Commentary & Deal Flow

SoftBank Group Corp (9984 JT listed on the TSE), rated BB+ (stable) by S&P, has mandated Deutsche Bank, J.P. Morgan and Morgan Stanley as Joint Global Coordinators, and HSBC, BNP PARIBAS, Barclays and Goldman Sachs International as Active Bookrunners for USD notes, and Deutsche Bank and BNP PARIBAS as Joint Global Coordinators for EUR notes to arrange a series of investor calls in Asia and Europe commencing on October 21th, 2025. Deutsche Bank is coordinating logistics. A NetRoadshow presentation will be made available.

Benchmark-sized Reg S registered form (Category 2) USD 35.5NC5.5 and 40NC10 subordinated resettable notes, and EUR 37NC7 subordinated resettable notes will follow, subject to market conditions. The notes are rated B+ (stable) by S&P. FCA/ICMA stabilization applies. UOP: general corporate purpose s including investments for AI and repayment of borrowings. Biz: a diversified global investment holding company with holdings in telecom, e-commerce, internet advertising and other sectors. HQ: Tokyo, Japan. Pricing is expected as early as tomorrow.

FINAL LINK: www.netroadshow.com/nrs/home/#!/?show=0901d888 (Recommended). Or, Visit www.netroadshow.com and enter the requested deal entry code: TechForce2025.