RBS.L Regulatory News (RBS)

The Royal Bank of Scotland Group plc

8 March 2016

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY IN ACCORDANCE WITH DTR 3.1.2R AND DTR 3.1.4R

1. The Royal Bank of Scotland Group plc (the "Company") announces that conditional deferred awards over ordinary shares of £1 in the Company ("Shares") vested on 7 March 2016 to the Persons Discharging Managerial Responsibility ("PDMRs") set out below. The conditional deferred awards were granted under the RBS 2010 Deferral Plan between March 2013 and March 2015. The number of Shares sold to meet relevant tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

The market price per Share on the date of vesting was £2.303. Vested Shares retained after payment of relevant tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.

2. The Company announces that conditional long term incentive awards over Shares vested on 7 March 2016 (where stated) or 8 March 2016 to the PDMRs set out below. The conditional long term incentive awards were granted under the RBS 2010 Long Term Incentive Plan in March 2013 (or as otherwise stated). The number of Shares sold to meet relevant tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

The market price per Share for those that vested on 7 March 2016 was £2.303. The market price per Share for those that vested on 8 March 2016 was £2.301. Vested Shares retained after payment of relevant tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.

3. The Company announces that conditional long term incentive awards over Shares have been granted on 8 March 2016 under the RBS 2014 Employee Share Plan to the PDMRs set out below. The awards are eligible to vest in equal tranches in 2020 and 2021, subject to the achievement of performance conditions. Malus provisions will apply up until vest and clawback provisions will also apply for a period of seven years from the date of grant.

The market price per Share used on the grant of the above awards was £2.2574. Vested Shares retained after payment of relevant tax liabilities will be subject to a six month retention period from vesting.

For further information contact:-

RBS Media Relations - +44(0)131 523 4205

Person responsible for making notification:-

Aileen Taylor, Company Secretary