Commentary & Deal Flow

Book Update: Books in excess of €5.25bn (incl. €940m JLM interest)
IPTs: 8yr: MS+65a 12yr: MS+90a 20yr: MS+125a

• Issuer: MTR Corporation Limited
• Issuer Ratings: Aa3/AA+ (Moody's/S&P)
• Expected Issue Ratings: Aa3/AA+ (Moody's/S&P)
• Status: Senior Unsecured Green Notes, Fixed Rate, Drawdown under the Issuer’s US$25,000,000,000 Debt Issuance Programme (the “Green Notes”)
• Format: Regulation S (Category 2), Registered Form
• Size: € Benchmark (for each tranche)
• Maturity Date:
• • 8yr: 10-Jun-34
  • 12yr: 10-Jun-38
  • 20yr: 10-Jun-46
• Optional Redemption:
• • 8yr: 3-months par-call
  • 12yr: 3-months par-call
  • 20yr: 6-months par-call
• Coupon: Annual, Actual/Actual (ICMA)
• Use of Proceeds: To fund or refinance, in whole or in part, eligible green investments as set out in section 4 of the MTR Sustainable Finance Framework
• Second Party Opinion Provider on the Green Notes: Sustainable Fitch
• Listing: The Stock Exchange of Hong Kong Limited, Euro MTF Market of the Luxembourg Stock Exchange
• Denominations: €100,000 / €1,000
• Governing Law: English law
• JGCs, JBRs and JLMs: BNP Paribas, Crédit Agricole CIB, Deutsche Bank, HSBC(B&D), J.P. Morgan, Societe Generale
• JLMs: Bank of China (Hong Kong), Barclays, BofA Securities, Citigroup, ICBC (Asia), Morgan Stanley, Standard Chartered Bank, UBS
• Sole ESG Structuring Advisor: Societe Generale
• Clearing: CMU with linkage to Euroclear/Clearstream
• Timing: Today's business
• Settlement Date: 10-Jun-26 (T+5)
• Netroadshow: www.netroadshow.com/nrs/home/#!/?show=9ce6b3ab or entry code: lorol26