Aib Group Regulatory News (AIBG)

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Press Release

Minister announces the resumption of the AIB share trading plan

The AIB Group plc ("AIB") share trading plan, first announced in December 2021 and subsequently extended in June 2022, was paused on 28 June 2022 following the Irish State's successful disposal of shares in AIB by way of an accelerated bookbuild. As is the convention with such a sales process, the State, as the seller of shares, agreed to a "lock-up" period which meant that the State was unable to sell further shares in AIB for a period of 90 days.

Following the completion of the lock-up period, Merrill Lynch International ("BofA Securities") has resumed the AIB share trading plan under the same terms and conditions as were agreed in June 2022. BofA Securities will continue to target that up to, but no more than, 15% of the expected aggregate total trading volume in AIB is to be sold over the duration of the share trading plan. The number of shares sold will depend on market conditions, amongst other factors. In line with the Government's commitment to deliver best value for the taxpayer, shares will not be sold below a pre-determined floor price, which the Department of Finance will keep under review.

In announcing the resumption of the share trading plan, the Minister commented:

"Following the successful disposal of 5% of the issued share capital of AIB by the State in June, the share trading plan has now resumed following a "lock-up" period and this will allow us to continue to reduce our shareholding in the bank gradually over time. I will continue to keep other monetisation options open, should these opportunities present themselves.

It continues to be this Government's belief that banking in the main is an activity that should be provided by the private sector and that taxpayer funds which were used to rescue the banks should be recovered and used for more productive purposes."

The share trading plan will end no later than 24 January 2023, unless further extended by the Minister.

The Department of Finance is being advised by N.M. Rothschild & Sons Limited and William Fry LLP in relation to this transaction.

ENDS

30 September 2022

This press release, is not for publication or distribution, in whole or in part, directly or indirectly, in, into or from the United States of America (including its territories or possessions, any state of the United States of America and the District of Columbia) (the "United States"), Australia, Canada, Japan, the Republic of South Africa, Switzerland or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. The distribution of this press release may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This press release does not contain or constitute an offer of, or the solicitation of an offer to buy, the securities referred to herein to any person in any jurisdiction, including in the United States, Australia, Canada, Japan, the Republic of South Africa, Switzerland or in any jurisdiction to whom or in which such offer or solicitati0n is unlawful.

The securities of AIB Group Plc described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There shall be no public offering of securities in the United States or any other jurisdiction.

Merrill Lynch International ("MLI"), which is authorised by the Prudential Regulation Authority (the "PRA") and regulated in the United Kingdom by the Financial Conduct Authority (the "FCA") and the PRA, is acting exclusively for the Minister for Finance and no one else in connection with the trading plan and will not regard any other person(s) as its client in relation to the trading plan and will not be responsible to anyone other than the Minister for Finance for providing the protections afforded to clients of Citi nor for providing advice in relation to the trading plan.

N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for the Minister for Finance and no one else in connection with the trading plan and will not be responsible to anyone other than the Minister for Finance for providing the protections afforded to clients of Rothschild & Co, nor for providing financial advice in connection with the trading plan. Neither Rothschild & Co nor any of its directors, officers, employees, affiliates, alliance partners and/or agents owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person(s) who is/are not a client(s) of Rothschild & Co in connection with the trading plan.