Book size: 7000; Registration: Exempt; Comments: T+4.5;

Reoffer: 5yr: SOFR MS+32bp / 99.918 / 3.643% UST Reference: T 3¾ 31-Jan-31 @ 100-21⁶ / +4.5bp / HR 101% Final Book: Final book in excess of $7bn (excl. JLM interest) Launched: 5yr: US$2bn @ SOFR MS+32bp - Book in excess of US$7.4bn (excl. JLM interest) Guidance: 5yr: SOFR MS+33bp area IPTs: 5yr: SOFR MS+34bp area (currently equiv. T+7.5bp area) Issuer: African Development Bank (AFDB) Issue Rating: Aaa/AAA/AAA/AAA (Moody's/S&P/Fitch/Japan Credit Rating Agency) Format: Global SEC Exempt Size: US$2bn Maturity: 03-Mar-31 (5yr) Settlement: 03-Mar-26 (T+5) Coupon: 3.625%, Fixed, Semi-Annual, 30/360 Final Spread: SOFR MS (S/A, 30/360) +32bp UST Reference: +4.5bp vs. CT5 (T 3¾ 31-Jan-31) @ 100-21⁶ / HR 101% Reoffer: 99.918 / 3.643% Books: In excess of US$7.4bn (excl. JLM interest) Leads: BMO (DM/B&D) / BofA / Daiwa / JPM / Nomura ISIN: US008281BL07 Listing: Luxembourg Stock Exchange's Regulated Market Docs/Law/Denoms: Issuer's Global Debt Issuance Facility, English, US$1k Timing: Priced. TOE: 15:13 LDN / 16:13 CET / 10:13 ET. FTT immediately Target Market: The manufacturer target markets (MIFID II and UK MiFIR product governance) as assessed by the lead managers are Professional/Eligible Counterparties/Retail (all distribution channels) Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities