Possible Offer for Permanent TSB Group Holdings

THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE IRISH TAKEOVER PANEL ACT 1997, TAKEOVER RULES 2022 AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE.

SCOTCHSTONE CAPITAL LLP

POSSIBLE OFFER FOR PERMANENT TSB GROUP HOLDINGS PLC

Scotchstone Capital LLP ("Scotchstone") confirms that it is considering making an offer for Permanent TSB Group Holdings plc ("PTSB").

There can be no certainty that any offer will be made or as to the terms on which any offer might be made.

Disclosure requirements

Disclosure tables, giving details of the companies in whose 'relevant securities' 'opening positions' and 'dealings' should be disclosed, can be found on the Takeover Panel's website at www.irishtakeoverpanel.ie.

Responsibility

The Designated Members of Scotchstone Capital LLP accept responsibility for the information contained in this announcement. To the best of their knowledge and belief, having taken all reasonable care to ensure that such is the case, the information contained in this announcement is in accordance with the facts and, where appropriate, does not omit anything likely to affect the import of such information.

General

Confidentiality

Scotchstone intends to maintain strict confidentiality in respect of relevant discussions and does not presently intend to make any further public disclosure concerning those discussions except as required by applicable law, the Irish Takeover Rules, the Irish Takeover Panel, any competent court or other regulatory authority.

A copy of this announcement will be available at www.scotchstone-capital.com