certificates validly tendered in the Tender Offer and complete the Tender Offer is subject, without limitation, to the successful completion (in the sole determination of the Offeror) of the issue of the New Certificates (the “New Financing Condition”) (or waiver of the New Financing 1 In addition to the Tender Price, the Offeror will also pay holders of the Certificates (whose Certificates are accepted for purchase by the Offeror) on the Settlement Date an Accrued Periodic Distribution Amount. 1 Condition). Pricing of the issue of the New Certificates is expected to occur prior to the Expiration Deadline for the Tender Offer. Any investment decision to purchase any New Certificates should be made solely on the basis of the information contained in the Prospectus, and no reliance is to be placed on any representations other than those contained in the Prospectus. Subject to compliance with all applicable securities laws and regulations, the Preliminary Prospectus is available from the Joint Lead Managers, on request. Nothing in this announcement or the Tender Offer Memorandum constitutes an offer to sell or the solicitation of an offer to buy the New Certificates in the United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The New Certificates have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act). Compliance information for the New Certificates: UK MiFIR professionals/ECPs-only/No PRIIPs KID – eligible counterparties and professional clients only (all distribution channels). No sales to EEA retail investors or UK retail investors; no key information document has been or will be prepared. See the Prospectus for further information. No action has been or will be taken in any jurisdiction in relation to the New Certificates to permit a public offering of securities. The offer and sale of the New Certificates will be subject to the selling restrictions specified in the Prospectus. Rationale for the Tender Offer The Offeror is undertaking the Tender Offer to manage the refinancing of the Offeror’s additional tier 1 capital in conjunction with the issue of the New Certificates. It is intended that Certificates purchased by the Offeror pursuant to the Tender Offer will be cancelled by the Offeror and will not be reissued or resold. The Offeror intends thereby to optimise the profile of its financings and its distribution to depositors. Details of the Tender Offer Tender Price Each Certificateholder who submits a valid Tender Instruction for the Certificates which is received by the Tender and Information Agent at or prior to the Expiration Deadline and whose Certificates are accepted for purchase in the Tender Offer will receive on the Settlement Date a tender price of U.S.$1,006.00 per U.S.$1,000 in face amount of such Certificates. Accrued Periodic Distribution Amounts On the Settlement Date, the Offeror will also pay an amount in cash (rounded to the nearest U.S.$0.01 with half of U.S.$0.01 rounded upwards) equal to the Periodic Distribution Amounts accrued and unpaid on the Certificates accepted by it for purchase in the Tender Offer from (and including) the immediately preceding Periodic Distribution Date to (but excluding) the Settlement Date. Priority Allocation in the New Certificates When considering allocations of New Certificates, the Offeror, among other factors, intends to look favourably upon those Certificateholders who have, prior to the allocation of the New Certificates, validly tendered or 2 indicated their firm intention to the Offeror or the Joint Dealer Managers to tender Certificates for purchase in the Tender Offer. Accordingly, if a Certificateholder submits a bid for New Certificates to one of the Joint Lead Managers (who are also acting as a Joint Dealer Manager) in accordance with the standard new issue procedures of such Joint Lead Manager, the Offeror may, in its sole and absolute discretion, accord such Certificateholder’s bid priority in the allocation of the New Certificates (“Preferential Allocation”). However, neither the Offeror, the New Issuer nor the Joint Lead Managers is/are obligated to allocate New Certificates or any particular quantity of New Certificates to a Certificateholder that has validly tendered or indicated its firm intention to tender Certificates in the Tender Offer. In order for Certificateholders to be considered for a Preferential Allocation, eligible Certificateholders must contact any of the Joint Dealer Managers using the contact details as set out below. As the New Certificates are expected to price before the expiration of the Tender Offer, Certificateholders who wish to obtain a Preferential Allocation should submit a valid Tender Instruction or indicate their firm intention to tender to the Offeror or the Joint Dealer Managers as soon as possible and submit a bid for the New Certificates, which should be in the form of a separate application to the Joint Lead Managers in accordance with the standard new issue procedures of such Joint Lead Manager. Tender Instructions In order to participate in, and be eligible to receive the Tender Price and the Accrued Periodic Distribution Amount pursuant to the Tender Offer, Certificateholders must validly tender their Certificates for purchase by delivering, or arranging to have delivered on their behalf, a valid Tender Instruction that is received by the Tender and Information Agent by the Expiration Deadline, unless the Tender Offer is extended, re-opened, amended and/or terminated as provided in the Tender Offer Memorandum. Certificateholders are advised to check with any bank, securities broker or other intermediary through which they hold Certificates when such intermediary would need to receive instructions from a Certificateholder in order for that Certificateholder to be able to participate in, or (in the limited circumstances in which revocation is permitted) revoke their instruction to participate in, the Tender Offer by the deadlines specified in the Tender Offer Memorandum. The deadlines set by any such intermediary and each Clearing System for the submission and revocation of Tender Instructions will be earlier than the relevant deadlines specified in the Tender Offer Memorandum. Tender Instructions will be irrevocable except in the limited circumstances described in the Tender Offer Memorandum. Certificates in respect of which a valid Tender Instruction is submitted will not be capable of being transferred until the earlier of (i) the date on which, in the limited circumstances in which revocation of a Tender Instruction is permitted, such Tender Instruction is revoked (including their automatic revocation on the termination of the Tender Offer) and (ii) the time of settlement on the Settlement Date. Settlement If the Tender Offer is not extended or re-opened or terminated by the Offeror, the Offeror expects to announce its decision of whether to accept valid tenders of Certificates for purchase in the Tender Offer, and the aggregate face amount of the Certificates so accepted, on 15 June 2021. The Settlement Date for the Tender Offer is expected to be on or around 17 June 2021. All purchases pursuant to the Tender Offer will settle through the normal procedures of Euroclear and Clearstream, Luxembourg.
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