Commentary & Deal Flow

Final Books: Above €1.5bn (incl. €525m JLM)
Reference Benchmark: DBR 2.3 15-Feb-33 (HR: 105%)
Hedge Deadline: 14:55 CET

Launched: 7yr: €750m @ MS+38bp - Books above €1.5bn (incl. €525m JLM)
Spread set at: 7yr: MS+38bp - Books above €1.5bn (incl. €525m JLM)
Guidance: 7yr: MS+43a

• Issuer: Caisse de Refinancement de l’Habitat
• LEI: 969500TVVZM86W7W5I94
• ISIN: FR0014019DU6
• Type: Obligations Foncieres - ECB Eligible – Reg S Bearer Category 2, dematerialised format – TEFRA not applicable – ECBC Covered. Bond Label - EU harmonisation label European Covered Bond (Premium) / CRD IV Compliant
• Ratings: Aaa/AAA (Moody's/Fitch)
• Settlement: 29-Jun-26 (T+7)
• Maturity: 29-Jun-33
• Size: €750m
• Tenor: 7 year - Soft bullet
• Spread: MS+38bp
• Coupon: [•] annual, Act/Act ICMA
• Listing/Law/Denoms: Euronext Paris / French Law / €100,000+€100,000
• Documentation: Issuer’s EMTN Programme dated 20-Feb-26 and supplemented 11-May-26 and 12-Jun-26
• Fees: The Banks will be paid a fee by the Issuer in relation to the transaction
• Bookrunners: Commerzbank (B&D), Barclays, Crédit Agricole CIB, Natixis, Société Générale, UBS
• MIFID/MIFIR II – Target Market: Manufacturer target market (MIFID II/UK MiFIR product governance) is eligible counterparties and professional clients only (the following distribution channels: investment advice, portfolio management, non-advised sales). No EEA PRIIPs KID or UK PRIIPs KID/CCI product summary has been prepared as not available to retail in EEA and the UK
• Timing: Books open - Today's business. Allocation and pricing this afternoon.
• Books Subject: 12:25 CET
• Advertisement: The Base Prospectus, any supplements thereto, and the Final Terms (when published) are available at http://www.crh-bonds.com/Prospectus/Listing_Prospectus.html