Book size: 400; First Pay: 2026-03-16; Registration: Reg S Only; Comments: GBP250m 3.25yr fxd cpn 4.125% at 99.733, yld 4.219%. Spread: SONIA MS+65. UKT 0.5 01/31/29 (mid: 90.958, bid: 90.938); HR 108%. LEI: EZKODONU5TYHW4PP1R34;

Reoffer: 3yr: SONIA+65bp / 99.733 / 4.219% Benchmark: 3yr: UKT 0.5 31-Jan-29 @ 90.958 / HR 108% Peak Book: Books £400m+ (incl £25m JLM) Launched: 3yr: £250m @ SONIA+65bp - Books £400m+ (incl £25m JLM) Guidance: 3yr: SONIA+65a Issuer: Aareal Bank AG Issue Rating: Aaa (Moody’s) Issuer Ratings: Baa1/BBB (Moody’s/Fitch) LEI: EZKODONU5TYHW4PP1R34 Type of Pfandbriefe: Mortgage Pfandbriefe (the “Notes”) Security Format: New Global Note (NGN), Reg S, Bearer, TEFRA C To be kept in custody by Clearstream Banking Luxembourg/Euroclear, in a manner which would allow Eurosystem eligibility Issue Size: £250m Final Spread: SONIA mid-swap (A, A/365) + 65bps Reoffer: 99.733% / 4.219% s/a Coupon: 4.125 % semi-annually, Fixed, accruing from and including the Settlement Date and excluding the Maturity Date. Benchmark: UKT 0.5 31-Jan-29 (mid: 90.958, bid: 90.938); HR 108% Coupon Payment Dates: March and September in each year, commencing on 16-Mar-26 (short first) Day Count Fraction: Actual / Actual, ICMA Pricing Date: 04-Feb-26 Settlement Date: 11-Feb-26 Maturity Date: 16-Mar-29 Denominations: £100,000 + increments of £100,000 excess thereof Documentation: Aareal Bank’s EUR 25bn Debt Issuance Programme, dated 13-Jun-25, and any subsequent supplements thereto Advertisement: The Prospectus and its Supplements are available at https://www.aareal-bank.com/en/investors-portal/debt-investors/debt-issuance-programme/prospectus and the Final Terms, when published, will be available on the webpage of the Luxembourg Stock Exchange Redemption: 100.00% Business Day Convention: Following, Unadjusted basis Business Days: London, T2 ISIN: XS3293865625 Common Code: 329386562 Listing: Luxembourg Stock Exchange (regulated market) Governing Law: German Billing & Delivery: BMO Capital Markets Target Market: Eligible counterparties and professional clients (all distribution channels), each as defined in MiFID II Bookrunners: BMO Capital Markets and Nomura Timing: Priced, ToE 13:05 LDN, FTT 13:25