Commentary & Deal Flow

Reoffer: 5yr: MS+50 / 99.832 / 3.287%
Benchmark: 5yr: OBL 2.5% 16-Apr-31 #193 Corp (spot, 99.30) / B+63.7 / HR 100%

Final Books €1.25bn+. Peak book €1.6bn+ (pre-rec)

Launched: 5yr: €500m @ MS+50bp - Books €1.6bn+ (pre-rec)
Book Update: Books €1bn+
IPTs: 5yr: MS+75a

• Issuer: OP Corporate Bank plc (Ticker: "OPBANK")
• LEI: 549300NQ588N7RWKBP98
• ISIN: XS3376355122
• Issuer Ratings: Aa3, stable (Moody's) / AA-, stable (S&P)
• Exp. Issue Ratings: Aa3 (Moody's) / AA- (S&P)
• Status of the Notes: Restricted Senior Preferred Instruments
• Maturity Date: 15-May-31 (5yr)
• Settlement: 15-May-26 (T+6)
• Issue Size: €500,000,000
• Re-offer: 99.832 / 3.287% / MS+50 / B+63.7
• Ref Bund: OBL 2.5% 16-Apr-31 #193 Corp, (spot, 99.30), HR 100%
• Coupon: 3.250% Fixed, Annual, payable in arrear
• Coupon Payment Dates: 15 May in each year, commencing on 15-May-27
• Day Count Fraction / Business Day Convention: Act/Act ICMA / Following
• Early Redemption: Subject to certain conditions (including prior regulatory approval), early redemption of the Instruments will be permitted for taxation reasons or upon the occurrence of an MREL Disqualification Event (partial or full disqualification)
• Substitution and Variation: If an MREL Disqualification Event has occurred and is continuing or to ensure the effectiveness or enforceability of bail-in, the Issuer may substitute or vary the terms of all (but not some only) of the Instruments, without any requirement for the consent or approval of Holders such that they remain or, as appropriate, become, Compliant Instruments (subject to certain pre-conditions including not materially less favourable to Holders)
• Acknowledgement of Bail-in and Loss Absorption Powers: Contractual acknowledgement of Finnish bail-in and loss absorption powers
• Denominations: €100,000 (and integral multiples of €1,000 in excess thereof)
• Listing: Euronext Dublin (regulated)
• Clearing: Euroclear / Clearstream, Luxembourg
• Governing Law: Finnish law
• Documentation: The Issuer's €25,000,000,000 Euro Medium Term Note Programme described in the Base Prospectus dated 18-Dec-25, as supplemented from time to time (the "Programme")
• Selling Restrictions: As per the Programme, Reg S Compliance Category 2, TEFRA D
• 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
• Use of Proceeds: An amount which is equivalent to the net proceeds of the issue of the Instruments will be used in accordance with the OP Corporate Bank plc's Green Bond Framework dated April 2026
• Bookrunners: BofA Securities, Crédit Agricole CIB, DZ BANK, OP Corporate Bank
• Timing: ToE: 14:07 (UKT) / FTT: 14:30 (UKT)
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