Aib Group Regulatory News (AIBG)

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Press Release

Further Renewal of the AIB share trading plan

The Minister for Finance Michael McGrath today announces the further extension of the AIB Group Plc ("AIB" or the "Company") share trading plan into a fifth phase. The trading plan has been one of a number of successful mechanisms used by the State in reducing its shareholding in AIB since the beginning of 2022.

To date, proceeds generated from phase four of the AIB trading plan amount to c. ?124.7 million and the average price per share achieved is ?4.23. These proceeds will be returned to the Ireland Strategic Investment Fund pending further consideration by the Minister.

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. 40.8% currently. In total, c. ?824 million has been raised from the AIB trading plan since it became operational in January 2022.

The extension announced today will become operational in the coming weeks and will now end no later than 23 July 2024, unless further extended by the Minister.

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

"The AIB trading plan has played an important role in enabling us to gradually reduce our shareholding in the bank since it became operational, especially when opportunities for larger block trades were not available to us. Therefore, I am happy to announce the renewal of the trading plan into a fifth phase. As before, we will continue to look at other disposal 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 and William Fry LLP in relation to this transaction.

ENDS

9 January 2024

For further information, contact:

Brian Meenan, Press Officer, Department of Finance

+353 87 2198857

pressoffice@finance.gov.ie

Important information

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, 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 Merrill Lynch International nor for providing advice in relation to the trading plan. Neither Merrill Lynch International nor any of its directors, officers, employees, affiliates, 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) in connection with the trading plan or the content of this announcement, other than to the Minister of Finance.

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.