Commentary & Deal Flow

Final Books >€2.4bn. Peak book in excess of €2.65bn.

Launched: 5.7yr: €750m @ MS+110bp - Books in excess of €2.65bn
IPTs: 5.7yr: MS+140/150bp

• Issuer: Deutsche Lufthansa Aktiengesellschaft (Ticker: LHAGR, Country: Germany)
• Issuer LEI: 529900PH63HYJ86ASW55
• Issuer Rating: Baa3 (stable) by Moody’s, BBB- (stable) by S&P and BBB- (stable) by Fitch
• Exp. Issue Rating: Baa3 by Moody’s, BBB- by S&P and BBB- by Fitch
• Format: Senior, unsecured, Reg S Bearer, TEFRA D
• Trade Date: 19-May-26
• Settlement Date: 27-May-26 (T+6)
• Maturity: 27-Jan-32
• Tranche: 5.7-year
• Size: €750m
• ISIN: XS3376351055
• Coupon: Fixed, Annual, ACT/ACT (ICMA), Short First
• Payment Days: Following, unadjusted
• Early Redemption: Tax Call, CoC, Clean-up Call (75%), 3m Par Call
• Docs: Debt Issuance Programme dated 23-Apr-26, as supplemented on 08-May-26 / Lux. Listing Regulated Market / German Law / €1k+1k
• Selling Restrictions: As per Debt Issuance Programme dated 23-Apr-26, as supplemented on 08-May-26
• UoP: General corporate purposes including repayment of existing debt
• Marketing: URL: http://www.netroadshow.com Entry Code: LUFTI26 Direct Link: http://www.netroadshow.com/nrs/home/#!/?show=0ce04233
• Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties, professional clients and retail clients. No EU PRIIPs key information document (KID) or UK disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared.
• Global Coordinators: BNP Paribas (B&D), Citigroup, ING
• Joint Bookrunners: BNP Paribas (B&D), Citigroup, ING, Bank of China, DZ Bank, Erste Group, LBBW
• 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 is available and the Final Terms, when published, will be available at: https://www.luxse.com/programme/Programme-DtscheLufthansa/13610
• Books Subject: At 12:30 UKT / 13:30 CET
• Timing: Books open, today’s business. Allocations & pricing to follow this PM.