Bank of South Pacific Limited Final Dividend announcement for 2016 and the First Quarter Actual Results for 2017

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1 Registered Office: Level 12, BSP Suva Central Building, Cnr of Renwick Rd & Pratt Street, Suva, Fiji Islands. Postal Address: Private Mail Bag Suva Fiji Islands, Telephone (+679) , Fax (+679) Market Announcement to South Pacific Stock Exchange Bank of South Pacific Limited Final Dividend announcement for 2016 and the First Quarter Actual Results for 2017 About BSP Convertible Notes Limited (BSP CN Fiji): BSP Convertible Notes Limited (BSP CN Fiji) is a wholly owned subsidiary of Bank of South Pacific Limited (BSP). BSP is a Papua New Guinea based full service Bank with representation in many major Pacific economies. BSP is listed on the Port Moresby Stock Exchange (POMSoX) and has a B+ credit rating from Standard & Poors. BSP Convertible Notes Limited (BSP CN Fiji) is a special purpose vehicle incorporated in Fiji with limited powers under its Memorandum and Articles. It is listed in the South Pacific Stock Exchange (SPSE) in Fiji as BCN.

2 Registered Office: Level 12, BSP Suva Central Building, Cnr of Renwick Rd & Pratt Street, Suva, Fiji Islands. Postal Address: Private Mail Bag Suva Fiji Islands, Telephone (+679) , Fax (+679) Friday 26 May 2017 Bank of South Pacific Limited Final Dividend announcement for 2016 and the First Quarter Actual Results for 2017 Our Parent Company, Bank of South Pacific Limited in Port Moresby, PNG has today announced a final dividend of seventy nine toea, K0.79t (FJD ) for the year ending BSP Convertible Notes Limited dividends are tagged to its Parent Company s dividend. The Dividend Declaration dates differ from the Parent Company due to the Listing Rules of the South Pacific Stock Exchange, however the date of payment of the Dividends are on the same date as its Parent Company. The planned processing dates for the 2016 final dividend for the Fiji Class Shareholders are:- Date of Closure of Registry 15 June 2017 Date of Ex-Benefit 7 June 2017 Date of Payment of Dividends 23 June Kevin McCarthy Director About BSP Convertible Notes Limited (BSP CN Fiji): BSP Convertible Notes Limited (BSP CN Fiji) is a wholly owned subsidiary of Bank of South Pacific Limited (BSP). BSP is a Papua New Guinea based full service Bank with representation in many major Pacific economies. BSP is listed on the Port Moresby Stock Exchange (POMSoX) and has a B+ credit rating from Standard & Poors. BSP Convertible Notes Limited (BSP CN Fiji) is a special purpose vehicle incorporated in Fiji with limited powers under its Memorandum and Articles. It is listed in the South Pacific Stock Exchange (SPSE) in Fiji as BCN.

3 Announcement Port Moresby Stock Exchange Port Moresby, 26 th May 2017 Final dividend announcement for 2016 and the first Quarter Actual results for 2017 Sir Kostas Constantinou OBE, Chairman of Bank of South Pacific Limited (BSP) today announced the final dividend for the year ending Sir Kostas noted that despite subdued economic conditions in PNG and other Pacific countries in which BSP operates, the BSP Group again recorded very positive outcomes in 2016 with a net profit after tax of K643.5m (FJD 414.3m), an increase of K111.6m (FJD 71.9m) on the 2015 result. The directors therefore have determined a final dividend of 79 toea (FJD ) for This final dividend along with the 25 toea (FJD ) interim dividend paid in October 2016 brings the total dividend payment to K1.04 (FJD ) (2015 =85.5 toea (FJD )) per share, giving a yield of 10.95% on the current share price of K9.50 (FJD 6.12) (as at 10th May 2017). The payout ratio for 2016 of 75.53%, which is up slightly on 2015 s ratio of 75.15% and up on 2014 s ratio at 70.08%. Capital adequacy ratios will remain above BPNG guidelines after payment of the final dividend. The planned processing dates for the 2016 final dividend are: Ex-date: Friday 02 nd of June 2017 Record date: Friday 09 th of June 2017 Payment date: Friday 23 rd of June 2017 Sir Kostas also announced the Group s results for the first quarter of The quarter profit after tax is at K170.2m (FJD m), which is K27m (FJD 17.38m) above the same quarter in Sir Kostas Constantinou, OBE Group Chairman Bank of South Pacific Ltd

4 Press Statement Port Moresby Stock Exchange Port Moresby, 26 th May 2017 Final dividend announcement for 2016 and the first Quarter Actual results for 2017 Sir Kostas Constantinou OBE, Chairman of Bank of South Pacific Limited (BSP) today announced the final dividend for the year ending Sir Kostas noted that despite subdued economic conditions in PNG and other Pacific countries in which BSP operates, the BSP Group again recorded very positive outcomes in 2016 with a net profit after tax of K643.5m (FJD 414.3m), an increase of K111.6m (FJD 71.9m) on the 2015 result. The directors therefore have determined a final dividend of 79 toea (FJD ) for This final dividend along with the 25 toea (FJD ) interim dividend paid in October 2016 brings the total dividend payment to K1.04 (FJD ) (2015 =85.5 toea (FJD )) per share, giving a yield of 10.95% on the current share price of K9.50 (FJD 6.12) (as at 10th of May 2017). The payout ratio for 2016 of 75.53%, which is up slightly on 2015 s ratio of 75.15% and up on 2014 s ratio at 70.08%. Capital adequacy ratios will remain above BPNG guidelines after payment of the final dividend. The planned processing dates for the 2016 final dividend are: Ex-date: Friday 02nd of June 2017 Record date: Friday 09th of June 2017 Payment date: Friday 23rd of June 2017 In announcing the dividend Sir Kostas stated that the full year dividend represents a distribution to shareholders of K M (FJD M). (2015 K M (FJD M)).Over the past 5 years BSP has returned to shareholders over K1.62b (FJD 1.04b) in dividends. Sir Kostas also announced the Group s unaudited results for the first quarter of The quarter profit after tax is at K170.2m (FJD m), which is K27m (FJD 17.38m) above the same quarter in BSP s Balance Sheet reflected a generally stable market share in PNG and an expectation of continued subdued business conditions in the short term. Capital adequacy has improved to 25.1% at the end of March Sir Kostas Constantinou, OBE Group Chairman Bank of South Pacific Ltd

5 Appendix F: Dividend Declaration BSP Convertible Notes Limited Declaration of Dividend BSP Convertible Notes Limited is pleased to announce a Final dividend for the Year Ending 31 December Date of Closure of Registry 15 June 2017 Date of Ex-Benefit 7 June 2017 Date of Payment of Dividends 23 June 2017 (Intentions to close or fix the Share Register by a listed company should be done 15 business days after notifying the SPSE) Current (2016) Previous (2015) Dividend per share $ $ Amount of dividends ($) $1,558, $1,625, Turnover - - Gross Profit $2,412,228 $2,168,564 Income from other sources Net Interest Income Support fee $532,394 $1,913,000 $494,200 $1,701,000 Provision for taxation $48,525 $43,150 Net profit/(loss) after tax $2,363,703 $2,125,414 Chairman/ Chief Executive Officer/ Company Secretary s Comments. Bank of South Pacific Limited declared a final dividend of 79 toea (FJD ) at its Board meeting held on Friday 26 th May This is following, very sound results achieved by the BSP Group in 2016 with a net profit after tax of K643.5m (FJD 414.3m), an increase of K111.6m (FJD 71.9m) on the 2015 result. This final dividend along with the 25 toea (FJD ) interim dividend paid in October 2016 brings the total dividend payment to K1.04 (FJD ) per share. Pursuant to the Articles of Association of BSP Convertible Notes Limited, the applicable exchange rate is the average of the buy and sell rates published by BSP on its website on the date two Business Days before the dividend announcement date on SPSE as appointed by the Chairman of BSP Director Company Secretary