Sale of Non-Performing Loans

14 November 2025

PERMANENT TSB GROUP HOLDINGS PLC

SALE OF NON-PERFORMING LOANS

Permanent TSB plc ("PTSB", the "Bank"), a wholly owned subsidiary of Permanent TSB Group Holdings plc, has agreed the sale of a second and final tranche of a Non-Performing Loan ("NPL") portfolio (the "Portfolio") to Mars Capital Finance Ireland DAC, trading as Mars Capital ("Mars Capital") as part of a consortium arrangement with Mars Capital and certain funds managed or sub-advised by Apollo. This transaction follows the acquisition from PTSB by Mars Capital, announced in July 2024, of a first tranche of NPLs.

This transaction involves the sale of a non-performing Portfolio with a gross balance sheet value of €76 million and an overall risk weight intensity of c.63%. The Portfolio comprises of c.490 loan accounts secured on c.455 properties. The loan accounts are linked to c.410 borrowing relationships (a borrowing relationship can be a single borrower or two or more joint borrowers).

All of the loans are classified as NPLs and approximately 55% are tracker loans, with 10% fixed rate and 35% variable rate.

The transaction is not connected with the recent Formal Sale Process ("FSP") announcement.

As has been the case with previous transactions undertaken by the Bank, all customers whose loans are included in this transaction will continue to have the same regulatory protections under the Consumer Protection Code (CPC) and the Code of Conduct on Mortgage Arrears (CCMA) after the sale.

The loans within the Portfolio will continue to be serviced by PTSB for a period of up to six months. While the loans are being serviced by PTSB, customers will continue to have the right to avail of PTSB's mortgage products, interest rates and services subject to applicability and/or terms and conditions. At the end of this period, legal title and loan account servicing will transfer to Mars Capital, which is regulated by the Central Bank of Ireland.

This transaction will increase the Bank's Total Capital Ratio by c.10 basis points once fully completed. This transaction also alleviates the negative capital impact of regulatory calendar provisioning associated with this Portfolio, which based on existing risk weights and capital requirements is equivalent to c. €0.5 billion of new lending. The transaction reduces the Bank's H1'25 NPL ratio to c.1.4% on a pro forma basis, 40bps lower than the European average of 1.8%[1], and the Bank does not currently envisage any further loan sales in the near future.

Post-Transaction Loan Servicing and Customer Supports:

The terms and conditions of individual loan accounts, including any 'Alternative Repayment Arrangements' agreed between customers and PTSB, remain unchanged and will continue to apply post the transfer to Mars Capital.

Over the coming days, the Bank will write to all customers whose loans are included in this transaction. The Bank has published a set of frequently asked questions on its customer support hub https://ptsb.ie/transfertomars/ to support customers with their queries. Customers can also contact the Bank's dedicated team on 1800 855 010 or +353 21 601 3700 if calling from abroad. Lines are open from Monday to Friday 9am until 5.15pm (excluding public holidays).

Ends

Note on forward-looking information:

This Announcement contains forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Group or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Group undertakes no obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.