Commentary & Deal Flow

Reoffer: 5yr: MS+53bp / 99.733 / 3.434%
Benchmark: 5yr: OBL 2.5 16-Apr-31 @ 98.76 / B+66.1bp / HR 101%

Final books in excess of €2.15bn. Peak book above €2.6bn (pre rec)

Launched: 5yr: €1bn @ MS+53bp - Book above €2.6bn (pre rec)
IPTs: 5yr: MS+85a

• Issuer: Dassault Systèmes S.E.
• Issuer LEI: 96950065LBWY0APQIM86
• Issuer Rating: A (stable) by S&P
• Expected Rating of the Bonds: A by S&P
• Format: Reg S (Cat 2)
• Ranking: Senior Unsecured, Unsubordinated
• Size: €1bn
• Pricing Date: 9-Jun-26
• Settlement: 16-Jun-26 (T+5)
• Maturity: 16-Jun-31 (5-year)
• Reoffer: MS+53bp / 99.733 / 3.434%
• Benchmark: OBL 2.5 16-Apr-31 @ 98.76 / B+66.1bp / HR 101%
• Coupon: 3.375% Fxd, Ann, Act/Act (ICMA)
• Global Coordinators: BNP Paribas, Crédit Agricole CIB, MUFG, Société Générale (B&D)
• Active Bookrunners: BNP Paribas, BofA Securities, CIC CIB, Crédit Agricole CIB, Deutsche Bank, HSBC, ING, J.P. Morgan, Natixis, MUFG, Société Générale
• Documentations: Standalone / French Law / 3m Par Call / MWC+10bps (vs. Bund) / Clean-up @75% / CoC
• Denominations: €100,000 + €100,000
• Listing: Euronext Paris
• Clearing System: Euroclear France
• UoP: General corporate purposes, including the refinancing of the €900m 0.125% notes due September 2026
• Hedge Deadline: 15:55 UKT / 16:55 CET
• TOE / FTT: 16:03 UKT / 16:30 UKT
• Target Market: The manufacturer target market (MiFID II and UK MiFIR product governance as applicable) is eligible counterparties and professional investors only (all distribution channels). No PRIIPs key information document ("KID") or disclosure document required by the FCA Product Disclosure Sourcebook has been prepared as the Notes are not available to retail in EEA or the United Kingdom.
• ISIN: FR0014019147
• Marketing: URL: https://dealroadshow.com with Entry Code: 3DS2026 OR Direct Link: https://dealroadshow.com/e/3DS2026
• Selling Restrictions: As set out in the Preliminary Prospectus dated 8-Jun-26
• Advertisement: The final prospectus, when published, will be available on the website of the AMF (http://www.amf-france.org) and the Issuer (https://www.3ds.com/fr/)