Formal Sale Process: Response to media speculation

THIS IS AN ANNOUNCEMENT 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 ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY SUCH OFFER WILL BE MADE.

Permanent TSB Group Holdings PLC

Response to media speculation

Permanent TSB Group Holdings PLC ("PTSB" or the "Company") notes the recent media speculation and confirms that BAWAG Group AG ("BAWAG") is one of a number of parties participating in the Formal Sale Process which was announced by PTSB on 30 October 2025. The Formal Sale Process remains ongoing, and PTSB continues to engage with all parties participating in the Formal Sale Process.

Shareholders are advised that this announcement does not represent a firm intention by BAWAG or any other party to make an offer under Rule 2.7 of the Irish Takeover Rules and there can be no certainty that any offers will be made, that any sale or other transaction will be concluded, nor as to the terms on which any offer or other transaction may be made.

The objective of the Formal Sale Process remains the same; to identify a new owner that will enable PTSB to continue building on its recent strategic and financial progress, and to support the Company in the next phase of its growth and strategic development.

PTSB is an important part of the retail banking sector and wider Irish economy, and its continued sustainable growth is critical to ensuring competition in the market and providing choice to consumers. There is no impact to customers as a result of this announcement, and PTSB's operations, products and services remain unaffected by the Formal Sale Process. PTSB continues to support and service customers as normal.

A further announcement will be made at the appropriate time.

Irish Takeover Rules Notes

As announced on 30 October 2025, the Irish Takeover Panel has agreed that any discussions with third parties may be conducted within the context of the Formal Sale Process. Accordingly, BAWAG will not be subject to the 42-day deadline referred to in Rule 2.6(a) of the Irish Takeover Rules for so long as it is participating in the Formal Sale Process.

Other notices

Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting for the Company and no one else in connection with the Formal Sale Process and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Goldman Sachs International, or for giving advice in connection with the Formal Sale Process or any matter referred to herein