Book size: 119000; First Pay: 2026-10-31; Registration: 144A/Reg S; Comments: EUR7bn 30yr cpn fxd 3.95% at 99.491, yld 3.98%. Spread: SPGB 4 10/31/54 (mid 101.167 / 3.930%) + 5bps / HR 102%;

Reoffer: 30yr: SPGB+5bp / 99.491 / 3.980% Benchmark: 30yr: SPGB 4 31-Oct-54 @ 101.167 / 3.930% / HR 102% Final Books: Closed in excess of €115bn pre-rec (incl. €5.95bn JLM interest) Launched: 30yr: €7bn @ SPGB+5bp - Order book closed in excess of €115bn pre-rec (incl. €5.95bn JLM interest) Guidance: 30yr: SPGB+8bp area Issuer: The Kingdom of Spain Issuer Ratings: A+/A/A3/AH/A (stab/stab/stab/stab/pos) (S&P/Fitch/Moody's/DBRS/Scope) Format: Obligaciones del Estado (in dematerialised book entry form), Reg S Cat 1, 144A eligible, CACs Size: €7bn Maturity: 31-Oct-56 Settlement: 03-Mar-26 (T+5) Coupon: 3.950% fixed annual ACT/ACT, short first to 31-Oct-26 Spread: SPGB 4 31-Oct-54 (mid 101.167 / 3.930%) + 5bp / HR 102% Reoffer: 99.491 / 3.980% Denom/Listing/Law: €1k+1k / Madrid (AIAF Mercado Renta Fija) / Spanish Law Docs: Exempt from prospectus requirements in Spain. Spanish public debt tax regime. No events of default. No tax gross-up. Target Market: Retail / Professional / Eligible Counterparties (all distribution channels) ISIN: ES0000012R56 Bookrunners: BNPP/Citi/CACIB/DB/GSBE SE/HSBC(B&D/DM) Timing: TOE: 15:27 CET / 14:27 UKT / FTT Immediately