Commentary & Deal Flow

IPTs: 4yr: MS+95/100bp 10yr: MS+150a

• Issuer: Universal Music Group N.V. (Country: NL; Ticker: UNIMUS)
• Issuer’s LEI code: 724500GJBUL3D9TW9Y18
• Issuer Ratings: Baa1/BBB+ (Moody's/S&P)
• Expected Issue Ratings: Baa1/BBB+ (Moody's/S&P)
• Format: Senior Unsecured, Reg S, Bearer, NGN
• Pricing Date: 09-Jun-26
• Settlement Date: 16-Jun-26 (T+5)
• Maturity Date:
• • 4yr: 16-Jun-30
  • 10yr: 16-Jun-36
• Size:
• • 4yr: €500m WNG
  • 10yr: €500m WNG
• Coupon:
• • 4yr: Fixed, Annual, Act/Act (ICMA)
  • 10yr: Fixed, Annual, Act/Act (ICMA)
• Call Options:
• • 4yr: MWC (in whole or in part), 1m Par Call, Residual Call (75%)
  • 10yr: MWC (in whole or in part), 3m Par Call, Residual Call (75%)
• Change of Control: Yes, at Par
• Clearing and Settlement System: Euroclear and Clearstream, Luxembourg
• Business Days: T2 / Additional Financial Centre(s): London
• Docs/Denoms: EMTN / Dutch Law / Euronext Amsterdam / €100k + €1k
• Use of Proceeds: General corporate purposes, including refinancing of existing debt
• Global Coordinators: BNP Paribas, Crédit Agricole CIB (B&D)
• Active Bookrunners: BNP Paribas, Crédit Agricole CIB (B&D), IMI – Intesa Sanpaolo, Mediobanca, Mizuho, Morgan Stanley, Santander, Société Générale
• Marketing: FINAL LINK: https://dealroadshow.com/e/UMG2026 or Visit https://dealroadshow.com and enter the entry code: UMG2026
• Selling Restrictions: Reg. S Compliance Category 2; TEFRA D Rules applicable; No communications with or into the US. Canada sales: permitted investors in Alberta, Quebec and Ontario
• Target market: Manufacturer target market (MIFID II/UK MIFIR product governance) is Professional Clients and Eligible Counterparties only (all distribution channels). No EU PRIIPs key information document (KID) and no UK disclosure document required by DISC has been prepared as the notes are not available to retail in EEA or the UK.
• 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 and supplement thereto are available and the Final Terms, when published, will be available on https://investors.universalmusic.com
• Timing: Books open, today’s business