Commentary & Deal Flow

Launched: 5yr: €500m @ MS+57bp - Books above €1.75bn+ (incl €45m JLM)
Book Update: Books above €1.5bn+ (incl. €45m JLM)
IPTs: 5yr: MS+85bp area

• Issuer: Länsförsäkringar Bank AB (publ)
• Ticker: LFBANK
• Issuer LEI: 549300C6TUMDXNOVXS82
• Issuer Ratings: A1 (Stable) / A+ (Stable) (Moody's/S&P)
• Exp. Ratings of the Notes: A1 / A+ (Moody's/S&P)
• Form of the notes: Bearer Notes represented by a Temporary Global Note exchangeable for a Permanent Global Note (NGN)
• Size: €500m
• Books Subject: Books to go subject at 12.25 UKT / 13.25 CET
• Pricing Date: 28-Apr-26
• Settlement Date: 06-May-26 (T+6)
• Maturity Date: 06-May-31
• Redemption Amount: 100% of the outstanding nominal amount
• Documentation: Issued under the Länsförsäkringar Bank AB (publ) €5bn EMTN Programme base prospectus dated 01-Apr-26 (the “Base Prospectus”). The Base Prospectus, supplements and final terms are available on the Issuer’s website: https://www.lansforsakringar.se/alvsborg/other-languages/english/aboutlansforsakringar/lansforsakringar-bank/terms-of-usage-for-emtn-baseprospectus/prospectus-euro-medium-term-notes/
• Use of Proceeds: The Notes use the designation ‘European Green Bond’ or ‘EuGB’ in accordance with Regulation (EU) 2023/2631 (the "EU Green Bond Regulation"). The Factsheet is aligned with the Green Bond Principles, as published by the International Capital Markets Association. An amount equivalent to the proceeds of the Notes will be used to finance and refinance, in whole or in part, loans as set out in the Issuer’s Green Bond Factsheet dated 20-Mar-26 prepared by the Issuer in accordance with Annex I of the EU Green Bond Regulation. Allocation is intended to the following taxonomy-aligned economic activities:: Category: Green Buildings Description: Residential real estate mortgage loans EU Taxonomy Objective: Climate Change Mitigation EU Taxonomy activity: 7.7 Acquisition and ownership of buildings Related NACE Code: L68. The Issuer expects the proceeds of the European Green Bonds to be fully allocated at the time of each issuance, primarily refinancing assets that meet the criteria for taxonomy-aligned economic activities. Actual allocations may evolve over time depending on the development of the portfolio of taxonomy-aligned economic activities. Any changes will be addressed through the Issuers’ internal procedures and reflected in the allocation reports. The completed European Green Bond factsheet and the pre-issuance review related to the European Green Bond factsheet by Sustainable Fitch together with the Green Bond Framework and second party opinion are published on: https://www.lansforsakringar.se/stockholm/privat/om-oss/finansiellt/lansforsakringar-bank-ab/grona-obligationer/#greenbonds. For the avoidance of doubt, such information on the Issuer’s website do not form part of the base prospectus nor incorporated by reference into the base prospectus.
• European Green Bonds: Yes. Date of the European Green Bond Factsheet and Pre-Issuance External Review: 20-Mar-26 (These are available at https://www.lansforsakringar.se/stockholm/privat/om-oss/finansiellt/lansforsakringar-bank-ab/grona-obligationer/#europeangreenbondfactsheetandpreviousicmagreenbondframework)
• Listing: Luxembourg Stock Exchange (Regulated market)
• Governing Law: English Law
• Denominations: €100k + €1k
• Clearing: Euroclear, Clearstream (Luxembourg)
• Joint Lead Managers: ABN AMRO Bank N.V, BofA Securities, BNP PARIBAS, Commerzbank, Danske Bank, Société Générale
• 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 UK PRIIPs KID/CCI product summary has been prepared as not available to retail in EEA or the UK.
• Selling Restrictions: Per the Base Prospectus
• Fees: The Joint Lead Managers will be paid a fee by the Issuer in respect of the placement of the Notes. Details of the fee may be made available on request to investors participating in the transaction
• Timing: Books open, today’s business