P NC 5.5: Book size: 5500; Redemption: 2028-04-16; Registration: Reg S Only; Comments: EUR1bn 2-tr hybrid PNC5.5/PNC8.5 bmk RegS. Baa3/BBB-/BBB-. BNPP(B&D NC8.5)/BofA/CA-CIB/Citi/DB/GS(B&D NC5.5)/HSBC/IMI/JPM/Miz/MS/MUFG/NatWest/Santan/SG/SMBC/Uni. IPTs 7.125% area (ann yields). Guidance 6.625% area for exp 1bn. Launch 1bn at 6.375% (coupons, tbp at par). Final books 5.5bn+, (peak 6bn+). With EUR/USD tender offer. Reset Date: 2028-07-16. Cleanup Call: 75%. Tax Call: Yes. MWC: Yes at B+65bp. LEI: WOCMU6HCI0OJWNPRZS33. Distribution: Uk/Irel 39%, Fr 16%, DACH 16%, It 8%, Benelux 7%, Nordic 7%, Iberia 3%, other 4%. FM 74%, PF/Ins 11%, bk/PB 10%, OI 4%, oth 1%; P NC 8.5: Book size: 6500; Redemption: 2031-04-16; Registration: Reg S Only; Comments: EUR750m part of 2-tr hybrid PNC5.5 bmk RegS. Baa3/BBB-/BBB-. BNPP(B&D NC8.5)/BofA/CA-CIB/Citi/DB/GS(B&D NC5.5)/HSBC/IMI/JPM/Miz/MS/MUFG/NatWest/Santan/SG/SMBC/Uni. IPTs 7.625% area (ann yields). Guidance 7% area for exp 750m. Launch 750m at 6.625% (coupons, tbp at par). Final books 6.5bn+ (peak 8bn+). With EUR/USD tender offer. Reset Date: 2031-07-16. Cleanup Call: 75%. Tax Call: Yes. MWC: Yes at B+70bp. LEI: WOCMU6HCI0OJWNPRZS33. Distribution: Uk/Irel 49%, DACH 14%, Fr 11%, Nordic 8%, Benelux 6%, It 6%, Iberia 2%, other 4%. FM 81%, PF/ins 5%, OI 4%, bk/PB 3%, oth 7%;

Hybrid Bond. Joint Bookrunners: BNP (B&D) (PNC8.5), GSC (B&D) (PNC5.5), BAM, CAG, CTI, DEU, HSB, IMI, JPM, MIZ, MOS, MUF, NTW, SNT, SOC, SMB, UNI

General Corporate Purposes