How are Euribor interest rates calculated with various banks?

I have taken out a commercial loan with AIB, the base rate is linked to Euribor 3 month. See as follows T+C:

The interest rate on this loan is made up of an agreed interest margin plus a base lending rate. The agreed interest margin is outlined in the Credit Agreement. Our base lending rate is determined by calculating the 3 month EURIBOR (Euro Interbank Offered Rate) reflecting a daily average of this rate over the previous 3 months and is updated weekly.

https://aib.ie/our-products/loans/standard-business-loan-QandA

I would take the above as the average over the pervious three months but I started tracking it and it was not matching up with what was posted to the loan. I queried this and I received the following reply:

The Euribor 3 month doesn’t include weekends & to achieve an accurate three month average the Euribor setting from every Friday should be included for Saturday & Sunday. AIB’s Base Lending rate is also quoted on a 365 day basis whereas Euribor is quoted on a 360 day basis. To achieve the equivalent BLR rate requires the average Euribor rate to be divided by 360 & multiplied by 365.

Does the above make sense? It looks to me like the calculation of the base rate is different to what is advised in the T+C and unless their is negitive Euribor interest rates it will result in a higher margin for the bank.