On 15 July 2020 the Annual General Meeting of the Shareholders of the “Bulgarian-American Credit Bank” took place.

 The General Meeting of the Shareholders:

1. Approved the (1) Audited BACB Annual Consolidated Financial Statements for 2019 and the Annual Consolidated Management Report of BACB for 2019, together with Independent Auditors’ Report and (2) Audited BACB Annual Financial Statements for 2019 and the Annual Management Report of BACB for 2019, together with Independent Auditors’ Report.;
2. Approved changes to the BACB Supervisory Board, namely: (1) relieving Mr. Serge Lioutyi as a member of the Supervisory Board and (2) appointment of Mr. Petar Georgiev Atanasov as a member of the Supervisory Board;
   Pursuant to Decision No. 142/ 09.04.2020 of the BNB Management Board BNB granted a preliminary approval under art. 11 (2) and (3) and art. 151 of the Credit Institutions Act in connection to art. 5 (1) and art. 6 of Ordinance No. 20 of BNB Mr. Petar Georgiev Atanasov to be appointed as a member of the BACB Supervisory Board;
3. Approved changes in the BACB Audit Committee, as follows: (1) relieving Mr. Serge Lioutyi as a member of the Audit Committee and (2) appointment of Mr. Petar Georgiev Atanasov as a member of the Audit Committee;
4. Appointed “Ernst&Young Audit” OOD and “Afa” OOD as auditors for joint independent financial audit of the annual Financial Statements of Bulgarian-American Credit Bank, individual and consolidated, for the financial year 2020;
5. Adopted decisions under the rest of the prior announced agenda;

The approved changes in the BACB Supervisory Board shall be registered in the Commercial Register after BNB approval. BACB shall undertake the necessary actions for granting the respective regulatory approvals in connection to these decisions.

Further information for the decisions taken shall be included in the Minutes of the meeting which shall be disclosed within the regulatory deadline.