On 5^th October 2018, the Luxembourg Commercial Court (Tribunal d’arrondissement de Luxembourg siégeant en matière commerciale) held a hearing regarding the request of ABLV Bank Luxembourg S.A. (further — the Bank) to extend the protection of the suspension-of-payments regime originally granted by the Luxembourg Commercial Court on 9 March 2018 and which ended on 9 September 2018.

On 3^rd September 2018, the Luxembourg Commercial Court (Tribunal de Commerce de Luxembourg) held a hearing for extension of the suspension-of-payments status assigned to the Luxembourg bank in February. Having considered the arguments and current situation, the court agreed to extend the protection by one month in order to leave more time to progress in the negotiations with investors.

The Commission de Surveillance du Secteur Financier (CSSF) has brought ABLV Bank Luxembourg, S. A., the subsidiary of the Latvian bank ABLV Bank, A.S. under protection by filing an application for suspension of its debit operations with the Luxembourg District Court.

ABLV Bank, AS has reviewed the Proposal regarding ABLV Bank by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. After preliminary examination of the document, we believe that this Proposal uses obviously unfounded and misleading information. The report leaves out significant information on the bank’s efforts in the field of money laundering and terrorism financing prevention in the last years.