Commentary & Deal Flow

Reoffer: 5.5yr: MS+40bp / 99.993 / 3.254%
Benchmark: 5.5yr: DBR 0 15-Aug-31 TWIN @ 86.754 / B+56.6

Final book €1.25bn+

Launched: 5.5yr: €750m @ MS+40bp - Books €1.2bn+ (Inc 75m JLM)
Book Update: Books above €1bn+ (incl. €75m JLM)
Guidance: 5.5yr: MS+44a

• Issuer: Komerční banka, a.s.
• Ticker: KOMERC
• LEI: IYKCAVNFR8QGF00HV840
• Issue Type: Mortgage Covered Bond, backed by Czech CZK-denominated residential mortgage loans, European Covered Bond (Premium)
• Expected Issue Rating: AAA (Fitch)
• Form: Regulation S, Registered Form, New Safekeeping Structure
• Tenor: 5.5-year
• Size: €750m
• Reoffer: MS +40bp / 99.993 / 3.254%
• Benchmark: DBR 0 15-Aug-31 TWIN (DE0001102564) +56.6 (86.754) HR 109%
• Coupon: 3.25% Fixed, Short First, Annual, Actual/Actual (ICMA)
• Pricing Date: 01-Apr-26
• Settlement Date: 10-Apr-26 (T+5)
• Maturity Date: 10-Oct-31
• Denominations: €100,000 + increments of €1,000 in excess thereof
• ISIN: XS3328489334
• Common Code: 332848933
• Listing: Luxembourg Stock Exchange, Regulated Market (Bourse de Luxembourg)
• Governing Law: Contractual terms governed by English law; the covered bonds and cover pool will also be subject to Czech covered bond regulation
• Sole Global Coordinator: Société Générale (B&D)
• Joint Bookrunners: BayernLB, Danske Bank, Erste Group, ING, Société Générale, UniCredit
• Documentation: The Issuer’s EUR 5bn Mortgage Covered Bond Programme dated 03-Oct-25 and as supplemented on the 31-Mar-26
• Supplement Link: https://www.kb.cz/en/about-bank/for-investors/eur-covered-bond
• Investor Presentation Link: https://dealroadshow.com/e/KB2026
• Timing: Priced, TOE 14:35 CET / FTT 14:55 CET