Update on Timing of Publication of Scheme Document

BY

BAWAG P.S.K. BANK FÜR ARBEIT UND WIRTSCHAFT UND ÖSTERREICHISCHE POSTSPARKASSE AKTIENGESELLSCHAFT

A WHOLLY OWNED SUBSIDIARY OF BAWAG GROUP AG

Update on Timing of Publication and Despatch of Scheme Document

On 14 April 2026, the board of directors of Permanent TSB Group Holdings plc ("PTSBGH") and the management board of BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft ("BAWAG PSK"), a wholly owned subsidiary of BAWAG Group AG ("BAWAG"), announced that they had agreed the terms of a recommended acquisition of the entire issued share capital of PTSBGH (the "Acquisition").

It was also announced on 14 April 2026 that a scheme document, containing further information about the Acquisition and notices of a scheme meeting and extraordinary general meeting, together with the associated forms of proxy (the "Scheme Document"), would be posted to PTSBGH's shareholders within 28 days.

PTSBGH has applied to the High Court of Ireland for, but has not yet obtained, an order directing the convening the scheme meeting. Consequently, PTSBGH has sought, and obtained, from the Irish Takeover Panel an extension of the deadline for posting the Scheme Document until 5.00p.m. on Tuesday, 19 May 2026.

Notwithstanding the extended deadline, PTSBGH intends to finalise and post the Scheme Document as soon as reasonably practicable.

This announcement has been made with the consent of BAWAG PSK.

Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Rule 2.7 announcement dated 14 April 2026.

The PTSBGH Directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the PTSBGH Directors (who have taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Disclosure requirements of the Irish Takeover Rules

General