Announcement of early Redemption.

STANDARD LIFE PLC

(the "Issuer")

U.S.$500,000,000 Fixed Rate Reset Tier 2 Notes due 2031 (ISIN: XS2182954797)
(the "Notes"), of which U.S.$350,000,000 are currently outstanding

5 May 2026

Announcement of early redemption

Standard Life plc (formerly Phoenix Group Holdings plc) (the "Issuer") today gave notice to the holders of the outstanding Notes that, pursuant to Condition 6(c) of the terms and conditions of the Notes (the "Conditions") set out in Schedule 2, Part C, Part 3 to the trust deed dated 24 June 2019 (the "Trust Deed") between PGH Capital Public Limited Company, the Issuer and Citibank, N.A., London Branch (as Trustee), the Issuer has exercised its option to redeem all of the outstanding Notes on 4 June 2026 (the "Redemption Date") at their principal amount together with any accrued and unpaid interest to (but excluding) the Redemption Date.

Payment in respect of the Notes will be made through Euroclear Bank SA/NV and Clearstream Banking, S.A., in accordance with their standard procedures.

Pursuant to Condition 6(b), if the Notes cannot be redeemed on the Redemption Date due to any of the circumstances described in Condition 6(b), then the redemption of the Notes shall be suspended and shall occur only in accordance with Conditions 3(d), 6(b) and 6(i)(ii).

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

For further information:

Sally Campbell, Group Treasurer

+44 2045594751

Sally.Campbell@standardlife.com

Joanne Roberts, Investor Relations Director

+44 2045594673

Joanne.Roberts@standardlife.com

Legal Entity Identifier (LEI) Number: 2138001P49OLAEU33T68