Yorkshire Building Society Exercise of Call Option

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES, OR MAY QUALIFY, AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 ("MAR")

YORKSHIRE BUILDING SOCIETY£250,000,000 4.125 per cent. Fixed Rate Callable Reset Subordinated Notes due 2024 under the £5,000,000,000 Note Programme (ISIN: XS1140677250) (the "Notes")

21 October 2019

Announcement of Early Redemption and Related Cancellation of the Listing of the Notes

Yorkshire Building Society (the "Issuer") today gave notice to holders of the outstanding Notes issued under its £5,000,000,000 Note Programme of the exercise of its call option (the "Issuer Call Option") pursuant to Condition 6(c) of the terms and conditions of the Notes (the "Conditions"), as supplemented by the Final Terms dated 18 November 2014 (the "Final Terms").

The Issuer shall redeem all outstanding Notes pursuant to such Issuer Call Option on 20 November 2019 (the "Redemption Date") at the Optional Redemption Amount set out in the Final Terms.

The Issuer has requested the UK Financial Conduct Authority (the "FCA") to cancel the listing of all outstanding Notes on the Redemption Date pursuant to LR 5.3.1 of the FCA Listing Rules.

Unless otherwise defined herein, defined terms used have the meanings given to them in the Conditions.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Chris Parrish, Head of Treasury of Yorkshire Building Society.

LEI Number (Yorkshire Building Society): WXD0EHQRPI7HKN3I5T57