Announcement Regarding Permanent Tsb

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 (THE "IRISH TAKEOVER RULES") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE IRISH TAKEOVER RULES. THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE.

STATEMENT FROM BAWAG GROUP AG

ANNOUNCEMENT REGARDING PERMANENT TSB GROUP HOLDINGS PLC

VIENNA, Austria - 18 March 2026 - BAWAG Group AG ("BAWAG" and, together with its subsidiaries, "BAWAG Group") notes the recent announcement made by Permanent TSB Group Holdings plc ("PTSB") today, 18 March 2026, and confirms that its wholly-owned subsidiary, BAWAG P.S.K, has submitted a non-binding proposal which may or may not lead to an offer being made to acquire the entire issued and to be issued share capital of PTSB for cash as part of the formal sales process announced by PTSB on 30 October 2025.

At this stage, no decision has been made by BAWAG as to whether it will make an offer for PTSB nor the price at which any such offer may be made. Therefore, there can be no certainty that any offer will be made, nor as to the terms on which any such offer may be made, if forthcoming.

The Irish Takeover Panel has granted certain dispensations in connection with the formal sales process (as detailed in the announcement made by PTSB on 30 October 2025). Accordingly, the 42 day deadline referred to in Rule 2.6(a) of the Irish Takeover Rules will not apply to BAWAG for so long as BAWAG is participating in the formal sales process. BAWAG currently remains a participant in that process.

A further announcement will be made as and when appropriate.

ABOUT BAWAG GROUP

BAWAG Group (AG) is a pan-European and U.S. banking group serving more than four million customers. BAWAG Group is committed to delivering simple and intuitive banking solutions, combining its digital-first approach with an advisory-focused branch network. BAWAG is dedicated to creating long-term, sustainable value for all stakeholders by driving operational excellence, fostering customer-focused innovation, and upholding the principles of responsible banking. Through the consistent and disciplined execution of its strategy, BAWAG Group is one of Europe's financially most successful and efficient banking groups today.

BAWAG Group's Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

Jutta Wimmer (Head of Communications)

Citi (Financial Adviser to BAWAG):

Michael Lavelle

Alexander Pretzner

James Carton

James Ford

Financial adviser disclaimers