Commentary & Deal Flow

Reoffer: 7yr: MS+57bp / 99.431 / 3.468%
Benchmark: 7yr: DBR 2.3 15-Feb-33 TWIN @ 96.925 / B+66.4bps / HR: 102%

Final Books €3.3bn+. Peak book above €3.5bn (pre-reconciliation)

Launched: 7yr: €750m @ MS+57bp - Books above €3.5bn pre-rec
IPTs: 7yr: MS+90/95bp

• Issuer: Airbus SE (Ticker: AIRFP, Country: NLD)
• LEI: MINO79WLOO247M1IL051
• Issuer Ratings: A1/A (Moody’s, Stable Outlook / S&P, Positive Outlook)
• Exp. Issue Rating: A1 (Moody’s)
• Issue Type: 7-year Fixed Rate Notes
• Format: Senior, unsecured, Reg S (Cat 2), Bearer Dematerialised Form, New Global Notes
• Settlement Date: 13-May-26 (T+5)
• Maturity Date: 13-May-33
• Issue Size: €750m
• Reoffer: MS+ 57bps / 99.431 / 3.468%
• Benchmark: DBR 2.3 15-Feb-33 TWIN (Px 96.925) +66.4bps / HR: 102%
• Coupon: 3.375% Fixed (Annual, Act/Act, ICMA)
• MWC: B+10bps
• Documentation: EMTN Base Prospectus dated 31-Jul-25 and supplements dated 02-Mar-26 and 30-Apr-26 / English Law / €100k + 1k / Luxembourg Stock Exchange (Euro MTF) / MWC / 3mPC / Clean-Up Call (75%)
• Use of Proceeds: General Corporate Purposes
• ISIN Code: XS3368929611
• Clearing: Euroclear / Clearstream
• Global Coordinators: Citi / Deutsche Bank (B&D) / Société Générale
• Active Bookrunners: BBVA / Citi / Crédit Agricole CIB / Deutsche Bank / ING / Société Générale / Unicredit
• Passive Bookrunners: Barclays / BNP Paribas / Commerzbank / HSBC / Lloyds / Natixis / Santander
• Target Market: MiFID II and UK MiFIR professionals & ECPs-only. Manufacturer target market (MiFID II product governance and UK MiFIR product governance rules) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (“KID”) has been prepared as the notes are not available to retail in EEA or the United Kingdom.
• Advertisement: The Base Prospectus and any supplements are available at https://www.bourse.lu/issuer/Airbus/52522 and final terms, when published, will be available on the website of the Luxembourg Stock Exchange: https://www.bourse.lu/home and the issuer https://www.airbus.com/
• Timing: Priced. TOE: 15.16 UKT / 16.16 CET - FTT: 15.40 UKT / 16.40 CET