Documentation for Phoenix Group Holdings Plc on our Euro Medium Term Note Programme and Bond Issuance

Bond Issuance Documentation

Final terms £350,000,000 7.750 per cent. Fixed Rate Reset Tier 2 Notes due 2053

Final terms U.S.$500,000,000 4.750 per cent, Fixed Rate Reset Tier 2 Notes due 2031

Final terms £500,000,000 5.625 per cent. Tier 2 Notes due 2031

Final terms U.S.$750,000,000 5.625 per cent, Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes

Terms and Conditions

Terms and Conditions £250,000,000 Fixed rate reset callable Tier 2 Subordinated Notes due 2029

Terms and Conditions £500,000,000 5.867 per cent Tier 2 Subordinated Notes due 2029

Terms and Conditions £250,000,000 4.016 per cent Tier 3 Subordinated Notes due 2026

Offering Memorandum - 27 January 2020 - U.S.$750,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes

Final terms €500,000,000 4.375 per cent, Tier 2 Notes due 2029

Terms and Conditions

Prospectus - 24 April 2018 - £500,000,000 5.750 per cent, Fixed Rate Reset Perpetual Restricted Tier 1 Write Down Notes

Terms and Conditions

Amended and Restated Trust Deed for £500m Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes

Final Terms $500,000,000 5.375 per cent, Tier 2 Notes due 2027

Terms and Conditions

Final Terms £150,000,000 4.125 per cent, Tier 3 Notes due 2022

Final Terms £300,000,000 4.125 per cent, Tier 3 Notes due 2022

Terms and Conditions

Prospectus - 21 January 2015 - £428,113,000 6.625 per cent Guaranteed Subordinated Notes due 2025

Prospectus - 3 July 2014 - £300,000,000 5.75 per cent. Bonds due 2021

Terms and Conditions