Update in relation to the Group’s MREL requirements

In its interim results for the six months ended 30 June 2025 published on 20 August 2025, OSB GROUP PLC (the “Group”) noted that it was seeking clarification from the Bank of England in respect of the recently announced changes to the minimum requirements for own funds and eligible liabilities (“MREL”) regime.

We are pleased to note that the Bank of England has notified the Group that its preferred resolution strategy for the Group effective from 1 January 2026, will be as a transfer firm.

From 1 January 2026, OSB Group’s MREL is equal to minimum capital requirements, defined as the sum of Pillar 1 and Pillar 2A capital requirements, as set by the PRA.

The Group will update the market on what this means for its capital and funding plans at its 2025 full year results, which will be announced on 5 March 2026.

Note

All enquiries should be directed to Investor Relations or Brunswick Group, contact details below.

OneSavings Bank (OSB)

OSB originates mortgages organically via specialist brokers and independent financial advisers through its specialist brands including Kent Reliance for Intermediaries and InterBay Commercial. It is differentiated through its use of highly skilled, bespoke underwriting and efficient operating model.

OSB is predominantly funded by retail savings originated through the long-established Kent Reliance name, which includes online and postal channels as well as a network of branches in the South East of England. Diversification of funding is currently provided by securitisation programmes and the Bank of England’s Term Funding Scheme with additional incentives for SMEs.

Charter Court Financial Services Group (CCFS)

CCFS is predominantly funded by retail savings originated through its Charter Savings Bank brand. Diversification of funding is currently provided by securitisation programmes and the Bank of England’s Term Funding Scheme with additional incentives for SMEs.