Holding(s) in Company

Standard Form TR-1

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Irish Continental Group
2. Reason for the notification (please tick the appropriate box or boxes): [ ] An acquisition or disposal of voting rights [ ] An acquisition or disposal of financial instruments [ X ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:
3. Details of person subject to the notification obligationiv:
Name: Marathon Asset Management LLP		City and country of registered office (if applicable): London, UK
4. Full name of shareholder(s) (if different from 3.)v: See attached breakdown
5. Date on which the threshold was crossed or reachedvi: 29th January 2019
6. Date on which issuer notified: 30th January 2019
7. Threshold(s) that is/are crossed or reached: 6%
8. Total positions of person(s) subject to the notification obligation:
	% of voting rights attached to shares (total of 9.A)		% of voting rights through financial instruments (total of 9.B.1 + 9.B.2)	Total of both in % (9.A + 9.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	5.99		0	5.99	190,264,390
Position of previous notification (if applicable)	6.02		0	6.02

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rightsix					% of voting rights
	Direct			Indirect		Direct		Indirect
Ordinary Shares (IE00BLP58571)				11,389,054				5.99
SUBTOTAL A				11,389,054				5.99
B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations
Type of financial instrument		Expiration datex	Exercise/ Conversion Periodxi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
None
			SUBTOTAL B.1
B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations
Type of financial instrument	Expiration datex		Exercise/ Conversion Period xi		Physical or cash settlementxii		Number of voting rights			% of voting rights
None
					SUBTOTAL B.2

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.^xiii

[X] Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv:

Name^xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

William Arah

Jeremy Hosking

Neil Ostrer

Marathon Asset Management LLP

5.99

0

5.99

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional information^xvi:

Breakdown of Holdings:

Custodian	Nominal
Bank of New York Mellon	2,649,321
Brown Brothers Harriman	9,758
JP Morgan Chase	543,858
Northern Trust	6,407,084
Royal Bank of Canada	11,433
State Street Bank & Trust Company, Boston	7,148,324
Total	16,769,778

The shares referred to in this disclosure correspond to a number of funds and accounts managed by portfolio managers under the control of Marathon Asset Management LLP.  The provided breakdown of holdings refer to the total number of shares in Irish Continental Group controlled by Marathon Asset Management LLP but the firm only has authority to vote in connection with 11,389,054 shares.

Done at London on 30^th January 2019.