Commentary & Deal Flow

Reoffer: 4yr: MS+95bp / 99.69 / 3.835%
Benchmark: 4yr: OBL 2.4 18-Apr-30 #191 @ 98.88 / B+112bp / HR 104%

Final Books: >€6.9bn. Peak book >€6.9bn.

Launched: 4yr: €500m @ MS+95bp - Orderbook >€6.8bn (pre-rec)
Guidance: 4yr: MS+100a (+/-5 WPIR) - Orderbook >€4.5bn (pre-rec)
IPTs: 4yr: MS+135a

• Issuer: Vesteda Finance B.V. (Ticker VESTNL, Country: NL)
• Issuer LEI: 72450072M9HBDGD2GH67
• Guarantor: Custodian Vesteda Fund I B.V.
• Guarantor LEI: 724500YVNMNZMZFQUO84
• Issuer Ratings: BBB (stable) by S&P, expected A- (stable) by Fitch
• Expected Rating of the Notes: A by Fitch
• Format: Senior, Unsecured, Reg S, Bearer, New Global Note, Green Bond
• Tenor: 4 years
• Size: €500m
• Settlement Date: 16-Jul-26 (T+5)
• Maturity Date: 16-Jul-30
• Reoffer: MS + 95bps/ 3.835% / 99.69
• Coupon: 3.75% Fixed (Annual, Act/Act, ICMA)
• Benchmark Bund: B+112 bps (OBL 2.4 18-Apr-30 #191 @ 98.88 / 2.715%) HR : 104%
• Marketing: A NetRoadshow presentation has been made available at www.netroadshow.com/event/Vesteda2026 or at https://www.netroadshow.com with deal entry code: Vesteda2026
• Documentation: €4.0bn EMTN Programme dated 02-Jul-26 (the “Offering Circular”)
• Listing: Euronext Dublin (GEM)
• Governing Law: Dutch
• Denominations: €100k x €1k
• Early Redemption: Make-Whole Call (B+20), 1m Par Call, Clean-Up Call (80%), Change of Control at par
• Covenants: 1) Negative Pledge, 2) Interest Coverage Ratio (EBITDA to Total Interest) ≥1.8x, 3) Loan to Value Ratio ≤50%, 4) Encumbrance of Vesteda Group Assets ≤30%, all as per the Offering Circular
• Use of Proceeds: To finance and/or refinance, in whole or in part, Eligible Assets as outlined in the Issuer’s Green Finance Framework dated December 2023 (including payment of the consideration for the proposed tender of the Issuer's existing notes (ISIN: XS2001183164))
• Green Finance Documents: The Green Finance Framework and Second Party Opinion are available on https://www.vesteda.com/en/corporate/investment/debt/green-bond-programme. Neither the Green Finance Framework nor the Second Party Opinion form part of the Offering Materials
• ISIN: XS3441750711
• Selling Restrictions: As per the Issuer’s EMTN Programme (Reg S Cat. 2; TEFRA D, EEA (no sales to retail), United Kingdom (no sales to retail), Japan, The Netherlands, Belgium, France, Singapore, Switzerland, Canada)
• Target Market / PRIIPs: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No PRIIPs key information document (KID) or FCA Product Disclosure Sourcebook (DISC) disclosure document has been prepared as not available to retail in EEA or in the UK
• Joint Bookrunners: ABN AMRO, BNP Paribas, ING (B&D), Rabobank, SMBC
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Offering Circular is available at https://www.vesteda.com/en/corporate/investment/debt/emtn-programme, and the Final Terms, when published, will be available at https://live.euronext.com/
• Timing: TOE: 16:35 CET/ FTT: 17:00 CET