Aib Group Regulatory News (AIBG)

Press Release

Minister extends AIB share trading plan

The Minister for Finance, Michael McGrath TD, today announces the further extension of the AIB Group Plc ("AIB" or the "Company") share trading plan into a third phase. The trading plan has been successful to date in gradually reducing the State's investment in the Company and improving liquidity in the shares.

Proceeds generated from phase two of the AIB trading plan amount to c. €121.5 million and the average price per share achieved was €2.85. The trading plan has contributed to the State's directed shareholding in the Company reducing from 71.12% at the beginning of 2022 to c. 57% currently.

Phase two of the trading plan was paused on 7 November 2022 for a period of 64 days following the latest AIB accelerated share sale by the State, and was otherwise due to end no later than 24 January 2023. The extension announced today will become operational in the coming days and will now end no later than 23 July 2023, unless further extended by the Minister.

In total, c. €286.4 million has been raised from the AIB trading plan since it became operational in January 2022.

In announcing the extension of the trading plan, the Minister commented:

"Given the success of the AIB trading plan since it became operational a year ago, I can see the merit in renewing the trading plan into a third phase. The plan has played an important role in reducing the State's shareholding in AIB to c.57% currently, and I hope that it will continue to play a role in the future alongside other monetisation options, should they present themselves."

In line with the Government's commitment to deliver best value for the taxpayer, shares will not be sold below a pre-determined floor price, which the Department of Finance will keep under review.

Merrill Lynch International ("BofA Securities") will continue to act on behalf of the Minister in executing the trading plan. BofA Securities will continue to target that up to, but no more than, 15% of the expected aggregate total trading volume in the Company is to be sold over the duration of the trading plan. The number of shares sold will depend on market conditions, amongst other factors.

The Department of Finance is being advised by N.M. Rothschild & Sons Limited ("Rothschild & Co") and William Fry LLP in relation to this transaction.

ENDS

This press release, is not for publication or distribution, in whole or in part, directly or indirectly, in, into or from the United States of America (including its territories or possessions, any state of the United States of America and the District of Columbia) (the "United States"), Australia, Canada, Japan, the Republic of South Africa, Switzerland or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. The distribution of this press release may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This press release does not contain or constitute an offer of, or the solicitation of an offer to buy, the securities referred to herein to any person in any jurisdiction, including in the United States, Australia, Canada, Japan, the Republic of South Africa, Switzerland or in any jurisdiction to whom or in which such offer or solicitati0n is unlawful.

The securities of AIB Group Plc described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There shall be no public offering of securities in the United States or any other jurisdiction.

Merrill Lynch International ("MLI"), which is authorised by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the Financial Conduct Authority (the "FCA") and the PRA, is acting exclusively for the Minister for Finance and no one else in connection with the trading plan and will not regard any other person(s) as its client in relation to the trading plan and will not be responsible to anyone other than the Minister for Finance for providing the protections afforded to clients of Citi nor for providing advice in relation to the trading plan.

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for the Minister for Finance and no one else in connection with the trading plan and will not be responsible to anyone other than the Minister for Finance for providing the protections afforded to clients of Rothschild & Co, nor for providing financial advice in connection with the trading plan. Neither Rothschild & Co nor any of its directors, officers, employees, affiliates, alliance partners and/or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person(s) who is/are not a client(s) of Rothschild & Co in connection with the trading plan.