LLB acquires Zürcher Kantonalbank Österreich AG

   Liechtensteinische Landesbank / LLB / Key word(s): Mergers &
   Acquisitions
   LLB acquires Zürcher Kantonalbank Österreich AG
   02-Jul-2024 / 07:00 CET/CEST
   Release of an ad hoc announcement pursuant to Art. 53 LR
   The issuer is solely responsible for the content of this
   announcement.
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   Vaduz, 2 July 2024. Liechtensteinische Landesbank AG (LLB) has
   signed a purchase agreement to acquire 100 per cent of the shares
   of Zürcher Kantonalbank Österreich AG, with locations in Salzburg
   and Vienna. This transaction aligns with the LLB Group's strategy
   and will see it increase its business volume by around CHF 3
   billion. LLB Austria is thus further expanding its position as
   one of the leading asset management banks in the country.

   The LLB Group has been operating its Vienna branch via its
   subsidiary Liechtensteinische Landesbank (Österreich) AG since
   2009 and has significantly expanded its asset management business
   in Austria over the past 15 years through strong organic growth
   and acquisitions.
   Gabriel Brenna, CEO of the LLB Group, explains: "After the
   acquisition of Semper Constantia Privatbank in 2018 and the
   takeover of Credit Suisse's private banking clients in 2021, we
   are taking a further step in terms of acquisition-based growth in
   Austria. This, in turn, underscores the strategic importance of
   the Austrian market for the LLB Group."

   Strengthening the home market of Austria
   Zürcher Kantonalbank Österreich AG employs around 120 members of
   staff. With its strong positioning in private banking and its
   asset management expertise, it represents an ideal addition to
   the LLB Group's activities in Austria. Its clientele are
   primarily wealthy Austrian and German private clients. ZKB
   Austria's portfolio of products and services as well as its
   advisory philosophy are aligned with those of LLB Austria and
   complement its existing range of services. ZKB Austria will
   contribute to the targeted expansion and further development of
   the Salzburg location, resulting in LLB Austria having a strong
   presence at the two most important wealth management locations in
   the country.

   Acquisition to take place in two stages
   The transaction - subject to approvals from the supervisory
   authorities and under anti-trust law - will take place as
   follows: As a first step, LLB AG will acquire Zürcher
   Kantonalbank Österreich AG. The takeover comprises client assets
   totalling around EUR 3.1 billion (roughly CHF 3.0 billion). The
   second step involves merging ZKB Austria with Liechtensteinische
   Landesbank (Österreich) AG.

   Clients benefit from excellent services and high credit ratings
   In view of the similarities in their ownership structures,
   business models and markets, corporate culture and range of
   services, the LLB Group is confident that it can ensure
   continuity in the high-quality support provided to Zürcher
   Kantonalbank Österreich AG's current clientele, while at the same
   time offering its staff interesting and valuable future prospects
   as a values-based company.

   Natalie Flatz, Chairwoman of the Supervisory Board of LLB
   Austria, states: "For the LLB Group, this is the next logical
   step in further expanding our position as one of the leading
   asset management banks in Austria. With our award-winning asset
   management services and our expertise in real estate and family
   services, as well as being the fund powerhouse of the LLB Group,
   our clients receive a unique range of investment expertise and
   tailored advice. We are delighted to be welcoming our new clients
   and employees and continuing to grow together."

   Florence Schnydrig Moser, Chairwoman of the Supervisory Board of
   Zürcher Kantonalbank Österreich AG: "In LLB, we have found a
   strong partner for a long-term successful future. As the
   longest-established bank in Liechtenstein, and with a Moody's
   rating of Aa2, LLB represents security and stability. I am
   convinced that this merger will have a positive impact on both
   employees and clients alike."

   The current transaction is subject to approval by the Federal
   Competition Authority and the supervisory authorities. Both
   parties have agreed not to disclose the purchase price, which
   will be paid in cash. The LLB Group's Tier 1 ratio will decrease
   by around 1 per cent, which continues to put it significantly
   above the target of more than 16 per cent.

Important dates

   * Monday, 26 August 2024, Publication of the semi-annual results
   for 2024

* Wednesday, 16 April 2025, 33rd General Meeting of Shareholders

Brief portrait

   Liechtensteinische Landesbank AG (LLB) is the longest-established
   financial institution in the Principality of Liechtenstein. The
   majority shareholder is the Principality of Liechtenstein. The
   shares are listed on the SIX Swiss Exchange (symbol: LLBN). The
   LLB Group offers its clients comprehensive wealth management
   services: as a full-service bank as well as in private banking,
   asset management and fund services. With 1,213 employees (in
   full-time positions), the Group is represented in Liechtenstein,
   Switzerland, Austria, Germany and the United Arab Emirates. As at
   31 December 2023, the business volume of the LLB Group was CHF
   102.2 billion.

   Liechtensteinische Landesbank (Österreich) AG is one of the
   leading asset management banks in Austria with over EUR 32
   billion in assets under management (as of 31 December 2023) and
   more than 230 employees. As a wholly-owned subsidiary of
   Liechtensteinische Landesbank AG (LLB), Vaduz, LLB (Österreich)
   AG also benefits from the stability and excellent credit rating
   of its owner and can draw on the more than 160 years of
   experience of the longest-established financial institution in
   the Principality of Liechtenstein. Austria has been one of the
   LLB Group's three declared home markets since 2009, in addition
   to Liechtenstein and Switzerland.

   Contact
   Liechtensteinische Landesbank AG
   Cyrill Sele, Head Group Corporate Communications & Sustainability
   Telephone +423 236 82 09, E-Mail ir@llb.li | llb.li

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   End of Inside Information
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   Language: English
   Company: Liechtensteinische Landesbank / LLB
   Staedtle 44
   9490 Vaduz
   Switzerland
   Phone: +423 236 88 11
   Fax: +423 236 88 22
   E-mail: llb@llb.li
   Internet: www.llb.li
   ISIN: LI0355147575
   Valor: 35514757
   Listed: Regulated Unofficial Market in Frankfurt, Stuttgart; SIX
   Swiss Exchange
   EQS News ID: 1937269

   End of Announcement EQS News Service
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1937269 02-Jul-2024 CET/CEST