All Tesco colleagues who have completed at least three months’ continuous service by 16 October 2020.

The Option Price for the 2020 scheme will be on this guide, posters and on OurTesco.ie from Friday 15 October.

Your savings will be taken from your pay after tax every four weeks, starting in February 2021.

Deductions will stop from your pay in November 2023 and September 2025 for the three year and five year schemes respectively, dependant on tax weeks and the payroll cycle.

No, once the invitation has closed you won’t be able to reduce or increase the amount. You will however be able to cancel the scheme if you no longer wish to save into the scheme and your savings will be returned to you. You can also take a savings holiday if you need to.

At the end of your savings contract you will have the following options:

Option 1) Take cash

You can take the cash you have saved. There are no income tax, Universal Social Charge (“USC”) or Pay Related Social Insurance (“PRSI”) implications should you choose to take cash.

Option 2) Sell shares acquired

Should you subsequently decide to sell the shares, you may be subject to capital gains tax if the gain/profit on all disposals in any one tax year is more than €1,270. The current capital gains tax rate is 33%. Should this apply, you will be responsible for reporting and paying the capital gains tax to the Irish Revenue. You will be responsible for reporting and payment of all taxes through the self-assessment system, this will also apply if you leave Tesco and are able to buy a reduced number of shares at the Option Price.

For the five year scheme the tax-free bonus is 0.5 x your four-weekly contribution. There is no tax-free bonus on either the three or five year scheme.

The maximum number of shares is determined by your savings, the Option Price and the exchange rate at the time of the grant.

If the Euro weakens you can use all the funds saved plus bonus (if applicable) to buy shares. This will be less than the maximum number of shares over which your option was granted.

If the Euro strengthens, you can acquire up to a maximum number of shares over which your option was granted. The excess savings will be refunded to you.

For more information please go to colleague-help.ourtesco.com. Alternatively, you can call the Tesco Shares Helpline on +44 121 415 0266*.

*Please note that standard rates apply.

In making an application, you’re applying to join the SAYE scheme which is run in accordance with the scheme rules on which we intend to rely. Full terms and conditions, Bank Prospectus and the Financial Services Compensation Scheme Information Sheet and Exclusions list referred to have been made available on www.shareview.co.uk/clients/tescoireland. These form the basis on which Equiniti services will be provided to you. For your own benefit you should read these terms carefully before giving an application instruction. If you do not understand any point please call +44 121 415 0266*. You understand that if this declaration is untrue in any respect any interest or bonus payable under the plan will be forfeited. By applying to join the scheme you acknowledge that you have read the Financial Services Compensation Scheme Information Sheet and Exclusions list.

If you would like to receive a copy of this brochure in an alternative format, for example Braille or audio tape, please contact Equiniti on +44 121 415 0266*.

*Please note that standard rates apply.