Erste Group Bank: intends to repurchase EUR 500,000,000 7.125 per cent Fixed Rate Subordinated Notes due 2022 (ISIN: XS0840062979)

Vienna (pta005/18.11.2019/09:25 UTC+1) Erste Group Bank AG ("Erste Group") will publish today an invitation to holders (the "Holders") of its EUR 500,000,000 7.125 per cent Fixed Rate Subordinated Notes due 2022 (ISIN: XS0840062979) (the "Notes") to tender any and all of their Notes for purchase by Erste Group for cash, at 120.441 per cent, with a settlement date on or around 27 November 2019 (the "Tender Offer").

The Tender Offer is made exclusively on the basis of a tender offer memorandum dated 18 November 2019 (the "Tender Offer Memorandum"), copies of which are available to Holders on their request from the Tender Agent. The Tender Offer will begin on 18 November 2019 and will expire at 5:00 p.m. (CET) on 25 November 2019, unless amended, extended, re-opened and/or terminated as provided in the Tender Offer Memorandum. Instructions to participate in the Tender Offer are to be submitted in accordance with the provisions of the Tender Offer Memorandum to Lucid Issuer Services Limited as the tender agent (the "Tender Agent"). Any Notes tendered by the Holders can be rejected at the sole discretion of Erste Group.

Furthermore, Erste Group intends, depending on market conditions, to issue a new series of euro denominated Tier 2 subordinated fixed rate reset notes under its EUR 30,000,000,000 Debt Issuance Programme dated 10 May 2019.

Disclaimer:
Neither the Tender Offer Memorandum nor this announcement constitutes an offer to buy or a solicitation of an offer to sell any notes or any other securities issued by Erste Group in or from any jurisdiction in which the submission of such an offer or such an invitation to submit an offer or in which the submission of an offer by or to certain persons is prohibited. Holders of Notes who are outside of the Republic of Austria and who come into possession of this communication and/or the Tender Offer Memorandum and/or who wish to make an offer to sell the Notes from outside the Republic of Austria are required to inform themselves about the relevant legal provisions in connection therewith and to comply with these provisions. Neither Erste Group nor the Tender Agent nor any of the Joint Dealer Managers assumes any liability whatsoever in connection with the submission of an offer to sell notes from outside the Republic of Austria.

This announcement is mandatory pursuant to Art 17 of the Market Abuse Regulation. It does not constitute financial analysis or advice relating to financial securities. This announcement is neither a recommendation nor an offer, invitation or solicitation to purchase or sell any securities of Erste Group.

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, FRANCE, ITALY, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT OR TO ANY U.S. PERSON OR ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, FRANCE, ITALY, THE UNITED KINGDOM OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT

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Emitter:	Erste Group Bank Am Belvedere 1 1100 Wien Austria
Contact Person:	Thomas Sommerauer/ Simone Pilz
Phone:	+43 (0)5 0100 - 17326
E-Mail:	thomas.sommerauer@erstegroup.com
Website:	www.erstegroup.com
ISIN(s):	AT0000652011 (Share)
Stock Exchange(s):	Vienna Stock Exchange (Official Trade)
Other Stock Exchanges:	Bucharest Stock Exchange, Prague Stock Exchange