Commentary & Deal Flow

Shawbrook Group plc (Ticker: SHAWLN), unrated, has mandated Barclays, Goldman Sachs International and NatWest, as Joint Lead Managers to arrange a series of fixed income investor calls starting on 27-Apr-26.

A minimum £200m PerpNC5.5 Additional Tier 1 transaction is expected to follow, subject to market conditions. The securities will be in Reg S, registered form.

Shawbrook Group plc has also announced today a tender offer to holders of its existing £124m 12.103% Fixed Rate Reset Perpetual Additional Tier 1 Write Down Capital Securities (the “Existing Securities”; ISIN: XS2545760188) with first optional redemption from 08-Dec-27 to tender any and all of the Existing Securities for purchase by the Shawbrook Group plc for cash, subject to the satisfaction (or waiver) of the New Issue Condition and the other conditions described in and subject to the terms set out in the tender offer memorandum dated 27-Apr-26 (the "Tender Offer Memorandum"). Barclays, Goldman Sachs International and NatWest are acting as Dealer Managers on the tender offer. Capitalised terms used but not defined in this paragraph have the meaning given to them in the Tender Offer Memorandum.

UK MiFIR professionals/ECPs-only / FCA CoCo restriction – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) OR UK PRIIPS KID/CCI product summary has been prepared as not available to retail in the EEA or in the UK. FCA CoCo Restriction - No sales to retail clients (as defined in COBS 3.4) in the UK.

The final admission particulars, when published, will be available via the website of Shawbrook Group plc.

FCA/ICMA Stabilisation applies.