Acquisition of Semper Constantia Privatbank AG

22 December 2017 Conference call of the LLB Group Acquisition of Semper Constantia Privatbank AG

Table of contents StepUp2020 strategy Acquisition of Semper Constantia Summary Georg Wohlwend Chairman of the Board of Directors Roland Matt Group CEO Georg Wohlwend Chairman of the Board of Directors Questions Acquisition of Semper Constantia Privatbank AG, 22 December 2017 2

StepUp2020 strategy Acquisition of Semper Constantia Privatbank AG, 22 December 2017 3

An overview of the LLB Group Business volume Client assets Client loans Balance sheet total 59.9 billion 48.2 billion 11.7 billion 20.5 billion Key figures (in CHF, as at 30.06.2017) Group profit 60.0 million Equity capital 1.82 billion Tier 1 ratio 21.4 % Workforce 853 FTEs Liechtenstein Switzerland Austria Middle East 3 banks LLB AG, Vaduz Bank Linth LLB AG, Uznach LLB (Österreich) AG, Vienna The first bank in Liechtenstein, founded in 1861 LLB head office 2 LLB branch offices Bank Linth head office 18 BLL branch offices 2 LLB representative offices Registered office in Vienna 2 LLB representative offices Locations and target markets Onshore Offshore Full-service bank with 3 main pillars 3 market divisions Retail & Corporate Banking Private Banking Institutional Clients Main shareholder the Principality of Liechtenstein (S&P rating AAA) with 57.5 % Liechtenstein Switzerland Austria Germany and the rest of Western Europe Central and Eastern Europe Middle East Listed on the SIX Swiss Exchange in Zurich since 1993 Acquisition of Semper Constantia Privatbank AG, 22 December 2017 4

StepUp2020: overview of the core elements Growth Accelerated organic growth Targeted acquisitions in home markets Critical mass in all business areas Profitability Increasing the margins Efficient market cultivation Strict cost management Innovation Pioneering digital solutions Leading branch office concept Innovative services and products Excellence Anchoring of lean management in the organisation High standards of compliance Excellent level of competence Acquisition of Semper Constantia Privatbank AG, 22 December 2017 5

Our financial targets focus on growth, profitability and stability Business volume > CHF 70 billion Cost/income ratio < 65 % Cumulative results 2016 2020 > CHF 500 million Tier 1 ratio > 14 % Acquisition of Semper Constantia Privatbank AG, 22 December 2017 6

Acquisition of Semper Constantia Acquisition of Semper Constantia Privatbank AG, 22 December 2017 7

Brief profile of Semper Constantia founded in 1986 Business areas Client structure Private banking Funds and custodian bank business Real estate Onshore Austria 90% 10% Offshore (esp. DE, EU) Shareholders Employees in full-time positions as at 30.06.2017 Dr. H. P. Haselsteiner 64% 21% 15% Management Dr. E. F. Grossnigg 173 Acquisition of Semper Constantia Privatbank AG, 22 December 2017 8

Key figures of Semper Constantia as at 31.12.2016 Profits EUR 7.2 million ROE 14.4 % Client assets EUR 15 billion net as at 30.06.2017 Balance sheet total EUR 801 million Net acquisition EUR 2.0 billion Capital ratio 23.1 % Acquisition of Semper Constantia Privatbank AG, 22 December 2017 9

Business performance of Semper Constantia 2014 2016 Client assets [EUR billion] Operating income [EUR million] 10.7 11.2 13.9 31.0 35.2 41.1 2014 2015 2016 2014 2015 2016 Cost/income ratio [%] Annual surplus [EUR million] 67% 75% 74% 7.4 7.2 4.4 2014 2015 2016 2014 2015 2016 Acquisition of Semper Constantia Privatbank AG, 22 December 2017 10

Acquisition in line with strategy Strengthening private banking in Austria Expanding the institutional business in Austria Third home market with critical mass in all business areas Positive outcome contribution from 2019 onwards Acquisition of Semper Constantia Privatbank AG, 22 December 2017 11

Key figures consolidated pro forma 30.06.2017 Business volume in CHF billion Workforce in FTE LLB Group Semper Constantia Consolidated pro forma 60 17 77 853 173 1'026 2016 Operating income in CHF million Operating expenses in CHF million 372 47 419 258 36 294 Estimates; LLB Group IFRS; Semper Constantia local GAAP Acquisition of Semper Constantia Privatbank AG, 22 December 2017 12

Booking centre Three efficient booking centres Business volume LLB Group Business volume consolidated pro forma LLB FL 45 LLB FL 45 Bank Linth 13 Bank Linth 13 LLB AT 3 LLB AT 20 Estimates in CHF billion as at 30.06.2017 Acquisition of Semper Constantia Privatbank AG, 22 December 2017 13

Positive impact on the 2020 financial targets Business volume > CHF 70 billion Cumulative results 2016 2020 > CHF 500 million Tier 1 ratio > 14 % Cost/income ratio < 65 % Acquisition of Semper Constantia Privatbank AG, 22 December 2017 14

Purchase price and how it is financed Purchase price approx. EUR 185 million consisting of equity and goodwill Paid partly in cash and partly in LLB AG shares. 1.85 million of its own shares Definitive purchase price will be decided on closing or after the end of the earn-out period. Acquisition of Semper Constantia Privatbank AG, 22 December 2017 15

Dr. Karl Sevelda nominated as member of the LLB Board of Directors Dr. Karl Sevelda Year of birth: 1950 Chairman of the Supervisory Board of Semper Constantia 2013 2017 Chairman of the Board of Raiffeisen Bank International 2010 2013 Deputy Chairman of the Board of Raiffeisen Bank International 1998 2010 Member of the Board of Raiffeisen Zentralbank Österreich Image source: www.trend.at Acquisition of Semper Constantia Privatbank AG, 22 December 2017 16

Next steps 2017 2018 2019 21.12. July September 2nd quarter Signing Closing Merger IT migration Strictly confidential Acquisition of Semper Constantia Privatbank AG, 22 December 2017 17

From the takeover... LLB Group Liechtensteinische Landesbank AG 3 branches 4 representative offices Erlenbach Geneva Dubai Abu Dhabi Bank Linth LLB AG 19 branches Liechtensteinische Landesbank (Österreich) AG Semper Constantia Privatbank AG incl. subsidiaries LLB Asset Management AG AG LLB Fund Services AG AG Acquisition of Semper Constantia Privatbank AG, 22 December 2017 18

to the merger LLB Group Liechtensteinische Landesbank AG 3 branches 4 representative offices Erlenbach Geneva Dubai Abu Dhabi Bank Linth LLB AG 19 branches Liechtensteinische Landesbank (Österreich) AG incl. subsidiaries LLB Asset Management AG AG LLB Fund Services AG AG Acquisition of Semper Constantia Privatbank AG, 22 December 2017 19

Summary Acquisition of Semper Constantia Privatbank AG, 22 December 2017 20

Conclusions Business volume target is achieved Critical mass in the third home market Austria Strengthening of private banking and expanding the institutional business Positive outcome contribution from 2019 onwards Further scope for growth ambitions Acquisition of Semper Constantia Privatbank AG, 22 December 2017 21

Questions Acquisition of Semper Constantia Privatbank AG, 22 December 2017 22

Contact details and financial calendar Contact Liechtensteinische Landesbank AG Dr. Cyrill Sele Head of Group Corporate Communications & General Secretary Städtle 44 9490 Vaduz Liechtenstein Financial calendar Presentation of 2017 annual results Thursday, 8 March 2018 26th Annual General Meeting of Shareholders Wednesday, 9 May 2018 Telephone +423 236 82 09 Fax +423 236 87 71 E-mail ir@llb.li Internet www.llb.li Disclaimer This information provided by Liechtensteinische Landesbank AG is intended for information purposes only. It contains forward-looking statements which do not constitute any guarantee as to future developments. It contains risks and uncertainties including, but not limited to, future global economic conditions, currency rates, legal provisions, market conditions, activities of competitors and other factors that lie outside the company's control. The LLB does not enter into any obligation to update the statements in this presentation relating to future events. Acquisition of Semper Constantia Privatbank AG, 22 December 2017 23

Thank you Acquisition of Semper Constantia Privatbank AG, 22 December 2017 24

Annex Acquisition of Semper Constantia Privatbank AG, 22 December 2017 25

The LLB, a unique investment 1 Focus on profitable growth Objective 2020: business volume > CHF 70 billion 2 Diversified income structure 3 strong market divisions 3 Upside when interest rates are rising CHF 8 million with +25 bp 4 Attractive dividend policy Dividend yield 4.2 % (31.12.2016) 5 Attractive valuation Price-to-book ratio 0.8 (30.06.2017) 6 7 Very robust capital resources Stable ownership structure Tier 1 ratio 21.4 % (30.06.2017) Min. 51 % Principality of Liechtenstein Acquisition of Semper Constantia Privatbank AG, 22 December 2017 26