Standard Chartered PLC will commence buying-back ordinary shares of US$0.50 each and for a value of up to US$1 billion. The purpose of the Buy-back is to reduce the Group’s outstanding Ordinary Shares.

The Group has entered into an irrevocable, non-discretionary agreement with Goldman Sachs International (GS) to enable the purchase of Ordinary Shares by GS, acting as principal, during the period running from 20 February 2023 to no later than 29 September 2023 (subject to no regulatory objections or concerns arising), for a value of up to, but no greater than, US$1 billion and the on-sale of such Ordinary Shares by GS to the Group. GS will make its trading decisions in relation to the Ordinary Shares independently of the Group.

The maximum number of Ordinary Shares that can be purchased under the Buy-back is 211,203,234 Ordinary Shares (based on authority granted at the Group’s 2022 annual general meeting and assuming, in respect of any purchases after the Group’s 2023 annual general meeting, that an appropriate authorising resolution is passed at that meeting).

Any purchases of Ordinary Shares will be carried out on the London Stock Exchange and Cboe Europe Limited (through the BXE and CXE order books), and any other UK recognised investment exchange which may be agreed.