Commentary & Deal Flow

Guidance: NEW Oct-2033: EU 2.750% 12/32 + 11bp area | TAP Oct-2055: EU 3.375% 10/54 + 5bp area

• Issuer: European Union (EU)
• LEI: 529900FZRK8FGMPEOM08
• Ratings: Aaa/AA+/AAA/AAA (Moody's/S&P/Fitch/Scope)
• Risk Weighting: 0%
• Format & Type: RegS (Category 1) Bearer (TEFRA Rules apply, no communications with or into the US or Canada (excluding Ontario)), NGN
• Trade Date: 12-May-26
• Settlement: 19-May-26 (T+5)
• Tranche:
• • NEW Oct-2033
  • TAP Oct-2055
• Maturity:
• • NEW Oct-2033: 12-Oct-33
  • TAP Oct-2055: 12-Oct-55
• Tranche Size:
• • NEW Oct-2033: €6bn (WNG)
  • TAP Oct-2055: €4bn (WNG) (current OS: €11bn)
• Coupon:
• • NEW Oct-2033: []%, Fixed, short first, Ann, ACT/ACT ICMA
  • TAP Oct-2055: 4.000%, fixed, incl. 245 days accrued, Ann, ACT/ACT ICMA
• Guidance:
• • NEW Oct-2033: EU 2.750% 12/32 + 11 bps area
  • TAP Oct-2055: EU 3.375% 10/54 + 5 bps area
• ISIN:
• • NEW Oct-2033: EU000A4EUY43
  • TAP Oct-2055: EU000A4EG039 (immediately fungible)
• Denoms: €1
• Listing: Luxembourg Stock Exchange’s Regulated Market
• Law: Luxembourg
• Docs: In accordance with the Issuer's Debt Issuance Programme
• JLMs: CACIB / GSBE SE (DM/B&D) / JPM / NATWEST / SG
• Target Market: The target market for the Bonds is professionals, retail and eligible counterparties (all channels for distribution), each as defined in MIFID II/UK MiFIR
• Schedule: Books Open, Today's Business