Successful Pricing of £250 million AT1 Securities

Shawbrook Group plc ('Shawbrook' or the 'Group') today announces the pricing of its £250 million Fixed Rate Reset Perpetual Additional Tier 1 ('AT1') Write Down Capital Securities (the 'Securities'), in conjunction with the invitation launched on 27 April 2026 to holders of its existing £124 million 12.103% AT1 securities to tender their securities for purchase.

The Securities are expected to be (i) issued on 6 May 2026 upon the satisfaction or waiver of customary conditions precedent and (ii) admitted to trading on the London Stock Exchange's International Securities Market. Following issuance, the Securities will be callable from 6 May 2031 to 6 November 2031 (and every interest payment date thereafter), subject to the satisfaction of certain conditions.

Dylan Minto, Chief Financial Officer commented:

"I'm pleased to announce the successful pricing of our latest AT1 issuance, which is being undertaken alongside a concurrent tender offer for our existing AT1 securities. This benchmark transaction enhances our capital flexibility as we continue to deliver our strategy and the orderbook peaked in excess of £1 billion, reflecting the market's confidence in Shawbrook.

Consistent with our disciplined approach to capital allocation, we actively manage and optimise our capital stack, across a broad range of funding and capital instruments. AT1 remains an efficient and effective instrument to support Shawbrook's continued growth."

The Group achieved competitive pricing, with an initial coupon of 8.375% and a Reset Spread of 380.4 basis points over Gilts.

Barclays, Goldman Sachs International and NatWest acted as Joint Lead Managers for the issuance.