VBL : Information to the Market

VBL Plc (C56012)

("the Company")

COMPANY ANNOUNCEMENT

Information to the Market

Date: 23 June 2023

Ref. VBL08/2023

This is a company announcement made by the Company in compliance with the Capital Markets Rules.

Reference is made to an announcement dated 20 March 2023 (Ref VBL02/2023) in which the Company informed the market that it was considering a number of possible strategic options, including the possibility of raising further capital from strategic and/or financial investors.

The Company hereby informs the market that it has identified a number of potential private investors which have shown an interest in the subscription of new shares with a view of raising new equity capital on a private placement basis. In furtherance of this, the board of directors today resolved as follows:

In furtherance of the authority of the Board of Directors to issue and allot shares in accordance with article 5.1 of the Company's Articles of Association, it is hereby resolved that the Company, by means of private placement and subject to concluding with potential investors, proceed with the issuance and allocation of new ordinary shares, in various subscription tranches, up to a total of €1 million in subscription value, to be completed by 31st December 2023 at a subscription price which shall not be lower than the weighted average trading price of the VBL ordinary shares at the Malta Stock Exchange (the "MSE") of the last 360 days (bottom of the range) and shall not be higher than 150% of the weighted average trading price of the VBL ordinary shares at the MSE of the last 360 (top of the range).

The Company shall keep the market updated with any further developments.

___________________

Dr Mikiel Calleja

Company Secretary