REG-£150 million Fixed Rate Reset Perpetual Subordinated Contingent Convertible Securities Publication of Offering Memorandum

OsbAnnouncement

21/11/2025 13:15

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OSB GROUP PLC

LEI: 213800ZBKL9BHSL2K459

21 NOVEMBER 2025

£150 million Fixed Rate Reset Perpetual Subordinated Contingent Convertible
Securities
Publication of Offering Memorandum

The offering memorandum dated 21 November 2025 (the "Offering Memorandum") in
relation to its issue of £150 million Fixed Rate Reset Perpetual Subordinated
Contingent Convertible Securities at 100 per cent issue price with an initial
fixed interest rate of 7.750 per cent. per annum and reset dates on 25 May
2031 (the “First Reset Date”) and each date falling five, or an integral
multiple of five, years after the First Reset Date, has been submitted to the
International Securities Market of the London Stock Exchange.

Please read the disclaimer below "Disclaimer - Intended Addressees" before
attempting to access this service, as your right to do so is conditional upon
complying with the requirements set out below.

To view the Offering Memorandum, paste the following URL into the address bar
of your browser:

https://www.osb.co.uk/investors/debt-investors/at1-securities

A copy of the Offering Memorandum has been submitted to the National Storage
Mechanism and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. This website is not
provided for, nor is it directed at, U.S. persons or persons in the United
States. If you are a U.S. person, or you are viewing this page from the United
States, you should exit this section of the website.

Note

The person responsible for arranging the release of this announcement on
behalf of OSBG is Jason Elphick, Group General Counsel and Company Secretary.
All enquiries should be directed to Investor Relations or Brunswick Group,
contact details below.

Enquiries:
Jason Elphick
Group General Counsel and Company Secretary
t: 01634 835 796

Investor relations
Alexander Holcroft
Group Director of Investor Relations
t: 01634 838 973

Brunswick Group
Robin Wrench / Simone Selzer
t: 020 7404 5959

DISCLAIMER - INTENDED ADDRESSEES

This publication of this announcement does not constitute an offer of
securities for sale in the United States. The securities described herein have
not been, and will not be, registered under the U.S. Securities Act of 1933,
as amended (the “Securities Act”), or under any relevant securities laws
of any state of the United States of America, and may not be offered or sold
in the United States of America or to, or for the benefit of, U.S. persons (as
defined in Regulation S of the Securities Act, unless the securities are
registered under the Securities Act or an exemption from the registration
requirements of the Securities Act is available.

Please note that the information contained in the Offering Memorandum may be
addressed to and/or targeted at persons who are residents of particular
countries only (as further specified in the Offering Memorandum) and is not
intended for use and should not be relied upon by any person outside these
countries and/or to whom the offer contained in the Offering Memorandum is not
addressed. Prior to relying on the information contained in the Offering
Memorandum you must ascertain from the Offering Memorandum whether or not you
are part of the intended addressees of the information contained therein.

Confirmation of your Representation: In order to be eligible to view the
Offering Memorandum, you must be a person other than a U.S. person (within the
meaning of Regulation S under the Securities Act). By accessing the Offering
Memorandum, you shall be deemed to have represented that you and any customers
you represent are not U.S. persons, and that you consent to delivery of the
Offering Memorandum via electronic publication.

Your right to access this service is conditional upon your compliance with the
above requirement.

Notes to Editors

About OSB GROUP PLC

OneSavings Bank plc (OSB) began trading as a bank on 1 February 2011 and was
admitted to the main market of the London Stock Exchange in June 2014 (OSB.L).
OSB joined the FTSE 250 index in June 2015. On 4 October 2019, OSB acquired
Charter Court Financial Services Group plc (CCFS) and its subsidiary
businesses. On 30 November 2020, OSB GROUP PLC became the listed entity and
holding company for the OSB Group. The Group provides specialist lending and
retail savings and is authorised by the Prudential Regulation Authority, part
of the Bank of England, and regulated by the Financial Conduct Authority and
Prudential Regulation Authority. The Group reports under two segments,
OneSavings Bank and Charter Court Financial Services.

OneSavings Bank (OSB)

OSB primarily targets market sub-sectors that offer high growth potential and
attractive risk-adjusted returns in which it can take a leading position and
where it has established expertise, platforms and capabilities. These include
private rented sector Buy-to-Let, commercial and semi-commercial mortgages,
residential development finance, bespoke and specialist residential lending,
secured funding lines and asset finance.

OSB originates mortgages organically via specialist brokers and independent
financial advisers through its specialist brands including Kent Reliance for
Intermediaries, Rely and InterBay Commercial. It is differentiated through its
use of highly skilled, bespoke underwriting and efficient operating model.

OSB is predominantly funded by retail savings originated through the
long-established Kent Reliance name, which includes online and postal channels
as well as a network of branches in the South East of England. Diversification
of funding is currently provided by securitisation programmes and the Bank of
England’s lending facilities.

Charter Court Financial Services Group (CCFS)

CCFS focuses on providing Buy-to-Let and specialist residential mortgages,
mortgage servicing, administration and retail savings products. It operates
through its brands: Precise and Charter Savings Bank.

It is differentiated through risk management expertise and best-of-breed
automated technology and systems, ensuring efficient processing, strong credit
and collateral risk control and speed of product development and innovation.
These factors have enabled strong balance sheet growth whilst maintaining high
credit quality mortgage assets.

CCFS is predominantly funded by retail savings originated through its Charter
Savings Bank brand. Diversification of funding is currently provided by
securitisation programmes and the Bank of England’s lending facilities