Notice of Redemption and Cancellation of Listing

NOTICE OF REDEMPTION AND CANCELLATION OF LISTING

TSB Banking Group plc

(the "Issuer")

£300,000,000 Fixed-to-Floating Rate Callable Subordinated Tier 2 Capital Notes due 2031

ISIN: XS2324523237

(the "Notes")

issued under the £2,000,000,000 Euro Medium Term Note Programme of the Issuer and £2,000,000,000 Euro Medium Term Note Programme of TSB Bank plc (the "Programme")

23 March 2026

The Issuer has today given notice to the Holders that it has elected to redeem all of the outstanding Notes pursuant to Condition 10(b) of the terms and conditions of the Notes (the "Conditions"), as completed by the Final Terms relating to the Notes dated 25 March 2021 (the "Final Terms"), and paragraph 18 of the Final Terms.

The Notes will be redeemed on 30 March 2026 (being the Optional Redemption Date). The Notes will be redeemed at their principal amount, together with any interest accrued to the Optional Redemption Date.

The Notes, and the listing of the Notes on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the main market of the London Stock Exchange plc, will be cancelled forthwith following the redemption.

Capitalised terms used herein but not otherwise defined shall have the meaning given to such terms in the Conditions.

Issuer LEI Number: 213800KWCGLFG9WZDX35

For further information, please contact:

Gina Bouette

Treasury Legal

TSB Bank plc

Email: [email protected]

Telephone: +44 (0)7919014843