Slaughter and May advised Legal & General Group Plc on its issuance of £500,000,000 RT1 notes and concurrent tender offers for tier 2 and senior instruments

Slaughter and May advised Legal & General Group Plc (“L&G”) on the issuance of £500,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (the “RT1 Notes”). The RT1 Notes are convertible into ordinary shares of L&G upon the occurrence of certain conversion trigger events and are listed on the International Securities Market of the London Stock Exchange.

Concurrently, Slaughter and May advised L&G on the tender offers (the “Tender Offers”) of the outstanding US $850,000,000 Fixed Rate Reset Subordinated Notes due 2047 issued by L&G and four other series of sterling-denominated senior notes originally issued by Legal & General Finance PLC and guaranteed by L&G (together, the “Existing Notes”). The Tender Offers launched on 30 June 2026 and expired for acceptances on 7 July 2026. On 8 July 2026, L&G announced that it will accept for repurchase £499,999,175 in aggregate nominal amount of the Existing Notes.