By letter dated 10th July 2017, Mr Vasile IUGA (Former Audit Partner, PwC) has been nominated by Romania, by common accord with the Kingdom of Denmark, the Hellenic Republic and Ireland, for appointment as a member of the Audit Committee of the European Investment Bank, to succeed Mr Jens Henrik LAURSEN, who tendered his resignation with immediate effect on 23rd May 2017.

By letter dated 21st July 2017, the Board of Governors was invited to vote on the proposed appointment.

The decision to appoint Mr Vasile IUGA was taken on 7th August 2017, the date on which the requisite majority of Governors' votes was reached.

The new member of the Audit Committee will be appointed for a non-renewable term of office of six years, expiring in 2023, 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 later.