M&G plc (the Company) announced separate invitations to holders of its outstanding: (i) £750,000,000 5.625% Resettable Dated Tier 2 Notes due 2051 (ISIN: XS1888920276) (the 2051 Notes); (ii) £600,000,000 5.560% Resettable Dated Tier 2 Notes due 2055 (ISIN: XS1243995302) (the 2055 Notes); (iii) £700,000,000 6.340% Resettable Dated Tier 2 Notes due 2063 (ISIN: XS1003373047) (the 2063 Notes); and (iv) £500,000,000 6.250% Resettable Dated Tier 2 Notes due 2068 (ISIN: XS1888925747) (the 2068 Notes and, together with the 2051 Notes, the 2055 Notes and the 2063 Notes, the Notes and each a Series) to tender their Notes for purchase by the Company for cash at prices to be determined by reference to respective purchase spreads determined pursuant to modified Dutch auctions (each an Offer and together the Offers). The Offers are being made on the terms and subject to the conditions contained in the Tender Offer Memorandum dated 10 June 2024 (the Tender Offer Memorandum) prepared by the Company for the Offers, and are subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum. Copies of the Tender Offer Memorandum are (subject to distribution restrictions) available from the Tender Agent as set out below.

Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum. 2051 Notes: Outstanding nominal amount: £750,000,000; First Optional Call Date: 20 October 2031; Coupon to First Optional Call Date: 5.625%; Maturity Date: 20 October 2051; Benchmark Security: 0.250% UK Treasury Gilt due 31 July 2031; 2055 Notes: Outstanding nominal amount: £600,000,000; First Optional Call Date: 20 July 2035; Coupon to First Optional Call Date: 5.560%; Maturity Date: 20 July 2055; Benchmark Security: 0.6255 UK Treasury Gilt due 31 July 2035; 2063 Notes: Outstanding nominal amount: £700,000,000; First Optional Call Date: 19 December 2043; Coupon to First Optional Call Date: 6.340%; Maturity Date: 19 December 2063; Benchmark Security: 4.750% UK Treasury Gilt due 22 October 2043; 2068 Notes: Outstanding nominal amount: £500,000,000; First Optional Call Date: 20 October 2048; Coupon to First Optional Call Date: 6.250%; Maturity Date: 20 October 2068; Benchmark Security: 1.500% UK Treasury Gilt due 22 July 2047. Rationale for the Offers: The Company is making the Offers as part of its proactive approach to managing its outstanding capital.

Notes purchased by the Company pursuant to the relevant Offer(s) will be cancelled and will not be re-issued or re-sold.