RBS.L Regulatory News (RBS)

8 June 2017

The Royal Bank of Scotland Group plc

Legal Entity Identifier: 2138005O9XJIJN4JPN90

INITIAL NOTIFICATION OF TRANSACTION OF A PERSON DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMR") IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014

The Royal Bank of Scotland Group plc (the "Company") announces that on 7 June 2017 a conditional deferred award over ordinary shares of £1 each in the Company ("Shares") (ISIN: GB00B7T77214) vested to the PDMR listed below. The conditional deferred award was granted under the RBS 2014 Employee Share Plan in March 2017. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by the PDMR is set out below:-

The above transaction took place outside of a trading venue. The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.551. Shares retained after payment of associated tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.

For further information contact:-

RBS Investor RelationsAlexander HolcroftHead of Equity Investor Relations+44 20 7672 1758

RBS Media Relations

+44(0)131 523 4205