Commentary & Deal Flow

IPT: 5.00%-5.25%

• Issuer: Birkenstock Group B.V. & Co. KG (BIRKEN)
• Business: Global German footwear designer, manufacturer, and distributor
• Use of Proceeds (UoP): Redemption of the existing notes issued by Birkenstock Financing S.à r.l., share repurchases by Birkenstock Holding PLC or refinancing other indebtedness and GCP, and pay related fees and expenses
• Corporate Ratings: (expect BB+)/BB+ (--/stable) (S&P/Fitch)
• Issue Ratings: (Expect BB+)/BB+ (S&P/Fitch)
• Currency: EUR
• Offering Size: €900,000,000
• Instrument: Senior Unsecured Fixed Rate Notes
• Tenor: 7 Years
• Call Protection: NC3 (50%, 25%, PAR)
• Change of Control: Put @ 101, subject to ratings based portability defined on the OM
• Distribution: Reg S / 144A for life
• ISIN:
• • Reg S: XS3410944709
  • 144A: XS3410944881
• Day Count: 30/360
• Denominations: €100k x €1k
• Listing: TISE
• Governing Law: New York Law
• Settlement: 19-Jun-26 (T+5)
• Joint Global Coordinators and Bookrunners: BNP Paribas (B&D), JPM
• Target Market: No EU PRIIPs key information document (KID) and no UK disclosure document required by DISC have been prepared as the notes are not available to retail in EEA or UK
• Schedule:
• • GIC: 15-Jun-26 @ 11:00 UKT / 12:00 CET
  • 1-on-1s: 15-Jun-26 – 16-Jun-26
  • Pricing 16-Jun-26
• DealRoadshow Link: https://dealroadshow.com (Access Code: BOSTON26SLIDES)
• GIC Registration Link: https://evercall.co/oacc/55304