Commentary & Deal Flow

Reoffer: 4.5yr: MS+40bp / 99.766 / 3.310%
Benchmark: 4.5yr: OBL 2.2% Oct-30 @ 97.68 / B+55.9bp

Final Books: €1.2bn (incl 65m JLM interest)

Launched: 4.5yr: €750m @ MS+40bp - Books above €1.2bn (including 65m JLMs)
Spread set at: 4.5yr: MS+40bp - Books above €1.1bn (including €65m JLMs)
Book Update: Books above €1bn (incl. €55m JLM)
Guidance: 4.5yr: MS+45a

• Issuer: Všeobecná úverová banka, a.s. (VUB banka a.s.)
• LEI: 549300JB1P61FUTPEZ75
• Expected Rating: Aa1 (Moody's)
• Type: Slovak Mortgage Covered Bond EU harmonization label European Covered Bond (Premium)
• Format: Reg S, bearer
• Size: €750m
• Pricing Date: 07-Apr-26
• Settlement: 14-Apr-26
• Maturity: 14-Oct-30 (“soft bullet”)
• Reoffer: 99.766% / 3.310% / MS+40bps
• Benchmark: OBL 2.2% Oct-30 + 55.9bp (px:97.68)
• Coupon: 3.25%, Fixed, Annual, Act/Act ICMA, short first
• Day Count Fraction: Actual/Actual (ICMA)
• Business Day Convention: Following Business Day Convention – Unadjusted
• Redemption: Redemption (bullet) at par, subject to potential statutory extension (soft bullet) in case of bankruptcy, resolution or involuntary administration
• Governing law: Slovak Law
• Documentation: Issued under the Offering Programme for Covered Bonds in the maximum volume of unpaid Bonds amounting to EUR 7bn with Base Prospectus dated 27-Feb-26 and published on 06-Mar-26
• Denoms: €100k + €100k
• Listing: Luxembourg Stock Exchange
• Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
• Fees: Joint Bookrunners will be paid a fee in connection to the transaction
• Bookrunners: BayernLB, Danske Bank, Erste Group, IMI-Intesa Sanpaolo (B&D), Raiffeisen Bank International and UniCredit
• ISIN: SK4000029237
• Advertising: The Base Prospectus, any supplements thereto, and the Final Terms (when published) will be available at https://www.vub.sk/en/ludia/informacny-servis/dlhopisy-vub/kryte-dlhopisy-vub.html and also at https://www.luxse.com
• Timing: Priced, TOE 14:09 CET, FTT 14:30 CET