3 May 2024

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SENIOR NOTEHOLDERS. IF SENIOR NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000, AS AMENDED (IF THEY ARE LOCATED IN THE UNITED KINGDOM), OR FROM OTHER APPROPRIATELY AUTHORISED INDEPENDENT PROFESSIONAL ADVISERS (IF THEY ARE LOCATED OUTSIDE OF THE UNITED KINGDOM).

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE SENIOR NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF TO BENEFICIAL OWNERS OF THE SENIOR NOTES IN A TIMELY MANNER. IF BENEFICIAL OWNERS OF THE SENIOR NOTES ARE IN ANY DOUBT AS TO THE MATTERS REFERRED TO IN THIS NOTICE, THEY SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER WITHOUT DELAY.

If you have recently sold or otherwise transferred your entire holding(s) of Senior Notes referred to below, you should immediately forward this notice to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

THIS ANNOUNCEMENT MAY CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (AS AMENDED) ("EU MAR") AND REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("EUWA") AND AS FURTHER AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 ("UK MAR" AND, TOGETHER WITH EU MAR, "EU/UK MAR").

PPC ZEUS DESIGNATED ACTIVITY COMPANY

(a designated activity company incorporated with limited liability in Ireland under registered number 671216)

(the "Issuer")

NOTICE OF BREACH

to the holders of

€325,020,000 Fixed Rate Asset Backed Notes due 2028 (ISIN: XS2269203316)

(the "Senior Notes")

This announcement is released by the Issuer and may contain inside information for the purposes of Article 7 of EU/UK MAR, encompassing information relating to the Senior Notes described above. For the purposes of EU/UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, including as it forms part of UK domestic law by virtue of EUWA, this announcement is made by the Directors of the Issuer.

We refer to: (i) the note trust deed dated 9 April 2021 as amended and restated on 27 July 2023, constituting the Senior Notes and made between the Issuer and Citibank N.A., London Branch (as "Note Trustee") (the "Note Trust Deed"), (ii) the master definitions and framework deed dated 9 April 2021 as amended on 23 June 2021, 22 June 2023, 21 July 2023 and as further amended and restated on 27 July 2023 and made between, among others, the Issuer and Citibank N.A., London Branch (as Note Trustee and as "Security Trustee") (the "Master Definitions and Framework Deed") and (iii) the English law security deed dated 9 April 2021 entered into between the Issuer and the Security Trustee (the “English Law Security Deed”). Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in the Note Trust Deed, Master Definitions and Framework Deed and/or the English Law Security Deed.

The Issuer hereby provides notice of its breach of paragraph 1.2(a) of Part 1 of Schedule 4 to the Master Definitions and Framework Deed as covenanted to the Note Trustee pursuant to Clause 14 of the Note Trust Deed and as covenanted to the Security Trustee pursuant to Clause 23.2 of the English Law Security Deed by virtue of the failure to deliver to the Note Trustee and the Servicer by 31 December 2023 two copies of the Issuer’s audited financial statements for (i) the financial period ending 31 December 2021 and (ii) the financial period ending 31 December 2022. The Issuer has given notice of the breach to the Note Trustee, Security Trustee, Servicer and Sub-Servicer in accordance with the relevant Transaction Documents. The Issuer also hereby provides notice that the condition to the conditional waiver of the Financial Information Breach (as defined in the July 2023 Deed of Amendment and Restatement) as set out in Clause 12(e) of the July 2023 Deed of Amendment and Restatement  has not been satisfied by virtue of the failure to deliver to the Note Trustee and the Servicer by 31 December 2023 two copies of the Issuer’s audited financial statements for (i) the financial period ending 31 December 2021 and (ii) the financial period ending 31 December 2022.

The Issuer expects that the audit of the aforementioned financial statements will be finalised no later than 31 July 2024 and, to that end, continues to liaise with the Servicer and the Issuer’s auditors to finalise the relevant audits. In the meantime, the Issuer intends to seek a waiver in respect of the delay. While additional time is required to finalise the audit of the financial statements, the Issuer is satisfied that the delay does not relate to any underlying issue regarding the financial position of the Issuer.

This notice does not constitute an offer to sell or the solicitation of an offer to subscribe for or otherwise acquire any securities in any jurisdiction.

No person has been authorised to give information, or to make any representation in connection therewith, other than as contained herein. The delivery of this notice at any time does not imply that the information in it is correct as at any time subsequent to its date.

For further information, please contact the Issuer at the address below.

PPC ZEUS DESIGNATED ACTIVITY COMPANY

Fourth Floor

3 George's Dock

IFSC

Dublin 1 Ireland

Attention: The Directors

Email: Ireland@wilmingtontrust.com

Tel: +353 1 6125550

PPC ZEUS DESIGNATED ACTIVITY COMPANY

End of Inside Information