Book size: 610; Registration: Reg S Only; Comments: EUR500m 7.5yr cpn fxd 2.875% at 99.869, yld 2.894%. Spread: MS+23bps. + 31.8bps vs DBR 2.3 02/15/33 (DE000BU2Z007) @ 98.26% / HR: 103%. LEI: 52990063ADNRF9GBTQ30;

Reoffer: Long 7yr: MS+23bp / 99.869 / 2.894% Benchmark: Long 7yr: DBR 2.3 15-Feb-33 @ 98.26% / B+31.8bp / HR: 103% Final Book: Long 7yr: €500m @ MS+23bp - Books above €610m (incl. €100m JLM interest) Launched: Long 7yr: €500m @ MS+23bp - Books above €550m (incl. €75m JLM interest) Guidance: Long 7yr: MS+23bp area Issuer: Investitionsbank Schleswig-Holstein (IBBSH) Ticker: IBBSH LEI: 52990063ADNRF9GBTQ30 Guarantor: Federal State of Schleswig-Holstein (rated AAA by Fitch) Format: Reg S Bearer (0% rw, senior unsecured, LCR Level 1) Issuer Rating: AAA (Fitch), Prime Status (C) (ISS ESG) Size: €500m Coupon: 2.875%, Fixed rate, annual, act/act ICMA, first long coupon Maturity: 20-May-33 Settlement: 10-Mar-26 (T+5) Reoffer: MS+23bp / 2.894% / 99.869 Benchmark: +31.8bp vs DBR 2.3 15-Feb-33 (DE000BU2Z007) @ 98.26% / HR: 103% Law/Listing/Denominations: German / Hamburg / €100k+100k ISIN: DE000A4DFT66 WKN: A4DFT6 Joint Leads: Commerzbank (B&D), DekaBank, DZ Bank, LBBW, Nord/LB Fees: The Joint Bookrunners will be paid a fee in connection to the transaction Target Market: Professional clients, eligible counterparties (all distribution channels are appropriate) Timing: Priced TOE: 13:07 CET, FTT 13:25 CET

Federal State of Schleswig-Holstein