Commentary & Deal Flow

Launched: 5yr: US$500m @ T+60bp
Guidance: 5yr: T+60bp
IPTs: 5yr: T+100a

• Issuer: NAVER Corporation
• Issuer Ratings: A3/A- (Moody's/S&P)
• Exp Issue Ratings: A3/A- (Moody's/S&P)
• Status: Fixed Rate, Senior Unsecured
• Format: Reg S Only (Category 2); Registered
• Size: US$500m
• Settlement Date: 21-Apr-26
• Tenor: 5-year
• Launch Spread: T+60
• Maturity Date: 21-Apr-31
• Day Count / Business Day Convention: 30/360, Unadjusted / Following Business Day
• Terms: US$200k/1k Denoms, New York Law
• Listing: SGX-ST (Singapore Exchange)
• Clearing: CMU with linkage to Euroclear / Clearstream
• Use of Proceeds: An amount equal to the net proceeds will be allocated toward the financing and/or refinancing, in whole or in part, of new and/or existing projects from the Eligible Green Categories in accordance with NAVER’s Sustainable Finance Framework published in April 2026
• Joint Bookrunners: Crédit Agricole CIB, HSBC (B&D), Morgan Stanley and Standard Chartered Bank
• Expected Timing: Allocations and pricing shortly