Commentary & Deal Flow

Rev Guidance: 3yr:MS+73-75 WPIR 7yr:MS+88-90 WPIR 10yr:MS+108-110 WPIR
Tranche 2 & 3 books north of CHF 250m each

Guidance: 3yr:MS+75bp area 7yr:MS+90bp area 10yr:MS+110bp area
IPTs: 3yr:MS+70/80bp 7yr:MS+85/95bp 10yr:MS+105/115bp

• Issuer: Mondelēz International, Inc.
• Ticker: MDLZ
• Issuer Domicile: United States of America
• Domestic / Foreign: Foreign
• Format: Public Fixed-Rate Bonds
• Ranking: Senior, unsecured
• Issuer Rating: Baa1 (stable) / BBB (stable) (Moody's/S&P)
• Instrument Rating (exp): Baa1 / BBB (Moody's/S&P)
• Issue Size:
• • Tranche 1 (2029): Min. CHF 300m
  • Tranche 2 (2032): Min. CHF 200m
  • Tranche 3 (2036): Min. CHF 200m
• Coupon:
• • Tranche 1 (2029): 0.990% p.a. (indicative, will price at par) (30/360, preceding unadj.)
  • Tranche 2 (2032): 1.304% p.a. (indicative, will price at par) (30/360, preceding unadj.) (Short first coupon)
  • Tranche 3 (2036): 1.658% p.a. (indicative, will price at par) (30/360, preceding unadj.)
• Maturity:
• • Tranche 1 (2029): 3 years (10-Apr-26 to 10-Apr-29)
  • Tranche 2 (2032): 6.6 years (10-Apr-26 to 10-Nov-32)
  • Tranche 3 (2036): 10 years (10-Apr-26 to 10-Apr-36)
• Spread/Yield:
• • Tranche 1 (2029): SARON MS +75.0 area // YTM 0.9900% area // Govt + 84.8 area
  • Tranche 2 (2032): SARON MS +90.0 area // YTM 1.3038% area // Govt + 102.2 area
  • Tranche 3 (2036): SARON MS +110.0 area // YTM 1.6575% area // Govt + 129.4 area
• Lead Manager(s): BNP Paribas, Commerzbank, Deutsche Bank, Goldman Sachs International
• SNB Repo-eligibility: At the discretion of the SNB, expected no
• Documentation: Standalone
• Early Redemption: 1-month Par Call on Tranche 1, 3-month Par Call on Tranche 2 and 3, Clean-up Call at 85% at Par, Tax Call
• FinSA Prospectus: Preliminary prospectus available in accordance with art. 51(2) FinSA
• Governing Law: Swiss law
• Covenants: Pari passu clause, negative pledge (limitations on liens), default provisions and change of control clause, each as further described in the Terms of the Bonds
• Use of Proceeds: General corporate purposes, including the repayment of debt
• SIX Listing: 08-Apr-26
• Denomination: CHF 5,000 and multiples thereof
• Selling Restrictions: In particular United States of America and U.S. Persons, European Economic Area and United Kingdom
• Target Market: As defined by the manufacturers domiciled in the EEA and UK (MIFID II/UK MIFIR): Eligible counterparties, professional clients and retail clients in Switzerland only (all channels for distribution), subject to applicable selling restrictions.
• Schedule: Books to close at 11:40am CET, pricing to follow shortly thereafter
• Settle: 10-Apr-26