Commentary & Deal Flow

Reoffer: 6yr: MS+47bp / 99.968 / 3.256%
Benchmark: 6yr: DBR 0 15-Feb-32 +62.6bp (Spot 85.904) HR 110%

Peak Book: Orderbooks in excess of €850mn (incl €185m JLM interest)

Launched: 6yr: €500m @ MS+47bp - Orderbooks in excess of €825mn (incl €185m JLM interest)
Book Update: Orderbooks in excess of €850mn (incl €185m JLM interest)
Guidance: 6yr: MS+50a

• Issuer: Kommunalkredit Austria AG (Ticker: KA)
• LEI: 549300IEVCBWVV97WC81
• Expected Issue Rating: AA+ (S&P)
• Covered Bond Label: European Covered Bond (Premium)
• Currency: €
• Size: €500m
• Final Spread: MS+47 bps
• Reoffer: 99.968 / 3.256%
• Benchmark: DBR 0 15-Feb-32 +62.6bp (Spot 85.904) HR 110%
• Format: Bearer Notes, Modifiable Global Note (non digital)
• Launch Date: 8-Apr-26
• Settlement Date: 15-Apr-26 (T+5)
• Maturity Date: 15-Apr-32
• Maturity Type: Soft Bullet
• Coupon: 3.25%, payable annually, fixed
• Redemption Amount: 100%
• Denominations: €100,000 (and multiples thereof)
• Documentation: Under the Issuer’s €5bn European Covered Bond (Premium) Programme dated 12-Mar-26
• Listing: Vienna Stock Exchange (Wiener Börse) – Official Market (Amtlicher Handel)
• Clearing: Euroclear / Clearstream / OeKB
• Governing Law: Austrian Law
• ISIN: AT0000A3TYA4
• Target Market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No EU or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or in the UK
• Joint Bookrunners: Banco Bilbao Vizcaya Argentaria S.A., Danske Bank, Deutsche Bank AG (B&D / DM), Erste Group Bank AG, Landesbank Hessen-Thüringen Girozentrale, Raiffeisen Bank International
• Advertisement: The Base Prospectus is available at https://www.kommunalkredit.at/fileadmin/user_upload/Processed/Investor-Relations/Bond-Investoren/Debt-Issuance-Programme/2026/260312-Kommunalkredit-Basisprospekt.pdf and Final Terms, when published, will be available at www.kommunalkredit.at/investor-relations/bond-investoren
• Timing: Priced
• ToE: 13.41 UKT / 14.41 CET
• FTT: 14.00 UKT / 15.00 CET