29 September 2025

Publication of Offering Circular

The following offering circular (the "Offering Circular") is available for viewing:

VANQUIS BANKING GROUP PLC - £60,000,000 10.875 per cent. Fixed Rate Reset Perpetual Subordinated Contingent Convertible Notes

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Offering Circular dated 29 September 2025

http://www.rns-pdf.londonstockexchange.com/rns/2589B_1-2025-9-29.pdf

DISCLAIMER - INTENDED ADDRESSEES

This announcement is not for distribution in the United States.

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

In particular, neither this announcement nor the Offering Circular shall constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities law of any such jurisdiction.

The securities described in the Offering Circular (the "Securities") 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 of America and are subject to U.S. tax law requirements. Subject to certain exceptions, the Securities may not be offered or sold directly or indirectly within the United States or to, or for the account or benefit of, U.S. persons or to persons within the United States of America, as such terms are defined in Regulation S under the Securities Act.  Any forwarding, distribution or reproduction of the Offering Circular in whole or in part is prohibited. Failure to comply with this notice may result in a violation of the Securities Act or the applicable laws of other jurisdictions. There will be no public offering of the Securities in the United States.