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 attached ⁱⁱ :

Ryanair Holdings Plc

2. Reason for the notification (please tick the appropriate box or boxes):

[ ] An acquisition or disposal of voting rights

[x] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ ] Other (please specify)ⁱⁱⁱ:

3. Details of person subject to the notification obligation ^iv :

Name:

Parvus Asset Management Europe Limited

City and country of registered office (if applicable):

London, United Kingdom

4. Full name of shareholder(s) (if different from 3.)^v:

Parvus Asset Management Europe Limited has been appointed as Investment Manager to a number of funds. Under the terms of the various investment management agreements, Parvus Asset Management Europe Limited holds the power to vote any physical shareholdings held by these clients.

5. Date on which the threshold was crossed or reached ^vi :

22 July 2024

6. Date on which issuer notified:

24 July 2024

7. Threshold(s) that is/are crossed or reached:

Going below 7% of voting rights (by way of equity swaps).

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 issuer^vii

Resulting situation on the date on which threshold was crossed or reached

0%

6.998%

6.998%

1,128,914,013

Position of previous notification (if applicable)

0%

8.028%

8.028%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii :

A: Voting rights attached to shares

Class/type of
shares

ISIN code (if possible)

Number of voting rights ^ix

% of voting rights

Direct

Indirect

Direct

Indirect

SUBTOTAL A

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations 

Type of financial instrument

Expiration
date ^x

Exercise/
Conversion Period ^xi

Number of voting rights that may be acquired if the instrument is exercised/converted.

% of voting rights

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
date ^x

Exercise/
Conversion Period ^xi

Physical or cash settlement ^xii

Number of voting rights

% of voting rights

Equity Swap

31/07/2024

N/A

Cash

16,743

0.001%

Equity Swap

02/09/2024

NA

Cash

822,451

0.073%

Equity Swap

09/09/2024

NA

Cash

33,416,825

2.960%

Equity Swap

13/01/2025

NA

Cash

46,003

0.004%

Equity Swap

03/07/2025

NA

Cash

35,083,528

3.108%

Equity Swap

26/11/2025

NA

Cash

19,241

0.002%

Equity Swap

05/01/2026

NA

Cash

1,211,429

0.107%

Equity Swap

20/04/2026

NA

Cash

7,946,152

0.704%

Equity Swap

18/05/2026

NA

Cash

440,513

0.039%

SUBTOTAL B.2

79,002,885

6.998%

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

Edoardo Mercadante

N/A

6.998%

6.998%

Parvus Asset Management (Cayman) Limited

N/A

6.998%

6.998%

Parvus Asset Management Limited

N/A

6.998%

6.998%

Parvus Asset Management Europe Limited

N/A

6.998%

6.998%

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

N/A

12. Additional information ^xvi :

One of the funds under management, Parvus European Opportunities Master Fund, individually crossed below 3%, holding 31,827,789 equity swaps representing 2.819% of the total voting rights.