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Commentary & Deal Flow

PX TALK: CoreWeave $3.55bn (US$/EUR) equiv 6NC3 sr notes 2-part; $1.25bn 9.75%a, E2bn 8.50-8.75%

HYC European Market: Deal Flow - GeneralHYC US Market: Deal Flow - General

+++Total size is approx US$3.55bn equivalent+++

CoreWeave Inc (CRWV) approx US$3.55bn equivalent (US$/EUR)144A/Reg S 6yNC3 sr notes 2-part. B1/B/BB- (stable/positive/positive). Via JPM+. No reg rights. Tranche split TBD.

- US$1.25bn due 2032 (6y). NC3 (MWC T+50bp) (50%,25%,par). Equity claw: 3y 40%. CoC at 101. Denoms: 2kx1k. Via JPM/GS/MS/MUFG/Citi/CA/DB/SMBC/WFS/PNC/SocGen/TD/USB jt books. NY law. 144A CUSIP: 21873SAK4; ISIN: US21873SAK42. Reg S CUSIP: U2069EAE0; ISIN: USU2069EAE06. IPT: high 9s. Price talk: 9.75% area.

- EUR2bn due 2032 (6y). NC3 (MWC B+50bp) (50%,25%,par). Equity claw: 3y 40%. CoC at 101. Denoms: 100kx1k. Via JPM/CA/DB/GS/MS/MUFG/Citi/SMBC/WFS/PNC/SocGen/TD/USB jt books. NY law. List ISE. 144A Common code: 333313952; ISIN: XS3333139528. Reg S Common code: 333313928; ISIN: XS3333139288. IPT: high 8s. Price talk: 8.50%-8.75%.

Did investor call at at 7am NYT/12pm UKT 06/11 (and investor calls in Europe 06/03). Books close at 10:45am NYT / 3:45pm UKT 06/11. Pricing 06/11. UOP: GCP. Biz: provides AI software and cloud services. HQ: Livingston, NJ.

GIC Registration link: https://www.netroadshow.com/events/login/1PeTHmohJYJmCZN7sf6E9jC499N3h08vgxx6n

Roadshow: http://www.netroadshow.com/nrs/home/#!/?show=b0560767 or visit http://www.netroadshow.com with entry code: CoreWeave26 (not case-sensitive)

GIC replay: http://www.netroadshow.com/nrs/home/#!/?show=984bd202 or visit http://www.netroadshow.com with entry code: COREWEAVEHY2026 (not case-sensitive)