Completion of the Abbey Life Acquisition

Completion Announcement - ABBEY LIFE Acquisition

Phoenix Group Holdings

30 December 2016

Phoenix Group Holdings announces the completion of the acquisition of Abbey Life

Further to the announcement of 13 December 2016, Phoenix Group Holdings today announces the completion of the acquisition of Abbey Life Assurance Company Limited, Abbey Life Trustee Services Limited and Abbey Life Trust Securities Limited from Deutsche Holdings No. 4 Ltd., a wholly owned subsidiary of Deutsche Bank AG.

Enquiries

Investors:

Sam Perowne, Head of Investor Relations, Phoenix Group

+44 (0) 20 3735 0021

Media:

Neil Bennett, Maitland

Tom Eckersley, Maitland

+ 44 (0) 20 7379 5151