Partial Redemption of PIK

April 24, 2015

AA plc

("AA" or the "Company")

Partial redemption of Senior PIK Toggle Notes

The AA today announces that as of this date its subsidiary AA PIK Co Ltd, the issuer of £175,000,000 9½% / 10¼% Senior PIK Toggle Notes due 2019 (the "Notes"), has completed an optional redemption for all of the Notes outstanding.

The redemption has been funded with the net proceeds from an equity offering, being a placing and open offer that the Company completed on 21 April 2015.

This redemption is in line with the AA's ambition to continuously explore opportunities to optimise the Company's capital structure as set out at the time of the IPO.

Enquiries:

The AA  01256 497057

Jill Sherratt

Headland 020 7367 5222

Howard Lee

Chris Salt

Francesca Tuckett