Irish Continental Group plc will seek shareholder approval for a share repurchase program at its Annual General Meeting to be held on May 29, 2013. Under the plan, the company will repurchase up to 15% of its issued share capital. The minimum price which may be paid for any share is an amount equal to its nominal value.

The maximum price which may be paid for any share is higher of, either the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out, as stipulated by Article 5(1) of Commission Regulation (EC) (No. 2273/2003) of 22 December 2003 implementing the Market Abuse Directive 2003/6/EC as regards exemptions for buy-back programs and stabilization of financial instruments; or 105% of the average of the Relevant Price for such shares of the same class for each of the five business days immediately preceding the day of the purchase of the shares. All shares purchased will be cancelled and will not be available for re-issue.

The repurchase program is considered to be in the best interests of shareholders. The plan will expire at the conclusion of the next Annual General Meeting of the company or if earlier, on November 28, 2014, unless previously varied, revoked or renewed.