MATERIAL INFORMATION – VOLUNTARY WINDING UP

Secretary's Department

SD/PSX/Material/UBLSAG(Exit)/21

12 June 2021

The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building,
Stock Exchange Road,
Karachi.

Dear Sir,

MATERIAL INFORMATION - VOLUNTARY WINDING UP OF UBL (SWITZERLAND) AG - A WHOLLY OWNED SUBSIDIARY OF UNITED BANK LIMITED ("UBL")

As part of its global realignment strategy, UBL intends to voluntarily wind up its wholly owned subsidiary, UBL (Switzerland) AG.

This decision is in line with the UBL's strategy to exit from non-core markets.

The winding up is subject to relevant legal and regulatory approvals including approval of the shareholders of UBL.

UBL and UBL (Switzerland) AG will continue to work closely with all stakeholders throughout the winding up process to ensure that UBL (Switzerland) AG is wound up in an orderly manner, fulfilling all its obligations and complying with all applicable laws, rules and regulations.

UBL's decision to wind up UBL (Switzerland) AG will not have any material impact on the overall operating and financial position of the UBL.

Yours faithfully,

          Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel

Copy to:

1.   The Director,

Surveillance, Supervision & Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building, 63-Jinnah Avenue, Blue Area Islamabad

2.   London Stock Exchange

"ANNEXURE - A"

DISCLOSURE FORM

IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015

 [a] Disclosure of inside information by listed company in terms of section 15D

Public disclosure of price sensitive / inside information, which directly concerns the listed securities.

As part of its global realignment strategy, UBL intends to voluntarily wind up its wholly owned subsidiary, UBL (Switzerland) AG.

This decision is in line with the UBL's strategy to exit from non-core markets.

The winding up is subject to relevant legal and regulatory approvals including approval of the shareholders of UBL.

UBL and UBL (Switzerland) AG will continue to work closely with all stakeholders throughout the winding up process to ensure that UBL (Switzerland) AG is wound up in an orderly manner, fulfilling all its obligations and complying with all applicable laws, rules and regulations.

UBL's decision to wind up UBL (Switzerland) AG will not have any material impact on the overall operating and financial position of the UBL.

           Sd/-

Aqeel Ahmed Nasir

Company Secretary &

Chief Legal Counsel