Successful issue of new £60 million Tier 2 notes

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Rathbones Group Plc*

Successful issue of new £60 million Tier 2 notes

The new Tier 2 notes, which will be admitted to trading on the International Securities Market of the London Stock Exchange with the ticker 'RATLN', have a maturity of 9 December 2036 and a 3-month par call option exercisable from 9 September 2031 to 9 December 2031 at Rathbones' discretion, subject to compliance with usual prudential requirements. Interest is payable at a fixed rate of 8.125% per annum until the interest payment date falling in December 2031, with a reset spread over 5-year Gilts of 336.9 basis points thereafter if the call option is not exercised.

Iain Hooley, Group Chief Financial Officer, said: "We are pleased with the strong investor response to our first listed Tier 2 bond issue, which reflects confidence in Rathbones' strong capital position and the credibility of our long-term strategy. We would like to thank all investors we have met during the process. The new issuance forms part of our disciplined approach to capital management, ensuring an efficient capital structure for the Group while supporting our ambition to become the best wealth manager in the UK, by far."