Holding(s) in Company

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

[X] 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: 10/12/2021

6. Date on which issuer notified: 14/12/2021

7. Threshold(s) that is/are crossed or reached: Above 9%

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

0.72%

8.30%

9.02%

1,133,082,028

Position of previous notification (if applicable)

0.67%

8.31%

8.98%

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

7,904,248

0.70%

US7835132033

268,681

0.02%

SUBTOTAL A

8,172,929

0.72%

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

1,312,495

0.12%

Future

18/03/2022

16,011,953

1.41%

Call Option

18/03/2022

13,436,300

1.19%

Call Option

17/12/2021

 41,400

0.004%

Call Option

18/03/2022

 25,000

0.002%

Call Option

18/03/2022

 25,000

0.002%

Call Option

17/12/2021

 21,000

0.002%

SUBTOTAL B.1

30,873,148

2.72%

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

11/04/2022

Cash

 9,514,531

0.84%

Swap

28/03/2022

Cash

 9,513,394

0.84%

Swap

30/05/2022

Cash

 8,610,001

0.76%

Swap

26/10/2022

Cash

 6,965,864

0.61%

Swap

23/09/2022

Cash

 6,837,087

0.60%

Swap

28/09/2022

Cash

 5,875,869

0.52%

Swap

27/10/2023

Cash

 4,557,805

0.40%

Swap

24/02/2022

Cash

 3,999,345

0.35%

Swap

12/01/2022

Cash

 3,503,097

0.31%

Swap

17/02/2022

Cash

 2,002,335

0.18%

Swap

03/11/2031

Cash

 722,478

0.06%

Swap

24/10/2022

Cash

 636,803

0.06%

Swap

26/11/2031

Cash

 93,098

0.01%

Swap

15/10/2031

Cash

 55,180

0.005%

Swap

20/10/2026

Cash

 52,100

0.005%

Swap

08/12/2026

Cash

 38,135

0.003%

Put Option

17/12/2021

Physical

 30,000

0.003%

Swap

23/11/2026

Cash

 25,095

0.002%

Put Option

17/12/2021

Physical

 25,000

0.002%

Put Option

17/12/2021

Physical

 25,000

0.002%

Swap

25/11/2030

Cash

 19,462

0.002%

Swap

24/03/2031

Cash

 18,600

0.002%

Swap

01/12/2031

Cash

 12,384

0.001%

Swap

25/11/2030

Cash

 9,624

0.001%

Swap

17/12/2030

Cash

 6,802

0.001%

Swap

27/09/2024

Cash

 5,765

0.001%

Swap

08/12/2026

Cash

 4,898

0.0004%

Swap

02/12/2024

Cash

 3,770

0.0003%

Swap

08/12/2026

Cash

 3,373

0.0003%

Swap

03/06/2031

Cash

 3,335

0.0003%

Swap

08/12/2026

Cash

 2,066

0.0002%

Swap

17/12/2030

Cash

 1,765

0.0002%

Swap

17/12/2030

Cash

 1,655

0.0001%

Swap

13/08/2031

Cash

 706

0.0001%

Swap

10/12/2031

Cash

 404

0.00004%

Swap

08/07/2022

Cash

 305

0.00003%

Swap

21/05/2031

Cash

 285

0.00003%

Swap

05/07/2022

Cash

 113

0.00001%

Swap

15/09/2023

Cash

 48

0.000004%

Swap

02/02/2022

Cash

 2

0.0000002%

SUBTOTAL B.2

63,177,578

5.58%

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

8.27%

8.29%

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.

Goldman Sachs Bank USA

Goldman Sachs Bank Europe SE

The Goldman Sachs Group, Inc.

Folio Financial, Inc.

Folio Investments Inc.

The Goldman Sachs Group, Inc.

The Goldman Sachs Trust Company, National Association

The Goldman Sachs Trust Company of Delaware

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