Commentary & Deal Flow

IPTs: Short 4yr: MS+80a 8yr: MS+110a

• Issuer: Toyota Motor Corp
• LEI: 5493006W3QUS5LMH6R84
• Expected Ratings: A1/A+ (Moody's/S&P)
• Security Description: Senior Unsecured Sustainability Bonds
• Registration: Reg S Registered
• Tenor:
• • Short 4-year FXD
  • 8-year FXD
• Expected Size:
• • S-4yr: €500m (WNG)
  • 8yr: €500m (WNG)
• Maturity Date:
• • S-4yr: 29-Mar-30
  • 8yr: 29-Jun-34
• Optional Redemption:
• • S-4yr: Make Whole Call, 1m Par Call
  • 8yr: Make Whole Call, 3m Par Call
• Initial Price Thoughts:
• • S-4yr: MS+80bp area
  • 8yr: MS+110bp area
• Benchmark German Government Bond:
• • S-4yr: DBR 0 15-Feb-30
  • 8yr: DBR 2.2 15-Feb-34
• Bookrunners: J.P. Morgan, BofA Securities, Morgan Stanley, Barclays, and BNP Paribas
• Billing & Delivery: J.P. Morgan
• Sale into Canada: Yes
• Use of Proceeds: Eligible Projects as defined in the issuer’s Preliminary Offering Circular for the offering dated 18-Jun-26
• Minimum Denoms: €100,000 and integral multiples of €1,000 in excess thereof
• Listing: Singapore Exchange Securities Trading Limited (SGX-ST)
• Governing Law: English Law
• Settlement: 29-Jun-26
• Timing: Pricing expected today LDN time
• Netroadshow: www.netroadshow.com/nrs/home/#!/?show=1fc27b71 (Recommended) | Or www.netroadshow.com Entry code: Toyota26 (not case sensitive)
• ISIN:
• • S-4yr: XS3413988604
  • 8yr: XS3413988786
• Advertisement: The Offering Circular, when published, will be available on the website of the Singapore Stock Exchange https://www.sgx.com/