Commentary & Deal Flow

Launched: 5NC4: €750m @ MS+62bp - Books above €1.35bn (excl. JLM)
Guidance: 5NC4: MS+65bp area - Books above €1.25bn (excl. JLM)
IPTs: 5NC4: MS+85bp area

• Issuer: Erste Group Bank AG (Ticker: ERSTBK)
• LEI: PQOH26KWDF7CG10L6792
• Issuer Ratings: Aa3/A+/A (positive/positive/stable) (Moody's/S&P/Fitch)
• Expected Issue Ratings: A1/A+/A (Moody's/S&P/Fitch)
• Status: The Notes constitute direct, unsecured and unsubordinated obligations of the Issuer and are intended to qualify as eligible liabilities instruments (Preferred Senior Notes). Exclusion of set-off, no acceleration rights.
• Format: Reg S, Bearer Notes, Digital Global Note
• Currency / Size: €750m
• Tenor: 5NC4
• Settlement Date: 13-May-26 (T+4)
• Optional Redemption Date: 13-May-30
• Maturity Date: 13-May-31
• Final Terms: Size €750m, Spread MS+62bps
• Coupon: [●]% per annum from (and including) the Issue Date to (but excluding) the Reset Date, payable annually in arrears on 13 May each year, with the first interest payable on 13-May-27; Act/Act (ICMA) following unadjusted
• Reset Coupon: If not redeemed at the Optional Redemption Date (=Reset Date), Notes will reset to 3-month EURIBOR + [●]bps (3-month EURIBOR + original issue spread) p.a. from (and including) the Reset Date to (but excluding) the Maturity Date, payable quarterly in arrears on 13 May, 13 August, 13 November and 13 February with the first interest payable on 13-Aug-30. Act/360 modified following adjusted.
• Business Days: T2 and Clearing Systems
• Documentation: Erste Group Bank AG’s Multi Issuer EMTN Programme, consisting of the Securities Note dated 28-Nov-25 and the Registration Document dated 10-Jun-25, as supplemented
• Denoms/Listing/Law: EUR 100,000 + EUR 100,000 / Vienna (Official Market) / Austrian Law
• ISIN: AT0000A3UQ65
• Clearing: Euroclear / Clearstream / OeKB
• Selling Restrictions: Reg S, and as further set out in the Multi Issuer EMTN Programme
• Manufacturer target market: Manufacturer target market (MiFID II / UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No EU or FCA Product Disclosure Sourcebook (DISC) disclosure document has been prepared as not available to retail in the EEA or in the UK
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Base Prospectus and the Final Terms, when published, will be available at: https://www.erstegroup.com/en/about-us/erste-group-issues/prospekte/anleihen
• Global Coordinator: Erste Group
• Joint Bookrunners: BMO Capital Markets, BNP Paribas, CaixaBank, Commerzbank, Deutsche Bank, Erste Group (B&D) and Mediobanca
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the Notes.
• Timing: Books open, today’s business
• Books Subject: 12:20 CET / 11:20 UKT