Commentary & Deal Flow

Reoffer: L6yr: MS+103bp / 100 / 3.938% L10yr: MS+138bp / 100 / 4.468%
Benchmark: L6yr: DBR 0% 15-Feb-32 @ 85.24 / B+116.6bp HR: 111% L10yr: DBR 0% 15-May-36 @ 73.50 / B+136.8bp HR: 112%

L6yr: Final Books > €1.95bn. Peak book €2.1bn
L10yr: Final Books > €1.45bn. Peak book €1.7bn

Launched:
L6yr: €500m @ MS+103bp - Books €2.1bn
L10yr: €700m @ MS+138bp - Books €1.7bn
Guidance: L6yr: MS+105 +/-2bp L10yr: MS+140 +/-2bp - Combined books above €4.2bn (€2.3bn 6yr / €1.9bn 10yr)
IPTs: L6yr: MS+135/140bp L10yr: MS+170a

• Issuer: Softbank Corp. (Ticker: SOBKCO, Country: Japan)
• Issuer LEI: 353800M1YCTS9JRBJ535
• Issuer Ratings: BBB (Neg Outlook) by S&P and BBB+ (Stable) by Fitch
• Expected Ratings: BBB by S&P and BBB+ by Fitch
• Ranking: Senior Unsecured
• Format: Reg S Only, Registered
• Settlement: 17-Apr-26
• Transaction Size:
• • L6yr: €500,000,000
  • L10yr: €700,000,000
• Maturity:
• • L6yr: 30-Jun-32
  • L10yr: 30-Jun-36
• Coupon:
• • L6yr: 3.936%, Annual, Act/Act (ICMA) Short First
  • L10yr: 4.467%, Annual, Act/Act (ICMA) Short First
• Optional Redemption:
• • L6yr: 3-month Par Call, MWC @ B+20
  • L10yr: 3-month Par Call, MWC @ B+25
• TOE:
• • L6yr: 15:35 UKT
  • L10yr: 15:36 UKT
• ISIN:
• • L6yr: XS3317460619
  • L10yr: XS3317460700
• Denomination: €100,000 and integral multiples of €1,000 in excess thereof
• Listing: Singapore Exchange Securities Trading Limited (SGX-ST)
• Sales into Canada: No
• Joint Bookrunners: J.P. Morgan, BNP Paribas, Citigroup, and Mizuho
• B&D: J.P. Morgan
• FTT: 07:30 UKT on 13-Apr-26
• Use of Proceeds: General Corporate Purposes
• Advertisement: The Offering Circular, when published, will be available on the website of the Singapore Stock Exchange https://www.sgx.com/