Commentary & Deal Flow

Action Logement Services (ticker: "ALSFR", country: FR), rated Aa3 (negative) / A+ (stable) by Moody's/Fitch, has mandated Barclays, BNP Paribas, Natixis, Natwest and Societe Generale to lead manage a new 10yr EUR fixed rate Sustainable Benchmark. The transaction will be launched in the near future, subject to market conditions.

• Investor Presentation: https://groupe.actionlogement.fr/sites/default/files/2026-07/2026%2007%20-%20Pr%C3%A9sentation%20investisseurs%20-%20EN_VF.pdf
• Sustainable Bond Program Framework: https://groupe.actionlogement.fr/sites/default/files/2025-09/02-2025%2007%20ALS%20Sustainability%20Bond%20Framework_VF.pdf
• SPO: https://groupe.actionlogement.fr/sites/default/files/2025-09/03-EN_EthiFinance_SPO_ALS_VF_04-07-2025.pdf
• Target Market: The manufacturer target markets (UK MiFIR / MiFID II product governance) as assessed by the relevant lead managers are eligible counterparties and professional clients only (all distribution channels).
• Stabilisation: FCA/ICMA stabilisation applies.