Book size: 5500; First Pay: 2027-02-11; Registration: Reg S Only; Comments: USD1.5bn 5yr cpn fxd 3.875% at 99.669, yld 3.949%. Spread: SOFR MS (SA, 30/360) +34bps. +8.0bps vs. CT5 (T 3 ¾ 01/31/31 @ 99-202 / HR 101%). LEI: 52990002O5KK6XOGJ020;

Reoffer: 5yr: SOFR MS+34bp / 99.669 / 3.911% s.a. / 3.949% ann. Benchmark: 5yr: T 3¾ 31-Jan-31 @ 99-20² / CT5+8bp / HR 101% Final book in excess of US$5.5bn (incl. US$350m JLM interest) Launched: 5yr: US$1.5bn @ SOFR MS+34bp - Book subject in excess of US$5.5bn (incl. US$350m JLM interest) Spread set at: 5yr: SOFR MS+34bp - Book in excess of US$4.9bn (incl. US$350m JLM interest) Guidance: 5yr: SOFR MS+36a - IOIs in excess of US$3.4bn (incl. US$350m JLM interest) IPTs: 5yr: SOFR MS+38a Issuer: NRW.Bank Ticker: NRWBK LEI: 52990002O5KK6XOGJ020 Guarantor: German Federal State of North Rhine-Westphalia Ratings: Aa1/AA/AAA/AAA (Moody's/S&P/Fitch/DBRS) (stable/negative/stable/stable) Format: Reg S only, Bearer, TEFRA D, No communication/sales with or into the US Size: US$1.5bn Settlement: 11-Feb-26 (T+5) Maturity: 11-Feb-31 (5yr) Reoffer: 99.669 / 3.911% s.a. / 3.949% ann. Spread: SOFR MS (SA, 30/360) +34bp UST Reference: +8bp vs. CT5 (T 3¾ 31-Jan-31 @ 99-20² / HR 101%) Coupon: 3.875%, Fixed, Annual, 30/360 Listing/Law: Luxembourg/German Denominations: US$2k Docs: Issuer's Debt Issuance Programme (alleviated prospectus dated 30-Apr-25, as supplemented by Supplement No. 1 dated 22-Jan-26) Target Market: Retail, Eligible counterparties and professionals (all distribution channels, EU MiFID II) Fees: Joint Bookrunners will be paid a fee in connection to the transaction Bookrunners: Barc / BMO(DM, B&D) / DB / JPM ISIN: XS3294947216 Timing: Priced. TOE: 15:20 LDN / 16:20 CET. FTT immediately Hedge Deadline: 14:40 LDN / 15:40 CET

German Federal State of North Rhine-Westphalia