Holding(s) in Company

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Ryanair Holdings plc

LEI: 635400BR2ROC1FVEBQ56

2. Reason for the notification (please tick the appropriate box or boxes):

[X] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ ] Other (please specify)iii:

3. Details of person subject to the notification obligationiv :

Name:

The Goldman Sachs Group, Inc.

City and country of registered office (if applicable):

Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, USA

4. Full name of shareholder(s) (if different from 3.)v: Goldman Sachs International

5. Date on which the threshold was crossed or reachedvi: 11/09/2020

6. Date on which issuer notified: 15/09/2020

7. Threshold(s) that is/are crossed or reached: Below 5%

8. Total positions of person(s) subject to the notification obligation:

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments(total of 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

4.84%

1.26%

6.09%

1,125,292,028

Position of previous notification (if applicable)

5.04%

1.25%

6.29%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00BYTBXV33

54,137,787

4.81%

US7835132033

296,915

0.03%

SUBTOTAL A

54,434,702

4.84%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

Securities Lending

Open

876,947

0.08%

SUBTOTAL B.1

876,947

0.08%

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

Swap

09/06/2021

Cash

7,506,188

0.67%

Swap

27/09/2021

Cash

4,554,853

0.40%

CFD

03/09/2030

Cash

463,662

0.04%

CFD

30/04/2025

Cash

190,838

0.02%

CFD

19/08/2030

Cash

92,755

0.01%

CFD

29/04/2030

Cash

68,402

0.01%

CFD

08/07/2030

Cash

60,502

0.01%

CFD

12/06/2030

Cash

41,001

0.004%

CFD

28/05/2030

Cash

37,601

0.003%

CFD

18/03/2030

Cash

33,405

0.003%

CFD

15/06/2023

Cash

31,051

0.003%

CFD

28/07/2023

Cash

22,678

0.002%

CFD

21/08/2030

Cash

22,254

0.002%

CFD

23/08/2028

Cash

21,641

0.002%

CFD

22/08/2028

Cash

13,660

0.001%

CFD

15/04/2030

Cash

12,363

0.001%

CFD

24/03/2025

Cash

10,852

0.001%

CFD

21/08/2030

Cash

10,415

0.001%

CFD

17/08/2028

Cash

9,200

0.001%

CFD

11/10/2021

Cash

7,768

0.001%

CFD

15/06/2023

Cash

7,761

0.001%

CFD

21/08/2028

Cash

6,000

0.001%

CFD

02/05/2023

Cash

5,831

0.001%

CFD

08/04/2030

Cash

5,800

0.001%

CFD

23/02/2023

Cash

5,015

0.0004%

CFD

11/09/2030

Cash

4,400

0.0004%

CFD

27/09/2024

Cash

3,701

0.0003%

Swap

17/11/2020

Cash

3,668

0.0003%

Swap

19/11/2020

Cash

3,540

0.0003%

CFD

21/08/2030

Cash

2,210

0.0002%

CFD

24/03/2025

Cash

1,811

0.0002%

Swap

15/01/2021

Cash

1,256

0.0001%

CFD

24/03/2025

Cash

1,126

0.0001%

CFD

21/08/2030

Cash

1,057

0.0001%

CFD

09/09/2030

Cash

1,000

0.0001%

CFD

10/09/2030

Cash

1,000

0.0001%

CFD

21/08/2030

Cash

993

0.0001%

CFD

30/07/2030

Cash

956

0.0001%

Swap

08/07/2022

Cash

658

0.0001%

CFD

15/05/2025

Cash

650

0.0001%

CFD

11/09/2030

Cash

400

0.00004%

CFD

30/07/2030

Cash

373

0.00003%

CFD

30/07/2030

Cash

346

0.00003%

CFD

31/07/2030

Cash

324

0.00003%

Swap

05/07/2022

Cash

157

0.00001%

Swap

05/07/2022

Cash

70

0.00001%

Swap

25/01/2022

Cash

66

0.00001%

CFD

11/09/2030

Cash

40

0.000004%

Swap

25/01/2022

Cash

30

0.000003%

Swap

04/09/2022

Cash

14

0.000001%

Swap

17/05/2021

Cash

13

0.000001%

Swap

04/09/2022

Cash

9

0.000001%

Swap

04/09/2022

Cash

8

0.000001%

Swap

04/09/2022

Cash

7

0.000001%

Swap

25/01/2022

Cash

5

0.0000005%

CFD

10/09/2030

Cash

1

0.0000001%

SUBTOTAL B.2

13,271,385

1.18%

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii

[X] Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

The Goldman Sachs Group, Inc.

Goldman Sachs (UK) L.L.C.

Goldman Sachs Group UK Limited

Goldman Sachs International

4.81%

6.02%

The Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC

The Goldman Sachs Group, Inc.

GSAM Holdings LLC

Goldman Sachs Asset Management, L.P.

The Goldman Sachs Group, Inc.

IMD Holdings LLC

United Capital Financial Partners, Inc.

United Capital Financial Advisers, LLC

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi:

Please note, the total amount of voting rights have been rounded to 2 decimal places therefore there is a possibility of a rounding error.

General email contact:

[email protected]