Book size: 3200; Registration: Reg S Only; Comments: EUR1.75bn 5yr cpn fxd 2.550% at 99.782, yld 2.597%. Spread: MS+12bps. +21.5bps vs OBL 2 1/2 04/16/31 @ 100.55% / HR 97%; Book size: 2100; Registration: Reg S Only; Comments: EUR1.25bn 15yr cpn fxd 3.350% at 99.756, yld 3.371%. Spread: MS+40bps. +24.40bps vs DBR 2.6 05/15/41 @ 93.70% / HR 101%;

Reoffer: 5yr: MS+12bp / 99.782 / 2.597% 15yr: MS+40bp / 99.756 / 3.371% Benchmark: 5yr: OBL 2.5 16-Apr-31 @ 100.55% / B+21.5bp / HR 97% 15yr: DBR 2.6 15-May-41 @ 93.70% / B+24.4bp / HR 101% Final Books: 5yr: €3.2bn+ (incl. €275m JLM) 15yr: €2.1bn+ (incl. €125m JLM) Launched: 5yr: €1.75bn @ MS+12bp - Book closed in excess of €3.3bn (incl. €275m JLM) 15yr: €1.25bn @ MS+40bp - Book closed in excess of €2.2bn (incl. €125m JLM) Spread set at: 5yr: MS+12bp 15yr: MS+40bp Book Update: 5yr: €3.3bn+ (incl. €275m JLM) 15yr: €1.5bn+ (incl. €125m JLM) IPTs: 5yr: MS+14a 15yr: MS+40a Issuer: German State of North Rhine-Westphalia (Land NRW) Ticker: NRW Ratings: Aa1/AA/AAA/AAA (Moody's/S&P/Fitch/Scope) Format: Senior, Unsecured, Reg S, Bearer, Collective Debt Register Claim Size: 5yr: €1.75bn 15yr: €1.25bn Ranking: Senior Unsecured Settlement Date: 11-Mar-26 (T+5) Maturity Date: 5yr: 11-Mar-31 15yr: 11-Mar-41 Reoffer: 5yr: 99.782% / MS+12bp / 2.597% 15yr: 99.756% / MS+40bp / 3.371% Benchmark: 5yr: +21.5bp vs OBL 2.5 16-Apr-31 @ 100.55% / HR 97% 15yr: +24.4bp vs DBR 2.6 15-May-41 @ 93.70% / HR 101% Coupon: 5yr: 2.550% Fixed, Annual, Act/Act ICMA 15yr: 3.350% Fixed, Annual, Act/Act ICMA ISIN/WKN: 5yr: DE000NRW0QG9 / NRW0QG 15yr: DE000NRW0SG5 / NRW0SG TOE: 5yr: 14:24 UKT / 15:24 CET 15yr: 14:23 UKT / 15:23 CET Denominations: €1k + €1k Docs: Off Issuer's Debt Issuance Programme dated 10-Sep-25 Listing: Regulated Market, Duesseldorf Governing Law: German Law Target Market: Professional, retail and eligible counterparties each as defined in MiFID II /UK MiFIR (all channels for distribution of the bonds are appropriate). ICMA/FCA stabilisation applies. Fees: The banks will be paid a fee in relation to this transaction Lead Managers: BofA Securities (B&D/DM), Credit Agricole CIB, DekaBank, Goldman Sachs Bank Europe SE, NatWest, TD Securities Timing: PRICED – FTT immediately