By letter dated 30th September 2016, Mr Pierre KRIER (Former Audit Partner, PwC) has been nominated, by common accord with the Grand Duchy of Luxembourg, the Kingdom of Belgium and the Kingdom of the Netherlands for appointment as a member of the Audit Committee of the European Investment Bank, to succeed Mr Jean-Nicholas SCHAUS, who tendered his resignation with immediate effect on 8 May 2015.

By letter dated 7th October 2016, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Pierre KRIER was taken on 19th October 2016, the date on which the requisite majority of Governors' votes was reached.

The new member of the Audit Committee is appointed for the remainder of the 6-year term of office of Mr SCHAUS, expiring in 2018, at the end of the day either of the Annual Meeting or of the approval of the financial statements for the previous financial year, whichever is the later.