Book size: 355; Registration: Reg S Only; Comments: GBP350m 4.5yr fxd cpn 4.25% at 99.687, yld 4.332%. Spread: MS+37bps. +21.5bps vs UKT 10/30 @ 84.65 (MID). LEI: 52990002O5KK6XOGJ020;

Reoffer: SONIA+37bp / 99.687 / 4.332% Benchmark: UKT 10/30 @ 84.65 / +21.5bp Spread set at: SONIA+37bp - Books in excess of £300m (excl JLM) Guidance: SONIA MS+37a Issuer: NRW.BANK LEI: 52990002O5KK6XOGJ020 Guarantor: Federal State of North Rhine-Westphalia (NRW) Rating: Aa1/AA/AAA/AAA (Moody's/S&P/Fitch/DBRS) Status: Senior unsecured, 0% RW, HQLA/Level 1 Format: Reg S, Bearer Size: £350m Maturity: 22-Oct-30 Settlement: 24-Mar-26 (T+5) Coupon: 4.25%, Fixed, Annual, Act/Act, short first Spread: SONIA MS (A, A/365) + 37bps Benchmark: +21.5bps vs UKT 10/30 @ 84.65 (MID) Reoffer: 99.687 / 4.332% (ANN) Denominations: £200k + £200k Listing: Luxembourg Governing Law: German Docs: Issuer's Debt Issuance Programme Bookrunners: CITI (B&D/DM), HSBC, NWM ISIN: XS3325330457 Target Market: The EU MiFID manufacturer target markets are eligible counterparties and professional clients (all distribution channels) Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The prospectus is available at https://www.bourse.lu/programme/Programme-NRWBank/12999 Timing: ToE 12:22 UKT, FTT immediately

Federal State of North Rhine-Westphalia