Raiffeisen Bank International AG

Capital/Financing Update • Sep 3, 2019

DGAP-Ad-hoc:Raiffeisen Bank InternationalAG/ Keyword(s): Miscellaneous

Raiffeisen Bank InternationalAG:RBI intends to repurchase from qualifying holders anyand all of the EUR500,000,000 Subordinated Callable Fixed Rate ResetNotes due February2025 (ISIN: XS1034950672)

03-Sep-2019 / 13:24 CET/CEST

Disclosure of an inside information acc. toArticle 17 MARof the Regulation (EU) No 596/2014, transmitted byDGAP- a service of EQS GroupAG.

The issuer is solelyresponsible for the content of this announcement.

RBI intends torepurchase fromqualifyingholders anyandall of the EUR500,000,000 SubordinatedCallable FixedRate Reset Notes due February2025 (ISIN:XS1034950672)

Vienna, 3 September 2019.Raiffeisen Bank InternationalAG("RBI" or the "Issuer") is inviting todayqualifying holders ("Qualifying Holders") of its EUR500,000,000 Subordinated Callable Fixed Rate ResetNotes due February2025 (ISIN: XS1034950672) issued on 21 February2014 to make offers to sell to RBI anyand all of such notes at a repurchase yield (including anypossible accrued interest, if any) of minus 0.15%equivalent to a repurchase price of 102.054 per cent. (EUR102,054 for each EUR100,000 in principal amount), assuming a settlement date of 13 September 2019 (the "Tender Offer").

The TenderOffer is made exclusivelybymeans and on the basis of a tender offer memorandum of the Issuer dated 3 September 2019 (the "Tender Offer Memorandum"), paper copies ofwhich will be made available on demand free of charge toQualifying Holders eligible to participate in the TenderOffer, at the office ofRBI atAm Stadtpark 9, 1030 Vienna,Austria, during normal business hours,within the TenderOffer Period (as defined below). The TenderOffer will begin on 3 September 2019 and will expire at 5 p.m. (CET) on 11 September 2019, (the "Tender Offer Period") unless amended, extended, re-opened and/or terminated as provided in the TenderOffer Memorandum. Instructions to participate in the TenderOffer should be submitted according the TenderOffer Memorandum to the tender agent (the "Tender Agent").Anynotes tendered bytheQualifying Holders can be rejected at the sole discretion ofRBI for anyreason whatsoever.RBI is under no obligation to justifyanysuch rejection of such offers to theQualifying Holders of the notes.

Furthermore,RBI intends, depending on market conditions, to issue subordinated callable fixed-to-fixed rate reset notes (the "Notes"). The completion of the TenderOffer will depend on the successful completion (in the sole determination ofRBI) of the issue byRBI of the Notes.

Neither the TenderOffer Memorandum nor this announcement constitutes an offer to buyor a solicitation of an offer to sell anynotes issued byRBI in or from anyjurisdiction in which the submission of such an offer or such an invitation to submit an offer or in which the submission of an offer byor to certain persons is prohibited.Qualifying Holders of notes who are outside of the Republic ofAustria and who come into possession of this communication and/or the TenderOffer Memorandum and/or who wish to make an offer to sell notes from outside the Republic ofAustria are required to inform themselves about the relevant legal provisions in connection therewith and to complywith these provisions.Neither RBI nor the TenderAgent nor anyDealer Manager assumes anyliabilitywhatsoever in connection with the submission of an offer to sell notes from outside the Republic ofAustria.

This announcement is mandatorypursuant toArt 17 of the MarketAbuse Regulation (the " MAR"). 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 anysecurities ofRBI and is not for release, publication or distribution in or into the United States ofAmerica or in or intoAustralia, Belgium,Canada, Luxembourg, France, Italy, Japan, the United Kingdom or anyother jurisdiction where it is unlawful to publish or distribute this document.

This announcement is addressed exclusivelyto persons legallyentitled to receive it. In particular, it is not addressed to U.S. citizens or people resident in the United States ofAmerica,Australia, Belgium,Canada, Luxembourg, France, Italy, Japan, the United Kingdom. This announcement is not for publication or distribution in the United States ofAmerica and maynot be distributed to U.S. persons or publications generallydistributed in the United States ofAmerica nor be published or distributed in anyother countryin which its publication or distribution would be contraryto the law.

For more information, please contact:

John P.Carlson,CFA Group Investor Relations Raiffeisen Bank InternationalAG Am Stadtpark 9 1030 Vienna,Austria ir@rbinternational.com phone: +43-1-71-707-2089 www.rbinternational.com

THEINFORMATIONCONTAINEDINTHISANNOUNCEMENTISNOTFORPUBLICATIONORDISTRIBUTION,DIRECTLYORINDIRECTLY, INOR INTOTHEUNITEDSTATES,AUSTRALIA,BELGIUM,CANADA, FRANCE, ITALY, LUXEMBOURG, JAPAN, THEUNITEDKINGDOMORANY OTHERJURISDICTIONWHEREITISUNLAWFULTODISTRIBUTETHISDOCUMENTORTOANYU.S. PERSONORANYPERSONLOCATED ORRESIDENTINTHEUNITEDSTATES,AUSTRALIA,BELGIUM,CANADA, LUXEMBOURG, FRANCE, ITALY, JAPAN, THEUNITEDKINGDOM ORANYOTHERJURISDICTIONWHEREITISUNLAWFULTODISTRIBUTETHISDOCUMENT

03-Sep-2019 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases. Archive atwww.dgap.de

Language: English Company: Raiffeisen Bank InternationalAG Am Stadtpark 9 A-1030 Vienna Austria Phone: +43-1-71707-2089 Fax: +43-1-71707-2138 E-mail: ir@rbinternational.com Internet: www.rbinternational.com ISIN: AT0000606306 WKN: A0D9SU Listed: Foreign Exchange(s) Luxembourg Stock Exchange, SIX, Vienna Stock Exchange (Official

Market) EQSNews ID: 867633

End ofAnnouncement DGAPNews Service