Phoenix Group Holdings plc (LEI: 2138001P49OLAEU33T68)

Publication of Supplementary Prospectus

The following document has been approved by the United Kingdom Financial Conduct Authority on 23 November 2023 and is available for viewing:

Supplementary Prospectus dated 23 November 2023 (the "Supplementary Prospectus") relating to the Phoenix Group Holdings plc £5,000,000,000 Euro Medium Term Note Programme.

The Supplementary Prospectus should be read and construed in conjunction with the base prospectus dated 30 June 2023, as supplemented by a supplementary prospectus dated 2 October 2023 (the "Base Prospectus", which definition includes the base prospectus, the supplementary prospectus and all information incorporated by reference therein).

To view the full document, please paste the following URL into the address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/5046U_1-2023-11-23.pdf

A copy of the Supplementary Prospectus has also been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

For further information, please contact:

Phoenix Group Holdings plc

Office: 20 Old Bailey, London, EC4M 7AN

Group Treasurer: Rashmin Shah

Telephone: +44 20 4559 4196

Email: [email protected]

Website: http://www.thephoenixgroup.com/

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are residents of particular countries only and is not intended for use and should not be relied upon by any person outside these countries. Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

The Prospectus does not constitute an offer of securities for sale in the United States or to U.S. persons. The Notes described therein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under any relevant securities laws of any state of the United States and may not be offered or sold to U.S. persons or to persons within the United States, except pursuant to an exemption from the Securities Act.

Your right to access this service is conditional upon complying with the above requirement.