Commentary & Deal Flow

Price talk: 5yr: 4.75-5.00%

Book Update: Orderbook >€1.3bn (pre-rec) (from >€1.0bn (ex JLM))
IPTs: 5yr: 5.25%a

• Issuer: Maxima Grupė, UAB
• Issuer LEI: 259400Z5DFISQ00QN727
• Issuer Ratings: BB+ (Stable) by S&P
• Exp Ratings of the Notes: BB+ by S&P
• Format: Reg S only
• Settlement Date: 19-May-26 (T+8)
• Maturity Date: 19-May-31 (5-year)
• Issue Size: €300mn (expected)
• Price Talk: 4.75-5.00%
• Coupon: Fixed, annual (ACT/ACT)
• Early Redemption: Change of Control, Taxation, Make Whole Call, 3 months par call
• Financial Covenants: Financial covenants: Consolidated Net Leverage Ratio ≤3.75:1 or Fixed Charge Coverage Ratio ≥2.0:1; Consolidated Secured Leverage Ratio ≤1.5:1; Negative Pledge; Restricted Payments; Asset Sales Covenant; Merger Covenant; Transactions with Affiliates
• Governing Law: English Law
• Listing: Euronext Dublin’s Regulated Market with passporting to NASDAQ Vilnius
• Offer and Sales Restrictions: As set out in the Base Prospectus dated 5-May-26
• Denomination: €100,000 x €1,000
• Use of Proceeds: Repay the existing Bridge Loan Facility, payment of fees and expenses relating to the issuance and thereafter general corporate purposes
• Joint Bookrunners: Goldman Sachs Bank Europe SE, ING (B&D), SEB
• ISIN Code: XS3366323072
• Clearing Systems: Euroclear and Clearstream, Luxembourg
• Target Market: Professional Investors/ECPs-only
• Biz: the leading retailer in the Baltic region with an expanding footprint in Central and Eastern Europe. It is part of the Vilniaus Prekyba group. HQ: Vilius, Lithuania. Note: Lithuania is considered an Advanced Economy by the IMF, while the MSCI classifies it as a Frontier Market.
• Global Investor Call: 05-May-26 at 10:00 UKT / 11:00 CET
• Registration Link: https://www.netroadshow.com/events/login/1PeTHmojJbjQuO3hKuIc4cVJCLSRUjofSjNhv
• Baltic & Nordic Investor Call: 06-May-26 at 08:00 UKT / 09:00 CET
• 1x1 / Small Group Calls are available on 05-May-26 and 06-May-26.
• DealRoadshow Information:
• Investor Presentation: www.netroadshow.com/nrs/home/#!/?show=8dba3bc9
• Or visit www.netroadshow.com and enter the deal entry code: Maxima26
• Timing: Books open – today’s business
• Books Subject: Books to go subject at 13.00 UKT / 14.00 CET