Commentary & Deal Flow

Reoffer: 5yr: T+160bp / 99.301 / 5.788%
Benchmark: 5yr: T 4.125 31-May-31 @ 99-23 / 4.188% / HR 97%

Final Books: US$750m+. Peak book US$1bn+ (excl JLM interest).

Launched: 5yr: US$500m @ T+160bp
IPTs: 5yr: T+180a

• Issuer: Trafigura Funding S.A.
• Guarantors: Trafigura Group Pte. Ltd. Trafigura Trading LLC Trafigura Pte Ltd
• Issuer LEI: 549300IDCRNFW0C0TJ66
• Form of Notes: Reg S, Bearer
• Status/Ranking: Senior, Unsubordinated and Unsecured
• Rating of the Notes: Unrated
• Currency: U.S. dollar (“USD”)
• Nominal Amount: US$500,000,000
• Pricing Date: 24-Jun-26
• Settlement Date: 01-Jul-26 (T+5)
• Maturity Date: 01-Jul-31
• Coupon: 5.625% per annum payable semi-annually in arrear
• Interest Payment Dates: Semi-Annually, January 1st and July 1st of each year, starting 01-Jan-27 up to and including Maturity Date, subject to adjustment as per the Business Day Convention
• Government Benchmark: T 4 ⅛ 31-May-31
• Government Benchmark Price / Yield: 99-23 / 4.188%
• Re-Offer Spread to Benchmark: 160bps
• Re-Offer Yield (Semi-annual): 5.788%
• Issue and Re-Offer Price: 99.301%
• Redemption Price: 100.00%
• ISIN / Common Code: XS3417306274 / 341730627
• Payment Business Days: New York and London
• Day Count: 30/360
• Documentation: In accordance with the Issuer’s €3,000,000,000 Euro Medium Term Note Programme dated 16-Jun-26 (the “EMTN Programme”)
• Listing: Regulated market of Euronext Dublin
• Terms & Conditions: As set out in the EMTN Programme
• Issuer Call Options: Make-Whole Call, 3-month Par Call, Clean-Up Call (75%)
• Make-Whole Margin: T+25bps
• Change of Control Investor Put: Yes, at par
• Clearing: Euroclear / Clearstream, Luxembourg
• Governing Law: English Law
• Denominations: US$200,000 and integral multiples of US$1,000 in excess thereof up to US$399,000
• Use of Proceeds: General Corporate Purposes
• Target Market (MiFID II Product Governance): Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs or UK PRIIPs key information document (KID) / CCI product summary has been prepared as not available to retail in EEA or the UK
• Selling Restrictions: Reg S, Cat 2, TEFRA D; as set out more fully in the EMTN Programme
• Global Coordinators: J.P. Morgan & Standard Chartered Bank
• Active Bookrunners: Crédit Agricole CIB, ING, J.P. Morgan, Société Générale, Standard Chartered Bank
• Advertisement: This communication is not a prospectus for the purposes of Regulation (EU) 2017/1129 and underlying legislation. The Base Prospectus, and the final terms when published, will be available on the website of the Irish Stock exchange.
• Timing: TOE: 4.01pm UKT / FTT: 4.25pm UKT