Commentary & Deal Flow

Launched: 7yr: €1bn @ MS+73bp
Book Update: Books €2bn+ (excl JLM)
IPTs: 7yr: MS+100-105bps

• Issuer: Svenska Handelsbanken AB (publ) (Ticker: SHBASS)
• LEI: NHBDILHZTYCNBV5UYZ31
• Issuer Ratings: Aa2/AA-/AA (Moody's/S&P/Fitch)
• Expected Issue Ratings: A1/A/AA (Moody's/S&P/Fitch)
• Status: Senior Non-Preferred Notes
• Ranking: Unconditional and unsecured
• Format: Reg S only, Bearer form, NGN, TEFRA D rules apply
• Size: €1bn
• Settlement Date: 29-Apr-26 (T+5)
• Maturity Date: 29-Apr-33 (7 years)
• Coupon: Fixed, Annual, Act/Act (ICMA)
• Interest Payment Dates: 29 April every year, from and including 29-Apr-27, up to and including the Maturity Date
• Business Days / Business Day Convention: T2 / Following Business Day Convention, unadjusted
• Denominations: €100,000 + €1,000 increments
• Early Redemption: Applicable, as per Condition 7(b) (Redemption for Withholding Tax Reasons), 7(g) (Redemption upon MREL/TLAC Disqualification Event) and 7(h) (Redemption upon Tax Event), subject to the prior written consent of the Relevant Regulator and/or Relevant Resolution Authority as set out in Condition 7(m)
• Substitution and Variation: Applicable, as per Condition 7(k) (Variation or Substitution instead of Redemption), subject to the prior written consent of the Relevant Regulator and/or Relevant Resolution Authority as set out in Condition 7(m)
• Events of Default: Payment of principal and interest on the Notes will be subject to acceleration only in certain limited circumstances, in accordance with Condition 12(a)
• Swedish Statutory Loss Absorption Powers: Applicable, as per Condition 21
• Stabilisation: Relevant stabilisation regulations, including FCA/ICMA apply
• Listing: Application will be made to Euronext Dublin for the Notes to be admitted to the Official List and to trading on the GEM
• Clearing: Euroclear/Clearstream, Luxembourg
• Target Market: Manufacturer target market (MIFID II/UK MiFIR product governance, as appropriate) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs KID or disclosure document required by the FCA Product Disclosure Sourcebook has been prepared as not available to retail in EEA or the UK
• Fees: The Joint Lead Managers will be paid a fee in connection with the transaction
• Documentation: The Pricing Supplement will be produced based on the U.S.$50,000,000,000 Euro Medium Term Note Programme as described in the Offering Circular dated 06-Mar-26 (as supplemented from time to time)
• Selling Restrictions: As per the Offering Circular
• Governing Law: The Notes and any non-contractual obligations arising out of or in connection therewith, shall be governed by, and construed in accordance with, English law, except that the provisions contained in Conditions 4 will be governed by, and shall be construed in accordance with, Swedish law
• Use of Proceeds: Green Bonds under the Green Bond Framework published August 2025
• ISIN / Common Code: XS3358268251/ 335826825
• JLMs: BofA Securities, Goldman Sachs Bank Europe SE, Morgan Stanley, Svenska Handelsbanken, UBS
• Advertisement: The Offering Circular dated 06-Mar-26 is available at https://www.handelsbanken.com/en/investor-relations/debt-investors/funding and the Final Terms, when published, will be available at https://www.euronext.com/en/markets/dublin
• Timing: Today's business