Commentary & Deal Flow

Reoffer: 3yr: MS+50bp / 99.963 / 3.264% 8yr: MS+93bp / 99.221 / 3.865%
Benchmark: 3yr: OBL 2.1 29-Apr-29 @ 98.62 / B+66bp (HR: 103%) 8yr: DBR 2.2 15-Feb-34 @ 95.38 / B+99bp (HR: 101%)

Tranche 1 (3yr): Final Books €3.3bn+.
Tranche 2 (8yr): Final Books €2.1bn. Peak book > €2.5bn.

Launched:
3yr: €750m @ MS+50bp - Books > €3.2bn
8yr: €750m @ MS+93bp - Books > €2.4bn
Guidance: 3yr: MS+55a (+/-5 WPIR) - Books > €3.2bn 8yr: MS+95a (+/-2 WPIR) - Books > €2.5bn
IPTs: 3yr: MS+85/90bp 8yr: MS+125/130bp

• Issuer: RELX Finance B.V.
• Issuer LEI: 54930086P8MBY4IN4E29
• Guarantor (Ticker): RELX PLC (Ticker: RELLN)
• Guarantor LEI: 549300WSX3VBUFFJOO66
• Guarantor Ratings (M/S/F): A3 (stable) / A- (stable) / A- (stable)
• Exp. Issue Ratings (M/S/F): A3 / A- / A-
• Format: Senior, Unsecured, Reg S, Bearer NGN, Cat2
• Ranking: Senior, Unsecured Notes
• Settlement: 03-Jun-26 (T+5)
• Size:
• • 3yr: €750m
  • 8yr: €750m
• Reoffer:
• • 3yr: MS+50bps / 3.264% / 99.963
  • 8yr: MS+93bps / 3.865% / 99.221
• Benchmark:
• • 3yr: OBL 2.1% 29-Apr-29 @ 98.62 / 2.604% / b+66bps (HR: 103%)
  • 8yr: DBR 2.2% 15-Feb-34 @ 95.38 / 2.875% / b+99bps (HR: 101%)
• Coupon:
• • 3yr: 3.250% FXD (Ann, ACT/ACT (ICMA))
  • 8yr: 3.750% FXD (Ann, ACT/ACT (ICMA))
• Coupon Payment:
• • 3yr: Payable annually on 22 May in each year, commencing from 22-May-27 up to and including the Maturity Date (short first coupon)
  • 8yr: Payable annually on 3 June in each year, commencing from 03-Jun-27 up to and including the Maturity Date
• Maturity Date:
• • 3yr: 22-May-29
  • 8yr: 03-Jun-34
• Par Call:
• • 3yr: 1 month
  • 8yr: 3 months
• MWC:
• • 3yr: B+10bps
  • 8yr: B+15bps
• TOE:
• • 3yr: 17:00 CET, 16:00 UKT
  • 8yr: 16:59 CET, 15:59 UKT
• ISIN:
• • 3yr: XS3317606419
  • 8yr: XS3317607060
• Use of Proceeds: General Corporate Purposes
• Documentation: Standalone / MWC / CoC Put / Clean-up Call (75%)/ Tax Call
• Target Market: UK MiFIR and EU MiFID II Professionals & Eligible Counterparties only (all distribution channels). No EEA PRIIPs KID or UK PRIIPs KID/CCI product summary will be prepared as not available to retail in EEA or the U.K.
• Governing Law: English Law
• Selling Restrictions: As per the issuer’s preliminary prospectus
• Denominations: €100k + 1k
• Listing: London Stock Exchange (Regulated market)
• Joint Active Bookrunners: BNP Paribas, Citigroup, Commerzbank, J.P. Morgan (B&D), Rabobank, TD Securities, UniCredit
• Advertisement: The final prospectus, when published, will be available on the issuer’s website (https://www.relx.com/investors/debt-investors/term-debt)
• Timing: Priced. FTT: 17:25 CET, 16:25 UKT