Dividend Declaration

THE ROYAL BANK OF SCOTLAND GROUP plc

Correction to dividends on Series F non-cumulative preference shares of US$0.01 for the three months to 30 June 2016

27 June 2016

The previous announcement of the dividend on the Series F non-cumulative preference shares of US$0.01 for the three months to 30 June 2016 (dated 26 May 2016) contained an incorrect dividend amount payable per share.

The Directors have since declared the revised dividends on the Series F non-cumulative preference shares of US$0.01 each, all of which are represented by American Depositary Shares, for the three months to 30 June 2016. The dividends will be paid on 30 June 2016 at the undernoted rate to holders on the register at the close of business on 15 June 2016.

For further information, please contact:

RBS Investor Relations

Matthew Richardson

Head of Fixed Income Investor Relations

Tel: +44 (0)20 7678 1800