Announcement of early redemption

Paragon Banking Group PLC

Registration number: 02336032

LEI: 213800S1TDKIB1IUTS72

PARAGON BANKING GROUP PLC
£150,000,000 4.375 per cent. Fixed Rate Reset Callable Subordinated Tier 2 Notes due 2031
(ISIN: XS2312738599/ Common Code: 231273859) (the "Notes"),
of which £150,000,000 in aggregate principal amount is currently outstanding

21 July 2026

Announcement of early redemption

Paragon Banking Group PLC (the "Issuer") today gave notice to the holders of the outstanding Notes that, pursuant to Condition 5(b) (Redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions") set out in Part 2 of Schedule 2 to the trust deed dated 21 March 2021 (the "Trust Deed") between the Issuer and Citicorp Trustee Company Limited (the "Trustee"), the Issuer has exercised its option to redeem all of the outstanding Notes on 5 August 2026 (the "Redemption Date") at their principal amount together with accrued and unpaid interest thereon to (but excluding) the Redemption Date.

Payment in respect of the Notes will be made through Euroclear Bank SA/NV and Clearstream Banking, S.A., in accordance with their standard procedures.

Unless otherwise defined herein, defined terms used have the meanings given to them in the Trust Deed and/or the Conditions.

The listing of the Notes on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the Main Market of the London Stock Exchange plc will be cancelled, and the display of the Notes on the Sustainable Bond Market of the London Stock Exchange plc will cease, on or shortly after, the Redemption Date.

FURTHER INFORMATION

For further information, please contact:

Marius Van Niekerk

E-mail: [email protected]

Telephone: +44 (1217) 12-2051