Commentary & Deal Flow

Ile-de-France Mobilités (Syndicat des Transports d'Île-de-France), Ile-de-France Public Transport Authority, (ticker: "IDFMOB Govt") rated Aa3/A+ (Moody's/Fitch), has mandated BNP Paribas, Crédit Agricole CIB, ING, Natixis and Santander to act as Joint Lead Managers for its upcoming € long 10-year EuGB benchmark transaction maturing 25-Jan-37.

An expected € benchmark, Reg S, European Green Bond long 10yr offering will follow, subject to market conditions.

• Programme: EMTN Programme
• Format: Reg S Bearer Dematerialised format, HQLA Level 1 classification, 0% RW
• Target Markets: Professionals and eligible counterparties (all distribution channels)
• Stabilisation: FCA/ICMA Stabilisation
• Regulatory Treatment: In July 2026, the French Prudential Supervision and Resolution Authority officially reclassified the debt of Ile-de-France Mobilités, aligning its regulatory treatment with French sovereign debt. IDFM is now considered HQLA level 1, 0% RW.
• Press Release on Updated Regulatory Treatment: https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fwww.iledefrance%2dmobilites.fr%2fmedias%2fportail%2didfm%2fcKI0Zo%5fHHDvd9xgu%5f20260727%2dCPACPRvuTSEN.pdf&umid=E18D02AA-59C7-0106-A24B-DBACEA6D880D&auth=aafe99efb438c54289e4f4c82ad07df3fe9e20cd-58304d91f4059d1ebb205366aa9f3fb368f394af
• Investor Presentation: https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fwww.iledefrance%2dmobilites.fr%2fmedias%2fportail%2didfm%2fGc7ZqdFYTQ8UYIZo%5fPr%25C3%25A9sentationpageinvestisseurAugust2026.pdf&umid=E18D02AA-59C7-0106-A24B-DBACEA6D880D&auth=aafe99efb438c54289e4f4c82ad07df3fe9e20cd-98e93bc7bbd3ba5c49fa55cc38f9914f5176ab75
• EuGB Factsheet 2026: https://ddei5-0-ctp.trendmicro.com:443/wis/clicktime/v1/query?url=https%3a%2f%2fwww.iledefrance%2dmobilites.fr%2fmedias%2fportail%2didfm%2faYnxQd0YXLCxVnsq%5fIDFMEuGBFiched%2527information2026codeISIN.pdf&umid=E18D02AA-59C7-0106-A24B-DBACEA6D880D&auth=aafe99efb438c54289e4f4c82ad07df3fe9e20cd-c04142f840d2b23dbbf7db24043626bb67b0096f