Commentary & Deal Flow

Reoffer: 8yr: 7.625% / par

Launched: 8yr: US$1bn @ 7.625% - Books > US$3.9bn excl JLM int
Guidance: 8yr: 7.625% area (+/- 0.125% WPIR) - Books > US$5bn (excl. JLM)
IPTs: 8yr: 8.000%a

• Issuer: The Arab Republic of Egypt
• Issuer LEI: 529900GFIVH4086NMH82
• Issuer Ratings: Caa1 (Positive) by Moody's, B by S&P (Stable) and B (Stable) by Fitch
• Expected Issue Ratings: B by S&P / B by Fitch
• Format: Rule 144A / Reg S, Category 1
• Status: Senior Unsecured
• Currency: US$
• Issue Size: US$1bn
• Tenor: 8 years
• Maturity Date: 20-May-34
• Settlement Date: 20-May-26 (T+5)
• Pricing Date: 13-May-26
• Reoffer Yield / Price: 7.625% / par
• Coupon: 7.625%, Fixed rate, semi-annual in arrear, up to and including the Maturity Date
• Listing: London Stock Exchange, Main Market
• Clearing: Rule 144A (DTC), Regulation S (Euroclear and Clearstream Luxembourg)
• Form of Notes: Unrestricted Global Certificate to be cleared through Euroclear and Clearstream, Luxembourg and Restricted Global Certificate(s) to be cleared through DTC
• Use of Proceeds: The net proceeds will be used to finance or re-finance one or more Eligible Social Projects (as defined in the Issuer's Sovereign Sustainable Financing Framework)
• Governing Law: English law
• Denominations: U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof
• Documentation: Global Medium Term Note Programme's Base Offering Circular dated 13-May-26
• B&D: Citi
• RegS ISIN / Common Code: XS3305218136 / 330521813
• 144A ISIN / CUSIP: US03846JAJ97 / 03846JAJ9
• Joint Lead Managers and Bookrunners: Citi, Crédit Agricole CIB, Deutsche Bank, HSBC
• Joint Sustainability Structuring Banks: Citi and HSBC
• Stabilisation: ICMA/FCA stabilisation applies
• TOE / FTT: 18:05 UKT / FTT: 8:00 UKT on 14-May-26, subject to TS