Commentary & Deal Flow

Reoffer: 5yr: MS+50bp / 99.518 / 3.607%
Benchmark: OBL #193 @ 98.055 / B+65.8bp / HR 106%

Final Books €900m+ (incl €50m JLM). Peak book €1.4bn+ (pre-rec, incl €50m JLM)

Launched: 5yr: €500m @ MS+50bp - Books €1.4bn+ (pre-rec, incl €50m JLM)
Book Update: Books in excess of €1.25bn
IPTs: 5yr: MS+75/80bp

• Issuer: SpareBank 1 Sør-Norge ASA (ticker: SRBANK)
• LEI: 549300Q3OIWRHQUQM052
• Issuer Rating: Aa3 (stable) by Moody's
• Expected Issue Rating: Aa3 by Moody’s
• Status: Senior Preferred Notes, Unsubordinated and Unsecured
• Format: Reg S, Bearer, NGN
• Size: €500m
• Settlement Date: 25-Aug-26 (T+5)
• Maturity Date: 25-Aug-31 (5 years)
• Reoffer: MS+50bps / 99.518 / 3.607% OBL #193 +65.8bps (Spot: 98.055 / HR 106%)
• Initial Rate of Interest: 3.5%, Fixed, Annual, ACT/ACT (ICMA)
• Early Redemption Event: Applicable at par as per Condition 5(c) Redemption for Taxation Reasons
• Events of Default: Senior Preferred Notes will contain only limited event of default provisions and will not contain any cross-default provisions
• Substitution & Variation: Applicable as per Condition 5(m) of the Base Prospectus
• Documentation: Issuer's €20bn Euro Medium Term Note Programme dated 22-May-26 (the "Base Prospectus")
• Governing Law: English law except for Condition 2 which will be governed by and construed in accordance with Norwegian law
• Use of Proceeds: The issuer intends to allocate an amount equal to the net proceeds from the issue of the Notes to Eligible Assets as described in the Issuer’s Green Bond Framework
• Listing: Luxembourg Stock Exchange Regulated Market
• Clearing: Euroclear / Clearstream, Luxembourg
• Set-Off: No right of Set-Off
• Denominations: €100k + €1k
• Business Days: T2
• Selling Restrictions: UK, EEA, Japan, Norway, Italy, Singapore and US and as further set out in the Base Prospectus
• Target Market: MiFID II / UK MiFIR professionals/ECPs-only/No PRIIPs KID – Manufacturer target market (MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) or UK PRIIPs KID / CCI product summary has been prepared as not available to retail in the EEA or the UK
• Fees: The Banks will be paid a fee by the Issuer in connection with the transaction
• Advertisement: The Base Prospectus dated 22-May-26 is available and the Final Terms, when published, will be available on the website of the issuer and of the website of Luxemburg Stock Exchange https://www.bourse.lu/issuer/Sparebank1SRBk/48189
• Joint Lead Managers: Crédit Agricole CIB (B&D/DM), Deutsche Bank, DZ BANK, Nordea, and UBS
• ISIN: XS3480525867
• Timing: Priced. TOE 14:45 CET / FTT 15:00 CET