Call Protection: NC2 (04/15/28) (MWC B+50bp), then at 103.4375 04/15/28, 101.71875 04/15/29, 100 04/15/30. Equity claw: 2y 40% aat 106.875. Special call: 10% per year the first 2 years at 103
Change of Control: Put @ 101
Fungibility: fungible with the original EUR500m issue priced 10-Apr-2026
ISIN: XS3314100986 (Same as existing)
Interest Pays: April 15 and Oct 15, starting 10/15/26 (30/360)
Day Count: 30/360
Denominations: €100k x €1k
Listing: Euronext Dublin
Governing Law: New York Law
Use of Proceeds: Together with cash on hand, to repay in full its outstanding £200m perpetual bonds, and to pay related fees and expenses
Timing: Books close today, 28-Apr, at 12:30 UKT / 13:30 CET. Pricing thereafter.
Settlement: 11-May-26
Advertisement: This communication is an advertisement and does not constitute a prospectus for the purposes of Regulation (EU) 2017/1129 and underlying legislation. The Offering Memorandum, when published, will be available on the website of the Euronext website https://live.euronext.com
Target Market: MiFID II professionals/ECPs-only/No PRIIPs KID – Manufacturer target market (UK or EU MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No UK or EU PRIIPs key information document (KID) has been prepared as not available to retail in EEA or UK