BAWAG Group AG today confirmed that its wholly-owned subsidiary, BAWAG P.S.K, has submitted a non-binding proposal which may or may not lead to an offer being made to acquire the entire issued and to be issued share capital of Permanent TSB Group Holdings plc (“PTSB”) for cash as part of the formal sales process announced by PTSB on 30 October 2025.

At this stage, no decision has been made by BAWAG as to whether it will make an offer for PTSB nor the price at which any such offer may be made. Therefore, there can be no certainty that any offer will be made, nor as to the terms on which any such offer may be made, if forthcoming.

The Irish Takeover Panel has granted certain dispensations in connection with the formal sales process. Accordingly, the 42 day deadline referred to in Rule 2.6(a) of the Irish Takeover Rules will not apply to BAWAG for so long as BAWAG is participating in the formal sales process. BAWAG currently remains a participant in that process.