Commentary & Deal Flow

Reoffer: 3yr: MS+7bp / 99.788 / 2.948%
Benchmark: 3yr: OBL 2.1 04-Dec-29 #189 @ 98.38 / B+24.8bp / HR 108%

Final books at reoffer above €1.75bn (incl. €350m JLM) | Peak book above €1.9bn

Launched: 3yr: €500m @ MS+7bp - Orderbooks above €1.9bn (incl. €350m JLM)
Book Update: Orderbooks above €1.6bn (incl. €330m JLM interest)
Guidance: 3yr: MS+14a

• Issuer: Muenchener Hypothekenbank eG
• LEI: 529900GM944JT8YIRL63
• Ticker: MUNHYP
• Type: Hypothekenpfandbrief (Mortgage Covered Bond)
• Covered Bond Label: European Covered Bond (Premium)
• Issue Rating: Aaa by Moody's (exp.)
• Format: Reg S Bearer
• Size: €500m
• Coupon: 2.875% Fixed, annual, act/act ICMA, long first
• Trade Date: 09-Jun-26
• Settlement: 16-Jun-26 (T+5)
• Maturity: 05-Jul-29
• Reoffer: MS + 7 bps / 99.788% / 2.948%
• Reference: OBL 2.1 04-Dec-29 #189 +24.8 bps @98.38, HR 108%
• Denoms/Listing/Law: 1k / Munich / German
• ISIN/WKN/Series: DE000MHB43J4 / MHB43J / Serie 2096
• Joint Leads: ABN AMRO, BMO Capital Markets, DekaBank (B&D), Deutsche Bank, DZ BANK and NORD/LB
• MiFID II: Manufacturer target market (EU MiFID II product governance) is eligible counterparties, professional clients and retail (all distribution channels appropriate)
• Advertisement: The Base Prospectus is available at https://www.mhb.de/en/investors/prospect-final-terms-and-summaries
• Fees: The Joint Lead Managers will be paid a fee by the Issuer in respect of the placement of the securities.
• Timing: Priced 14.39 CET / FTT 14.55 CET