MALVERN BANCORP, INC. (a Pennsylvania-chartered Stock Corporation) Up to 3,162,500 Shares (Subject to Increase Up to 3,636,875 Shares) COMMON STOCK ($0.01 Par Value) Subscription Price $10.00 Per Share AGENCY AGREEMENTAgency Agreement • August 2nd, 2012 • Malvern Bancorp, Inc. • Savings institution, federally chartered • Pennsylvania
The undersigned understands that Stifel, Nicolaus & Company, Incorporated (“Stifel Nicolaus” or the “Agent”) proposes to enter into an Agency Agreement (the “Agency Agreement”) with Malvern Bancorp, Inc., a newly-formed Pennsylvania corporation (the “Company”), Malvern Federal Bancorp, Inc., a federally-chartered stock corporation (the existing corporation referred to herein as the “Mid-Tier”), Malvern Federal Mutual Holding Company, a federally chartered mutual holding company (the “MHC”) and Malvern Federal Savings Bank, a federally-chartered savings bank (the “Bank” and, together with the Company, the Mid-Tier and the MHC, the “Malvern Parties”), providing for the public offering (the “Public Offering”) by the Agent, of up to [super max] shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”).
