RBS.L Regulatory News (RBS)

10 May 2019

The Royal Bank of Scotland Group plc

INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) in accordance with Article 19 of the EU Market Abuse Regulation 596/2014

1. The Royal Bank of Scotland Group plc (the Company) announces that ordinary shares of £1 each in the Company (Shares) (ISIN: GB00B7T77214) were delivered to PDMRs on 8 May 2019, as set out below.

The Shares delivered represent payment of a fixed share allowance for the six month period ending 30 June 2019 and have been calculated using a share price of £2.3874.

The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows:-

The above transactions took place outside of a trading venue. The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.352. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs in the Computershare Retained Share Nominee account and will be released in instalments over a three year period.

2. The Company announces that on 8 May 2019 Ross McEwan, transferred 27,602 Shares to charity for nil consideration. The transfer is in line with the commitments Mr McEwan made in February 2015 and February 2016 to transfer all of his 2015 fixed share allowance and half of his 2016 fixed share allowance to charity. Following the transfer to charity, Mr McEwan has relinquished all legal and beneficial rights to such Shares. The transfer took place outside of a trading venue.

Legal Entity Identifier: 2138005O9XJIJN4JPN90

For further information contact:-

RBSG Investor RelationsAlexander Holcroft

Head of Investor Relations+44(0)20 7672 1758

RBSG Media Relations

+44(0)131 523 4205