RYA.L Regulatory News (RYA)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Ryanair Holdings plc

LEI: 635400BR2ROC1FVEBQ56

2. Reason for the notification (please tick the appropriate box or boxes):

[x] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:

The Goldman Sachs Group, Inc.

City and country of registered office (if applicable):

Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, USA

4. Full name of shareholder(s) (if different from 3.)v: Goldman Sachs International

5. Date on which the threshold was crossed or reachedvi: 02/11/2020

6. Date on which issuer notified: 04/11/2020

7. Threshold(s) that is/are crossed or reached: Above 3%

8. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments(total of 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

3.07%

3.18%

6.25%

1,125,292,028

Position of previous notification (if applicable)

3.02%

3.18%

6.20%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BYTBXV33

34,179,124

3.04%

US7835132033

363,473

0.03%

SUBTOTAL A

34,542,597

3.07%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

Securities Lending

Open

747,222

0.07%

Swap

21/01/2021

10,000,046

0.89%

SUBTOTAL B.1

10,747,268

0.96%

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

Swap

09/06/2021

Cash

 7,501,007

0.67%

Swap

28/09/2021

Cash

 5,881,148

0.52%

Swap

26/01/2021

Cash

 5,005,402

0.44%

Swap

27/09/2021

Cash

 4,557,021

0.40%

CFD

30/09/2030

Cash

 715,052

0.06%

CFD

30/09/2030

Cash

 263,577

0.02%

CFD

14/10/2030

Cash

 191,890

0.02%

CFD

30/09/2030

Cash

 137,372

0.01%

CFD

19/08/2030

Cash

 109,385

0.01%

CFD

30/09/2030

Cash

 100,267

0.01%

CFD

23/10/2023

Cash

 68,974

0.01%

CFD

29/04/2030

Cash

 68,401

0.01%

CFD

08/07/2030

Cash

 60,501

0.01%

CFD

07/03/2029

Cash

 48,039

0.004%

CFD

12/06/2030

Cash

 41,001

0.004%

CFD

28/05/2030

Cash

 37,601

0.003%

CFD

24/03/2025

Cash

 29,681

0.003%

CFD

16/10/2030

Cash

 24,249

0.002%

CFD

25/10/2021

Cash

 22,500

0.002%

CFD

20/10/2023

Cash

 17,391

0.002%

CFD

29/11/2021

Cash

 13,392

0.001%

CFD

30/10/2030

Cash

 12,500

0.001%

CFD

15/04/2030

Cash

 12,426

0.001%

CFD

21/08/2030

Cash

 10,478

0.001%

CFD

18/03/2030

Cash

 10,270

0.001%

CFD

21/08/2030

Cash

 8,382

0.001%

CFD

25/10/2021

Cash

 7,500

0.001%

CFD

02/05/2023

Cash

 5,831

0.001%

CFD

08/04/2030

Cash

 5,800

0.001%

CFD

30/09/2030

Cash

 5,275

0.0005%

CFD

24/03/2025

Cash

 4,953

0.0004%

CFD

30/11/2021

Cash

 4,717

0.0004%

CFD

27/09/2024

Cash

 3,879

0.0003%

Swap

17/11/2020

Cash

 3,670

0.0003%

Swap

19/11/2020

Cash

 3,542

0.0003%

CFD

30/09/2030

Cash

 3,304

0.0003%

CFD

24/03/2025

Cash

 3,155

0.0003%

CFD

15/10/2030

Cash

 3,100

0.0003%

CFD

30/07/2030

Cash

 2,023

0.0002%

Swap

15/01/2021

Cash

 1,706

0.0002%

CFD

29/11/2021

Cash

 1,498

0.0001%

CFD

07/10/2030

Cash

 1,295

0.0001%

CFD

21/08/2030

Cash

 1,152

0.0001%

CFD

21/08/2030

Cash

 1,057

0.0001%

CFD

21/08/2030

Cash

 1,006

0.0001%

CFD

30/09/2030

Cash

 950

0.0001%

CFD

30/07/2030

Cash

 777

0.0001%

CFD

07/10/2030

Cash

 748

0.0001%

CFD

31/07/2030

Cash

 667

0.0001%

CFD

30/07/2030

Cash

 647

0.0001%

CFD

30/11/2021

Cash

 528

0.00005%

CFD

30/10/2030

Cash

 500

0.00004%

Swap

05/07/2022

Cash

 490

0.00004%

Swap

08/07/2022

Cash

 478

0.00004%

Swap

04/09/2022

Cash

 67

0.00001%

Swap

04/09/2022

Cash

 32

0.000003%

Swap

04/09/2022

Cash

 21

0.000002%

Swap

04/09/2022

Cash

 18

0.000002%

Swap

17/05/2021

Cash

 13

0.000001%

SUBTOTAL B.2

25,018,304

2.22%

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

The Goldman Sachs Group, Inc.

Goldman Sachs (UK) L.L.C.

Goldman Sachs Group UK Limited

Goldman Sachs International

3.04%

3.15%

6.19%

The Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC

The Goldman Sachs Group, Inc.

GSAM Holdings LLC

Goldman Sachs Asset Management, L.P.

The Goldman Sachs Group, Inc.

Folio Financial, Inc.

Folio Investments Inc.

The Goldman Sachs Group, Inc.

IMD Holdings LLC

United Capital Financial Partners, Inc.

United Capital Financial Advisers, LLC

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi:

Please note, the total amount of voting rights have been rounded to 2 decimal places therefore there is a possibility of a rounding error.

General email contact:

gs-regops-emea-position-enquiries@gs.com